Anthony "Tony" Koenig was promoted to senior vice president and CFO of Pioneer Investment Management USA, said spokesman Geoff Smith. Mr. Koenig was corporate controller. He replaces Mark Goodwin, who was promoted in June to executive vice president and COO. Mr. Smith said Pioneer has not yet named a new corporate controller.
Paul Dunning will become CEO of the London office of hedge fund-of-funds manager Financial Risk Management on Nov. 14. He partially replaces Luke Ellis, global head of research, who become a non-executive director of research, investments and client service, according to a letter sent to clients earlier this year. Mr. Dunning was CEO of HSBC Republic Investments, which manages about $5 billion in hedge funds of funds. Information about Mr. Dunning's replacement was not available by press time.
Francis Ellison was hired as head of U.K. institutional sales at SEI Investments (Europe), which manages about £2.4 billion ($4.3 billion) in U.K. institutional assets, said Caroline Deutsch, spokeswoman. It is a new position, the result of "tremendous growth in the U.K., which has gathered momentum recently," Ms. Deutsch said. Mr. Ellison was head of European institutional business development and client servicing for Jupiter Asset Management, where he was replaced by Charlie Crole, who was a senior client director responsible for key institutional investors at Schroders, Jupiter spokesman Chris Duncan said. Jupiter's institutional business manages assets of about £2 billion.
Michael Goy and David Maddison of Railways Pensions Management, Darlington, England, were promoted to new positions as part of an overall restructuring of the pension plan's management structure, said spokeswoman Jessica Gooch. Mr. Goy, former managing director of pensions management, was named deputy chief executive in charge of Railpen Investments, which runs Railpen's £14.5 billion ($25.6 billion) in pension assets, and Pensions Management, which handles the administration of the plans. "The aim is to unite the administration side with the investment side to work together more uniformly," Ms. Gooch said. Mr. Maddison will become client services director of both operating subsidiaries, a role that "pulls together not only the administration aspect, but also service issues," Ms. Gooch said. Neither Mr. Goy's nor Mr. Maddison's former positions will be replaced.
John Hutton was named Britain's work and pensions secretary today, replacing David Blunkett, who resigned. Mr. Hutton was the cabinet office minister, largely responsible for working with the prime minister's office to coordinate policies and operations across governmental departments. Mr. Blunkett resigned amid controversy over his failure to tell an advisory committee about some private-sector appointments he had while briefly out of government earlier this year. At a press conference today, Mr. Blunkett said he had believed that clearing those business appointments was "voluntary and not mandatory. ... I am guilty of a mistake," Mr. Blunkett said. "I am paying the price for it and I make no bones about saying that that is my fault."