Andre van den Heuvel joined Merrill Lynch Investment Managers as head of institutional sales and client servicing in the Netherlands, according to an official with the firm who asked to not be identified. Mr. van den Heuvel reports to Leen Meijaard, head of the Benelux region for Merrill Lynch Investment Managers, and will be responsible for building the firm's position in the Netherlands, Belgium and Luxembourg. The position was created as a result of growing business in the Netherlands following Merrill Lynch Investment Managers' agreement earlier this year to manage $16 billion in assets for Stichting Pensioenfonds Philips, Eindhoven, according to a statement issued by Merrill Lynch Investment Managers. Philips had about $17.15 billion in Dutch pension assets as of Dec. 31, according to that company's annual report. Mr. van den Heuvel had been a director and head of marketing and sales with F&C Netherlands, a unit of F&C Asset Management. Jason Hollands, a spokesman for F&C Asset Management, could not comment on Mr. van den Heuvel's prior position by press time.
Bruce Pflug was named a managing director and head of institutional business development at HSBC Investments, according to spokesman Stephen Cohen. The position, which is new, was created to centralize the firm's institutional sales and services operations. Mr. Pflug will oversee North American sales activity for HSBC Halbis Partners and Sinopia Asset Management businesses. Mr. Pflug will be based in New York and report to HSBC Investments CEO Steve Baker. Mr. Pflug was a senior vice president with PIMCO, where he worked on the firm's consultant relations team. Mark Porterfield, PIMCO spokesman, could not be reached for comment about Mr. Pflug's replacement. Prior to joining PIMCO in October 2002, Mr. Pflug was the director of the consultant development team for Credit Suisse Asset Management.
Ben Williams-Thomas was hired by Northern Trust Corp. as vice president of custody sales for European pension funds, a new position, according to spokesman John O'Connell. Mr. Williams-Thomas was vice president of sales and marketing for Europe, Middle East and Africa at JPMorgan Investor Services. Information on his replacement was not available. Northern Trust also hired Marc Russell-Jones as vice president of sales. It is a new position, and he will focus on investment managers, particularly alternative asset managers. Mr. Russell-Jones was vice president, alternative investment services sales at Bank of New York, where he has not yet been replaced. Michael L. Slater was hired by Northern Trust as vice president, custody and asset administration sales to the Middle East and North African markets, also a new position. Mr. Slater was sales and relationship manager for the Middle East and North Africa at HSBC Institutional Fund Services. Information on a replacement was not available.
Patrick Sheedy will join hedge fund-of-funds manager Harris Alternatives as an analyst in the research group, a new position. The group "performs much of the initial and ongoing due diligence on the (hedge fund) managers in our funds," said Anita M. Nagler, chairman and CEO. Mr. Sheedy's position is part of an expansion of Harris Alternatives' research team, Ms. Nagler said. Mr. Sheedy was a senior analyst specializing in hedge funds at consultant Stratford Advisory Group. He was replaced by Lee Diamandakis, who was a growth stock analyst, said Susan McDermott, senior consultant and principal. Mr. Diamandakis will be replaced with an external candidate, Ms. McDermott said.