Gregory A. Samay was named chief of staff and CIO of the $1.2 billion...

Gregory A. Samay was named chief of staff and CIO of the $1.2 billion Arlington (Va.) County Employees' Retirement System, said Steve Ivins, chairman of the board of trustees. Mr. Samay replaces Bruce Kallos, who resigned as executive director of the system last August after an audit uncovered questionable travel and entertainment expenses. Mr. Samay "obviously will review everything and bring fresh eyes" to the plan, which has a $76 million surplus, Mr. Ivins said. Mr. Samay was assistant treasurer and director of capital markets at Yum! Brands Inc., Louisville, Ky., responsible for management of its $550 million pension fund and $350 million 401(k) plan, said Gregory Keyes, senior manager of corporate finance and capital strategy. Mark Hutchens, assistant treasurer for corporate finance and capital strategy has assumed most of Mr. Samay's responsibilities, Mr. Keyes said.

Bob Serhus stepped down as CIO of Julius Baer Investment Management, according to a statement by William Marr, global head of alternative investments. Jonathan Morgan, director of research and portfolio management, will take on Mr. Serhus' duties in the alternative investment group, said Neil Shapiro, Julius Baer spokesman. Mr. Shapiro would not say why Mr. Serhus left or where he is going because it is a "personnel matter." Mr. Serhus could not be reached for comment.

Tae-Sik Yoon will take over as CFO and treasurer of the JER Investors Trust on Sept. 2, said Joseph E. Robert Jr., chairman and CEO. He will replace Kari L. Doescher, who is leaving for personal reasons. Ms. Doescher is not immediately joining another firm, Mr. Robert said. Mr. Yoon is currently CFO and a managing director of J.E. Robert Co. and JER Commercial Debt Advisors, the management affiliate of JER Investors Trust. Mr. Yoon joined J.E. Robert in 1999 and currently oversees capital markets, finance and accounting, and risk and portfolio management. He is also on the investment committees for JER Investors Trust and J.E. Robert. JER Investors Trust is a REIT that had $411.1 million in assets under management as of July 14.