Robert Feinstein was named deputy CIO at the $32 billion Maryland Retirement and Pension System, Baltimore, effective Sept. 1, said Steve Huber, chief investment officer. It is a new position created as part of a reorganization by Mr. Huber. Mr. Feinstein will oversee the external managers group, as well as corporate governance. Margo Wheet, who was named head of external manager compliance on July 6 — also a new position — will report to him. Mr. Feinstein was deputy counsel in the state attorney general's office. Ms. Wheet was the system's chief financial officer; she was replaced by Vincent Marsiglia, previously executive finance director of the Maryland judiciary.
Brian Schneider was named managing director of real estate and natural resources at the University of Pennsylvania, Philadelphia, said Kristin Gilbertson, chief investment officer of the $4.3 billion endowment. The position is new and is part of Ms. Gilbertson's strategy to focus more on the asset class. Mr. Schneider was a senior portfolio manager and director of private real estate investments at DuPont Capital Management, which runs $24.3 billion in pension assets for E.I. du Pont de Nemours & Co., Wilmington, Del. William Blase, DuPont spokesman, said the firm is searching for a replacement.
Richard R. Foulkes, the vice chairman of Schroder Investment Management North America and the lead manager for two Vanguard Group funds, will retire Oct. 31, according to a news release from Vanguard. Schroder subadvises 75% of the $9.8 billion Vanguard International Growth Fund and 55% of the $600 million Vanguard Variable Insurance Fund. Mr. Foulkes will be replaced by two Schroder portfolio managers: Virginie Maisonneuve, head of Schroder's EAFE equity team, and Matthew Dobbs, who has managed the Vanguard International Explorer Fund since 2000 and worked with Mr. Foulkes on the Pacific Rim and emerging markets segments of the Vanguard International Growth Fund since 1999. Executives at Schroder's New York headquarters weren't immediately available to discuss whether Mr. Foulkes would be replaced as vice chairman.
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 said he is constructing a global team that will build on MLIM's existing collateralized debt obligation resources and capabilities. "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 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.
Ben Akrigg will join F&C Asset Management as director-Pacific equities, effective Sept. 5, said Jason Hollands, a spokesman for the firm. It is a new position. Mr. Akrigg will report to Mike Hanbury-Williams, head of Pacific equities. The hiring "demonstrates (F&C's) commitment to further growing this area of our business," Tony Broccardo, F&C CIO, said in a statement. Mr. Akrigg currently is a portfolio manager with Morley Fund Management, working on that firm's Asia-Pacific equities team. Fiona Baker, a spokeswoman for Morley, said the firm is searching for a replacement.
Separately, Jonathan Mann is joining F&C Asset Management as director-emerging markets debt. Mr. Mann will report to Helene Williamson, director and head of emerging markets debt. Mr. Mann was a Latin American and Asian bond manager with Standard Asset Management. Will Bowen, a spokesman for Standard Asset Management, said Mr. Mann's responsibilities will be divided among the other managers until a replacement is hired.
Manind Govil was hired by Guardian Investor Services as the head of equity investments and portfolio manager, according to a news release. Mr. Govil will be the lead portfolio manager on the firm's Guardian Park Avenue Fund and the Guardian Stock Fund. He replaces Richard Goldman, former portfolio manager on the funds, who resigned from Guardian in March. Mr. Govil will now report directly to Thomas Sorell, president of the Park Avenue Funds and CIO of Guardian Investor Services. Mr. Sorell was not immediately available for comment. Mr. Govil was co-head of equities and head of equity research at Mercantile Capital Advisors and the lead portfolio manager of the large cap-core Mercantile Growth & Income Fund. Kevin McCreadie, Mercantile's CIO, permanently assumed Mr. Govil's responsibilities, according to a news release.
David Seto joined Weiss Peck & Greer as a senior vice president and fixed-income portfolio manager, said Daniel S. Vandivort, co-head of fixed income at the firm, a unit of Robeco Investment Management. Mr. Seto will oversee structured securities and international fixed-income investment portfolios. Mr. Seto will report to Wen-Ching Wang, managing director and head of Weiss Peck & Greer's government and structured securities team. The firm added the position in part because the structured securities element "is growing pretty rapidly" and "activities in the international arena are also expanding," Mr. Vandivort said. Mr. Seto was a vice president and portfolio manager at Neuberger Berman, where he managed structured securities for the fixed-income group. He was also co-manager of the international fixed-income group. Randy Whitestone, spokesman for Neuberger Berman parent Lehman Brothers, declined to comment on the firm's plans for Mr. Seto's former position.
