Agustin J. Fleites joined ProFund Advisors as chief investment officer and leader of the firm's exchange-traded fund initiatives, said spokesman Tucker Hewes. William E. Seale, principal and chief economist who also held the CIO position, will work closely with Mr. Fleites, according to a news release. Mr. Fleites was a senior principal with State Street Global Advisors, where he oversaw the distribution and management of the firm's registered mutual funds, ETFs and managed accounts businesses. Greg Ehret and James Ross, co-heads of the Advisor Strategies Group, replaced Mr. Fleites at SSgA, said Arlene Roberts, spokeswoman. Mr. Ehret focuses on distribution, Mr. Ross on product management. ProFund advises the ProFunds family of index-based mutual funds, which has $7 billion in assets under management, Mr. Hewes said.
John Morrison was named chief executive officer of Man Investments, replacing Chris Chambers, who is leaving the London-based hedge fund-of-funds company. Mr. Chambers' plans could not be learned by press time. Mr. Chambers had been at Man since March 2002, according to a statement from the company. Mr. Morrison is currently head of marketing and clients services at Man Investments. A decision on replacing Mr. Morrison has not been made, said Paul Lockstone, a spokesman for Man Group.
Serena Ho and Eric Wheeler joined PG&E Corp. as senior financial analysts, said Peter Corippo, director of investments & benefit finance. They replace Ray Venner, who joined the $197.5 billion California Public Employees' Retirement System, Sacramento, in April as investment manager for asset allocation/risk management, and Carolyn Margiotti, who joined Robeco Investment Management as a senior vice president in July. Ms. Ho was a senior accounting analyst in PG&E's corporate accounting department, and Mr. Wheeler was a market maker at the Pacific Stock Exchange. PG&E has $14 billion in retirement assets.
David Martin was named chief benefits officer of the $18.4 billion Iowa Public Employees' Retirement System, Des Moines. He replaces Greg Cusack, who retired last fall. Mr. Martin was appointed by Donna M. Mueller, CEO; he had been staff coordinator for retirement education and other benefits services.
Joseph Gieger was hired as managing director of hedge fund and fund-of-funds manager GAM USA, overseeing its U.S. operations and distribution, effective Sept. 6. It is a new position. Mr. Gieger was president of Lombard Odier Darier & Hentsch's U.S. asset management operations. Hans Peter Gruenig, president of Lombard Odier's U.S. broker-dealer business, will assume Mr. Gieger's duties temporarily; the firm is planning to move the headquarters of its U.S. asset management business over the next several months to Zurich, where its parent company is located, he said. It has not been determined who will permanently replace Mr. Gieger.
Adrian Cronje was named director of quantitative portfolio management at Wilmington Trust Investment Management, the investment management arm of Wilmington Trust's wealth advisory business, said Bill Benintende, spokesman. It is a new position. Mr. Cronje, who will be based in Atlanta, will lead the firm's quantitative equity research activities, as well as holding portfolio management responsibilities. He also will help increase the firm's internal small-cap, midcap, international and market-neutral strategies, and evaluate new ways of approaching passive investing. He was director and deputy head of the quantitative equity products team at Schroder Investment Management. Richard King, Schroder spokesman, said the firm is searching for a replacement.
Christopher S. Fox will join money manager Ivory Capital Group as a managing partner on Jan. 1, according to a spokesman. It is a new position. Mr. Fox was a principal with Cramer Rosenthal McGlynn, according to a CRM spokeswoman. Additionally, Ivory founder Curtis Macnguyen will also be a managing partner, a new position.
Frank J. Small was named director of fund investment management at J.E. Robert Co. and Michael Cocanougher was named director of CMBS investments, said Tae-Sik Yoon, chief financial officer. The positions are new. Mr. Small will be responsible for originating and acquiring real estate transactions and will report to Cia Buckley, senior managing director and head of North American fund investment management. Mr. Cocanougher will focus on the firm's special servicing business and will report to Keith Belcher, head of J.E. Robert's CMBS business. Mr. Small was managing principal of Crescent Capital Partners, a real estate investment firm he founded. He said Crescent is winding down operations and will close. Mr. Cocanougher was director of special servicing at Banc of America Securities. Jeff Hershberger, spokesman for Banc of America Securities, did not return a call regarding the status of Mr. Cocanougher's prior post.
David Daglio was named senior vice president and head of The Boston Co. Asset Management's U.S. small-cap and midcap value investment team, said Joseph Ailinger, spokesman. He had been a portfolio manager for the firm's premier value, select value and small-cap opportunity institutional strategies. Mr. Daglio replaces Peter Higgins, who left the firm Aug. 31 to pursue other professional opportunities. Mr. Daglio will also become lead manager of the Dreyfus Small Company Value and the Dreyfus Mid Cap Value Fund, which he ran with Mr. Higgins. He will remain lead manager on a third fund, the Dreyfus Premier Mid Cap Value Fund.
