Joseph W. Hill joined hedge fund manager Halcyon Asset Management as managing principal and director of client relations. The position is new, said Shellie Roth, a company spokeswoman. He oversees the client relations and capital raising teams. Mr. Hill was managing director and co-head of the hedge fund capital raising group at Credit Suisse First Boston. Mary Claire Delaney, a CSFB spokeswoman, did not return a call by press time regarding information about Mr. Hill's replacement.
Montana Gov. Brian Schweitzer is asking the Montana Public Employees' Retirement Board to rescind an offer made to Terry Teichrow, hired in late October as executive director of the $4 billion Montana Public Employee Retirement Administration, Helena, and reopen the hiring process. In a Nov. 10 letter to Carole Carey, president of the retirement board, Mr. Schweitzer said the board may have violated the state's open meeting and public participation laws in the process of hiring Mr. Teichrow, a grant writer for the state and a former retirement board president. Mr. Teichrow was hired to replace Michael O'Connor, who will retire at year's end. Mr. Schweitzer said in the letter that he has "reason to believe the position was not adequately advertised and the screening process and standards by which the applicants were rated were not fairly administered." He also noted the retirement board did not allow an employee from the state budget office to attend the selection meeting, "which may constitute violations of Montana's constitution and Montana statute," according to the letter. The governor has appointed a committee to investigate the hiring process, according to the letter. Ms. Carey said the board scheduled a special meeting for Wednesday to discuss the matter and she declined additional comment until after the meeting.