Rudy Torrijos III joined Delaware Investments as a vice president and portfolio manager on the firm's emerging growth equity team, said spokeswoman Christina Ward. Mr. Torrijos will focus on the technology sector for the emerging growth team, which is led by Marshall Bassett, senior vice president and CIO. Mr. Torrijos will round out the emerging growth team's coverage and add breadth to its portfolio management capabilities, said Mr. Bassett. He replaces portfolio manager Jeff Hynoski, who left in June, according to Ms. Ward. Mr. Torrijos was a vice president and technology portfolio manager at Fiduciary Trust Co. on the firm's domestic small-cap growth strategies. William Weeks, spokesman for Fiduciary, did not return calls seeking comment on a replacement. Delaware also named Brian Funk as its new head of fixed-income research, said Ms. Ward. Mr. Funk has been with Delaware since 2000 and will remain senior vice president in his new job. He replaces Ward Tatge, who left the firm in May. Mr. Fink will report to Ryan Brist, executive vice president and co-head of fixed income.
Elizabeth Hughes was hired by Legg Mason Capital Management as senior vice president and director of corporate strategy. It is a new position, said Jeffrey Bukowski, spokesman for Legg Mason, which manages roughly $51 billion in assets. Ms. Hughes will focus on implementing "long-term strategic initiatives," including development of new products and product pricing, Mr. Bukowski said. Ms. Hughes was a principal at McKinsey & Co., responsible for advising the firm's asset management clients on strategy and business development. Mitch Kent, spokesman for McKinsey, was not available for comment on Ms. Hughes' replacement.
Arbel Eichbaum was appointed director of marketing at AXA Rosenberg Group; the firm will open an office in New York by the end of summer, and he will lead the effort, said Stephane Prunet, CEO. The New York office is part of the firm's plans for continued growth in its North American business, said spokeswoman Jennifer Morgan in an e-mail. AXA Rosenberg will add staff to its East Coast operation "over time and as needed," Ms. Morgan said. The firm has $62.5 billion in assets under management as of June 30. Mr. Eichbaum was director of strategy and product development for the firm and worked in its Orinda, Calif., headquarters. David Fourgoux, a member of the product strategy team in the firm's London office, will assume Mr. Eichbaum's responsibilities in addition to his current duties, Ms. Morgan said.
J. Carter Bailey Jr. was named head of U.S. institutional sales at Franklin Templeton Institutional, said spokesman Bill Weeks. He will retain the title of senior vice president and the responsibilities of regional director of sales for the Southeast United States, while overseeing a team of regional directors responsible for marketing investment services to corporate retirement plans, public funds, foundations, endowments and other institutional investors. Mr. Bailey, who is based in Atlanta, reports to Reed Hutchens, director of U.S. institutional sales and client service. Mr. Bailey replaces Peter Anderson as head of U.S. institutional sales; Mr. Anderson left the firm earlier this year and is now managing director-business development and client service at Clay Finlay.
Mike Gibb was hired by Martin Currie as client services director, a new position, confirmed Paul Donachie, assistant director of marketing. Mr. Gibb was hired to support the firm's growing number of institutional clients. Mr. Gibb was a director of equity sales at Credit Suisse First Boston in London; information on a replacement was not available by press time.
Bruce D. George joined MD Sass as a senior vice president, marketing and client services, effective Aug. 4, said Martin D. Sass, chairman and chief executive officer. It is a new position. Mr. George, based in Boston, will target major corporations, endowments and foundations and public pension plans, and will look after consultant relationships. He was a senior vice president, institutional sales, with Fortis Investments. Executives at Fortis weren't immediately available to discuss whether Mr. George would be replaced.
John Menard was hired as vice president, institutional investor sales, at State Street Corp., confirmed spokeswoman Carolyn Cichon. It is a new position. Mr. Menard will be responsible for sales and client relations in the public pension fund and Taft-Hartley plan sponsor segments. He was vice president and public funds sales representative at Northern Trust Corp. An internal candidate has been identified to replace Mr. Menard, according to Northern Trust spokesman John O'Connell; he declined to name the person but said an announcement will be made soon.
