Frank Rango and Henry Levin, senior portfolio managers and securities analysts for John A. Levin & Co.'s event-driven hedge fund strategy, will resign in the first half of next year, according to a news release. The company will liquidate its event-driven portfolios - which account for roughly 17%, or $2.1 billion, of its $12.4 billion in assets under management - and return the money to clients. "The decision to wind up the funds was made following negotiations with all key event-driven investment personnel regarding compensation arrangements going forward," John Siciliano, president and CEO, said in the news release. Also, Philip Friedman was named CIO of the company, according to a separate news release. Mr. Friedman was a senior portfolio manager and securities analyst for the firm's long-only team. Ruth Pachman, spokeswoman, was unable to offer further details on any of the personnel moves by press time.
Campbell Fleming was named head of JPMorgan Asset Management's U.K. business, a new position. Mr. Fleming, formerly European head of technology and operations for the company, will oversee the institutional, retail, investment trust, and life and pensions divisions. He joined JPMorgan in 1997 as head of U.K. retail operations. Spokeswoman Emma Collins said Mr. Fleming's previous duties will be split between Andrew Nixon, European head of technology, and Mark Norris, European head of operations.
Ravi Rastogi will join Watson Wyatt Investment Consulting as a senior investment consultant, the fifth senior consultant hired in the past six months, said spokesman Paul Deane-Williams. It's a new position. Mr. Rastogi is a principal and business manager at PSolve Asset Solutions; John Conroy, a principal at PSolve, said the firm is in the process of recruiting, though it won't necessarily hire a replacement for Mr. Rastogi.
Art Bacci was promoted to president and CEO of Trustar Retirement Services, a retirement plan services provider and subsidiary of Principal Financial Group. Mr. Bacci replaced Ned Burmeister, who became vice president, CFO and risk manager of Principal International Inc., said Principal spokeswoman Terri Shell. Mr. Bacci was vice president and CFO of Trustar; the firm is searching for a replacement.
Janet Trombley was named senior vice president, institutional client services at Delaware Investments, said spokeswoman Laurel O'Brien. Ms. Trombley was brought in to expand the firm's senior level client service capabilities in response to strong growth in its institutional business, Kevin J. Lucey, executive vice president and chief of sales, client services and marketing, said in a news release. She replaces David Prince, who became senior vice president, client services and moved into a broader sales/client service/consultant relations role supporting Taft-Hartley clients, said Ms. O'Brien. Ms. Trombley was assistant treasurer, benefit plans investments, for Campbell Soup Co., Camden, N.J. Terry K. Danahy, Campbell's senior vice president, human resources, was not immediately available to discuss whether Ms. Trombley had been replaced. According to the Money Market Directory, Campbell has about $1.4 billion in defined benefit assets and roughly $570 million in savings and 401(k) plan assets.
Christopher R. O'Dea joined Mesirow Financial as a managing director, said Laura Davies, a Mesirow spokeswoman. He will be responsible for introducing Mesirow's U.S. value equity strategy to institutional investors in Europe. It is a new position. Mr. O'Dea was a senior vice president and head of international marketing at Columbia Wanger Asset Management, said Marilyn McCarthy, a Columbia spokeswoman. His responsibilities were consolidated and are being handled by parent company Columbia Management Group.
Jonathan Thomas was appointed executive vice president at American Century Investments, overseeing the firm's financial and administrative functions, confirmed spokesman Chris Doyle. Mr. Thomas will replace Robert T. Jackson, the company's retiring CFO and administrative officer, effective Nov. 7. Mr. Thomas was a managing director and COO of global services at Morgan Stanley Investment Management. Chad Peterson, spokesman at Morgan Stanley, did not return calls for comment by press time.