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.
Eileen Kennedy rejoined Gartmore Group as executive vice president and global CFO, said Jessica Perry, Gartmore spokeswoman. In February 2004 Ms. Kennedy had left Gartmore, where she was CFO for the United States, to become senior vice president and CFO of Nationwide Financial Services, in which Gartmore is a majority owner.
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.