David F. Holstein resigned as managing director of global equities at General Motors Asset Management, effective Sept. 30, said Jerry Dubrowski, GMAM spokesman. Mr. Holstein is leaving to accept a position with Capital Group, said Mr. Dubrowski. Details on Mr. Holstein's new position could not be learned by press time; Chuck Freadhoff, spokesman for the Capital Group, could not be reached for comment. Nancy Everett, chief investment officer of GMAM, is assuming Mr. Holstein's responsibilities while the firm searches both internally and externally for his replacement, said Mr. Dubrowski. He was unable to say if GMAM hired a recruiting firm to conduct the search.
Lisa Mazzocco was named chief investment officer of the $31 billion Los Angeles County Employees' Retirement Association, Pasadena, Calif., said Marsha Richter, chief executive officer. Ms. Mazzocco had been acting CIO since March, when Kenneth L. Shaffer retired.
Dennis Johnson was named senior portfolio manager for corporate governance at the $196.7 billion California Public Employees' Retirement System, Sacramento, said Clark McKinley, spokesman. He is replacing Ted White, who left in March to become deputy executive director of the Council of Institutional Investors. Mr. Johnson will direct day-to-day activities of CalPERS' corporate governance unit and oversee the fund's focus list of underperforming companies. He will report to Christianna Wood, senior investment officer for global equity. Mr. Johnson was managing director at Citigroup Global Markets. Information on his replacement could not be obtained by press time.
Gregory J. Hahn was named managing director and chief investment officer of fixed income for Oppenheimer Holdings Inc.'s asset management business, the company said in a news release. Mr. Hahn was CIO at 40/86 Advisors; he will rejoin Michael Richman and Leo Dierckman, two former 40/86 colleagues who were named fixed-income portfolio managers at Oppenheimer earlier this summer. Whit Clay, spokesman for 40/86, said other members of the firm's fixed-income team have assumed the responsibilities of Messrs. Hahn, Richman and Dierckman.
Paul L. Audet was named head of cash management at BlackRock, according to Brian Beades, company spokesman. He replaces Mark A. Marinella, managing director and head of cash management, who recently left the firm for "personal reasons," said Mr. Beades. Mr. Marinella joined BlackRock when the firm bought State Street Research & Management. Mr. Audet, managing director and chief financial officer of BlackRock, will relinquish his duties as CFO on Oct. 1. Steven E. Buller, partner and co-director of global asset management services at Ernst & Young, has been hired as CFO.
Stuart Davies was named managing director and head of investments at Ivy Asset Management U.K., and Peter Rose was named director of investments. Both positions are new, said Kevin Heine, a spokesman for Ivy parent Bank of New York. Mr. Davies was a board director, a member of the investment committee and lead portfolio manager for two hedge funds of funds managed by Coronation International. Ramona Glass, a Coronation spokeswoman, said Mr. Davies left last November and a decision about replacing him has not been made. Mr. Rose was head of portfolio strategies and construction at International Asset Management. An IAM spokeswoman declined to comment.
Brett G. Wyard will join The Carlyle Group next month as managing director and co-head of Carlyle Strategic Partners, which invests in distressed securities, said Chris Ullman, spokesman. "Brett's background helps round out the team's experience, particularly in terms of discounted/marketable securities. The current team has more experience doing control deal buyouts," Mr. Ullman said. Mr. Wyard was a managing director in the corporate opportunities group at Oaktree Capital Management. John Frank, general counsel at Oaktree Capital did not return calls by press time seeking information on Mr. Wyard's replacement.
Reynolds Williams was elected chairman of the $25 billion South Carolina Retirement System's new investment commission, according to Michael Sponhour, spokesman. Mr. Williams, an attorney with the Florence, S.C.-based law firm of Wilcox, Buyck & Williams, was elected at the commission's first meeting, held Sept. 8. The commission was created under state retirement laws that went into effect July 1.
Kevin Sullivan was named a partner in charge of marketing at Seizert Capital Partners; he said he will run Seizert's new office in New York. Mr. Sullivan was director of client service at Loomis Sayles. Accompanying Mr. Sullivan will be Elizabeth Hammond, a vice president and client service executive at Loomis Sayles, who will be a regional marketer at Seizert. The two will be Seizert's first marketers, he said. Chris Lazzaro, a Loomis Sayles spokesman, said Mr. Sullivan's and Ms. Hammond's responsibilities have been absorbed by existing staffers.
