Fernando Guerrero was hired by Merrill Lynch Investment Managers as a managing director and head of a newly formed structured products team, according to a news release. Mr. Guerrero is constructing a global team that will build on MLIM's existing collateralized debt obligation resources and capabilities, he said. "The firm has been very deliberate in identifying opportunities in structured products, a marketplace that has been growing rapidly in recent years," said Mr. Guerrero. He said he will concentrate on creating a fully integrated structured products platform that will focus on providing "tailored" risk-return solutions to institutional investors, services that will allow the firm to expand its presence in the CDO marketplace. Specifically, the team will focus on distribution, structuring and managing CDO risk. MLIM, which has $478 billion in assets under management, manages $2 billion in CDO assets. Mr. Guerrero will report directly to Brian Fullerton, CIO for MLIM in the Americas. Mr. Guerrero will coordinate distribution in the Americas with Frank Porcelli, chief operating officer for the region, and Robert Fairbairn, COO for Europe, Middle East and Africa. Mr. Guerrero was a managing director and head of CDOs at ABN AMRO. Albert Holtzappel, spokesman for ABN AMRO, could not immediately provide details on Mr. Guerrero's replacement.
J. Alfred Broaddus Jr. was named trustee of the $43.9 billion Virginia Retirement System, Richmond, by Gov. Mark Warner. Mr. Broaddus will complete the term of Alphonso I. Samper, who resigned July 15 over his role in a scandal involving a severance package for former Executive Director Forrest Matthews; the term will expire on Feb. 28, 2006. Mr. Broaddus retired as president of the Federal Reserve Bank of Richmond in 2004.
Drew Doscher and Jeffrey Horan joined GSC Partners as managing directors. They will co-manage the private equity manager's new hedge fund, which will focus on corporate debt and equity investments in leveraged and distressed markets, according to a statement from the firm. Messrs. Doscher and Horan were co-heads of UBS' global distressed securities trading team. Christine Walton, a UBS spokeswoman, did not return a call seeking information about their replacements.