Gita R. Rao was named a quantitative portfolio manager at MFS Institutional Advisors, said John Reilly, spokesman. The position is new. Ms. Rao will oversee the management of the firm's global quantitative portfolios and lead its research into international stock selection models. Ms. Rao was an associate partner, global equity portfolio manager and director of quantitative research at Wellington Management. Lisa D. Finkel, a spokeswoman for Wellington, couldn't immediately be reached for comment.
Daniel Goldfarb was promoted to lead portfolio manager of Babson Capital Management's small-cap core growth team, and Steven Dray was promoted to senior portfolio manager of the team's three strategies: small-cap growth, small-cap core and microcap core, said spokeswoman Faith Yando. Mr. Goldfarb will replace Paul Szczygiel, and Mr. Dray will replace Rob Baumbach; Messrs. Szczygiel and Baumbach will begin managing a long-short microcap strategy in January. In addition, small-cap team member Chris Crooks was promoted to portfolio manager of the small-cap core and microcap core strategies, replacing Mr. Dray. Mr. Goldfarb was portfolio manager for the small-cap core and microcap core strategies and an analyst for all three strategies. In his new role, he will assume responsibility for management of each of the portfolios and team members, while remaining an analyst. Mr. Dray was an equity analyst for all three strategies and will retain some of those responsibilities. Babson will hire two new analysts to replace Messrs. Dray and Crooks, Ms. Yando said.
Hahn Kang and Gary Effman joined Old Hill Partners as portfolio managers. Both positions are new, part of an expansion of the fixed-income manager's investment team, according to a company statement. Mr. Kang was a portfolio manager at Metropolitan West Asset Management. A spokesman declined to comment. Mr. Effman was director of asset-backed securities trading for a multiasset fixed-income hedge fund at Harbert Management. Joel Piassik, a spokesman for Harbert Management, did not return a call regarding Mr. Effman's replacement. Old Hill has five funds with more than $800 million under management. The firm's investment team invests primarily in collateralized fixed-income securities of relatively short duration and focuses on out-of-favor sectors.
Alex Ineichen will move to UBS Global Asset Management's alternative and quantitative investments group in October to serve in a "senior research capacity" for the specialist hedge fund unit, according to a company news release. Mr. Ineichen is head of alternative investment strategies at UBS Investment Research, where he has led hedge fund research for the investment bank since 2000. Mr. Ineichen will report to Mike Welch, CIO and head of alternative investment solutions at the alternative and quantitative group.
Chip Schorr was named senior managing director in Blackstone Group's private equity group, overseeing technology-related investments, confirmed John Ford, spokesman. The position is new. Mr. Schorr was managing partner at Citigroup Venture Capital Equity Partners. John Diat, a Citigroup spokesman, said Mr. Schorr has not been replaced.
David Edlin resigned as managing director and national sales manager with Scudder Investments, a subsidiary of Deutsche Asset Management, confirmed DeAM spokeswoman Rosalia Scampoli. Mr. Edlin was replaced by Thomas Winnick, who was the national sales manager for DeAM's financial institutions group, said Ms. Scampoli, who could not identify Mr. Winnick's replacement. Further details on Mr. Edlin's departure were not available at press time.
Wayne Finnegan, former head of the core market sales team at CitiStreet, rejoined the company as executive vice president of corporate sales, said Michael Bezdek, spokesman. Mr. Finnegan replaces Fred Conley; Mr. Bezdek said he did not know where Mr. Conley went. Mr. Finnegan was senior vice president of business development at BISYS Group for three years. Calls to Daniel Briggs, spokesman at BISYS, were not returned by press time.
William T. Connolly, national sales director for Putnam Investment's retail management business, will replace Richard A. Monaghan as head of Putnam Retail Management at the end of September, said spokeswoman Nancy Fisher. Mr. Monaghan said he plans to explore "a new stage in my career," according to a Putnam news release. Mr. Connolly will retain his duties as national sales director and also oversee sales and marketing for Putnam's mutual funds, separately managed accounts, alternative strategies, client-service organizations, midmarket 401(k) and Taft-Hartley business. Also, Mr. Connolly and Sandra C. Whiston, who was named head of Putnam's institutional sales earlier this year, will both join the firm's executive board.
Chris Yiannakou joined Pioneer Investments' London office as a consultant relations manager, said spokeswoman Lorraine Gallagher. It is one of several new institutional marketing and support positions at the firm, she said. Mr. Yiannakou was a consultant relationship manager with Morley Fund Management. Fiona Baker, a spokeswoman for Morley, said no decision has been made as to whether to replace Mr. Yiannakou.
Lisa Marie Hammond was named chief of the CalPERS Office of Governmental Affairs. She succeeds Karen Neuwald, who was appointed to the state Public Employment Relations Board in June. Ms. Hammond was senior staff counsel in the legal office of the $194.1 billion California Public Employees' Retirement System, Sacramento.
Douglas Steele joined MassMutual Financial Group as an investment consultant, responsible for selecting and monitoring subadvisers for a segment of the firm's overall investment platform, said spokeswoman Lisa K. Reilly. It is a new position. Mr. Steele was briefly a consultant in the Boston office of Shields Associates after leaving as director at CRA RogersCasey in April. Bruce L. Graham, president of Shields Associates, said his firm will continue to add staff this year.