Hilary Woods and Paul Kandel, senior portfolio managers at Mellon Financial subsidiary Dreyfus Investment Management, will leave the firm at the end of the month, the two said in separate interviews. Ms. Woods and Mr. Kandel manage a combined $4.5 billion in small-cap and midcap equities for institutional and mutual fund clients. Neither portfolio manager offered specific details of their plans; Ms. Woods said the timing of the two departures is "coincidental" and the two will pursue separate opportunities. She has been with Dreyfus for 18 years, and Mr. Kandel has been with the firm for more than 10 years. The $1.5 billion institutional accounts run by Ms. Woods and Mr. Kandel will be managed by The Boston Co. Asset Management, also Mellon subsidiary, Patrice M. Kozlowski, spokeswoman for Dreyfus Corp., said in an e-mail. The retail and mutual fund assets will be shifted to Mellon affiliate Franklin Portfolio Associates, she said.
James Feidler joined Cliffwater as a director focusing on hedge fund research, said Barbara Smith, managing director. It is a new position. Mr. Feidler will be based in the firm's Santa Monica, Calif., office and will work with Daniel Stern, managing director, who is based in New York. Mr. Feidler was manager-investments at The Walt Disney Co., Burbank, Calif., where he managed public equities for Disney's $3 billion pension plan and oversaw the company's 401(k) plans, which have combined assets of about $2 billion. David Caouette, a Disney spokesman, said Mr. Feidler's responsibilities have been temporarily assigned to other staff and company officials are "in the process of evaluating candidates" for the position. There is no timetable for filling the vacancy, he added.