Ronald E. Robison was named president of funds for Van Kampen Asset Management, according to spokesman Chad Peterson. Mr. Robison, who had been the executive vice president of funds in the Van Kampen fund family, replaces Mitchell M. Merin. Van Kampen Investments is owned by Morgan Stanley, and last week Mr. Merin announced that he will retire from his position as president and COO of Morgan Stanley Investment Management. He officially announced Thursday at a Van Kampen board meeting that he will retire from the subsidiary as president of funds. Mr. Merin also resigned as a trustee of Van Kampen's open-end funds. Richard Powers III also announced his resignation as a trustee of the Van Kampen funds. How Mr. Robison's former responsibilities will be handled has not been determined, said Mr. Peterson, adding that no details were available on who will replace Messrs. Merin and Powers as trustees.
Christopher T. Daniel joined Praesidian Capital Investors as managing director. It is a new position. He will head the firm's new office in Los Angeles and will be involved in transaction origination, finding investments and portfolio management for Praesidian, which provides mezzanine debt to middle-market companies, said Dan Jacobs, a spokesman. Mr. Daniel was a portfolio manager for a family office, which Mr. Jacobs declined to name.
Barry Mandinach was promoted to chief marketing officer overseeing institutional and wholesale distribution for UBS Global Asset Management, and Mary Tritley was promoted to head of institutional distribution, said spokesman Peter Casey. The two replace Victor Dodig, former CEO, who handled institutional marketing. Mr. Dodig left in April to join CIBC Wood Gundy. Previously, Mr. Mandinach was a managing director overseeing only wholesale distribution, and Ms. Tritley was managing director and head of the firm's subadvisory distribution business. Both will retain their previous responsibilities.
William J. McDonough announced he will resign as chairman of the Public Company Accounting Oversight Board effective Nov. 30 or when his successor is in place, whichever is sooner, according to a PCAOB statement. Mr. McDonough was the second chairman of the five-member board, joining in June 2003, said Mike Shokouhi, spokesman. The SEC appoints the chairman. No information was available from the SEC on how that process will proceed. The PCAOB was formed in January 2003 under the Sarbanes-Oxley Act to oversee the auditors of public companies. "I have a wide range of interests in corporate governance, finance and international affairs and will explore one or a variety of activities in those fields; I enjoy perfect health and have not the slightest interest in retiring, now or ever," Mr. McDonough said in the statement. Mr. McDonough will remain chairman of the investments committee of the $26.3 billion United Nations Joint Staff Pension Fund, New York, among positions on other boards, the statement said.