Carol Kontor will resign from her post as state investment officer at the Nebraska Investment Council, Lincoln, said Gail Werner-Robertson, chairwoman. Ms. Kontor will remain in her role until officials at the $10.8 billion council name her replacement; she has agreed to stay until May 31, if necessary. Ms. Werner-Robertson said she believes Ms. Kontor wants to spend more time with family, adding, "No one wants to see her go." An investment committee will recommend a replacement, who will require Gov. Dave Heineman's approval. There isn't a specific timetable for naming a replacement, but Ms. Werner-Robertson said she would be "nervous" if the investment committee hasn't narrowed the search down to finalists by February. Ms. Kontor could not be reached for comment by press time.
Susan Hirsch joined TIAA-CREF as a managing director on its $11 billion large-cap growth equity team, according to a company statement. It is a new position, created to help manage the large amount of assets, the statement said. Ms. Hirsch will work with Greg Luttrell, managing director, who took over the portfolios in 2003. She will report to Bill Riegel, head of global equity portfolio management. Ms. Hirsch was executive vice president for midcap growth equity and manager of the technology sector fund at Jennison Associates. Jennison officials couldn't be reached to comment on how she will be replaced.
David Sandrew was named sales director for exchange-traded funds at State Street Global Advisors. The position is new. He will report to Greg Ehret, co-head of SSgA Advisor Strategies. Mr. Sandrew was a director of equity finance at Barclays Bank's Prime Services Group. "One of the reasons he complements myself and the team is that we have a lot of buy-side experience and he brings the sell-side (experience)," said Mr. Ehret. SSgA currently has 21 ETFs in the United States with a combined $80 billion in assets.
Robert A. Unger, a veteran equity manager in Columbia Management's Portland office, will retire from the firm, and Jeffrey L. Rippey, a high-yield bond manager, is leaving, said spokesman Tom Gariepy. Emil Gjester, who has been co-manager of the Columbia Strategic Investor, Columbia Young Investor and CMG Strategic Equity funds with Mr. Unger, will become the sole manager of those funds. The three high-yield funds Mr. Rippey managed with Kurt Havnaer - Columbia High Yield, Columbia High Yield Variable Securities and CMB High Yield- will now be managed by Columbia's Boston-based high-yield team: Stephen Peacher, CIO of taxable fixed income, and portfolio managers Kevin Cronk and Thomas LaPointe. Mr. Gariepy said. Mr. Havnaer will remain on the team in Portland in another capacity, he said.
Martin Loeser joined PRS Group as a portfolio manager in the firm's hedge fund-of-funds unit. He will report to Mark Casa, director of investments. Mr. Loeser replaces Jerry Levin, who returned to New York for family reasons, said Medon A. Michaelides, director of U.S. institutional sales at PRS, which manages about $1.5 billion in hedge funds of funds and convertible arbitrage strategies for institutional and high-net-worth clients. Mr. Loeser was a senior investment analyst at hedge fund-of-funds manager Ivy Asset Management, where he focused on emerging manager research and selection. Kevin Heine, a spokesman for Bank of New York, Ivy's parent company, was unable to provide information about Mr. Loeser's replacement by press time.
Thomas Hoey was named an analyst on Babson Capital Management's small-cap/midcap value team, a new position, according to a news release. Mr. Hoey will report to managing director and team leader Lance James. Mr. Hoey was a senior vice president and senior analyst at Netols Asset Management, which he joined in June 2004 from Putnam Investments, where he was lead portfolio manager of the Putnam Midcap Value fund. Jeff Netols, president of Netols Asset Management, wasn't immediately available to discuss whether Mr. Hoey would be replaced.