Charles Jacklin will take over as chief executive officer of Mellon Capital Management at the end of the year. Mr. Jacklin, the current president of the firm, will succeed Thomas Loeb, who will remain chairman, according to a news release from Mellon Capital. Mr. Jacklin will keep his title as president.
"This action is the result of a thoughtful succession management process that we have worked on collectively," Ronald P. O'Hanley, Mellon vice chairman and president of Mellon Institutional Asset Management, said in the release. "Tom has done a remarkable job furthering Mellon Capital's growth and worldwide reputation for consistent, risk-controlled investment performance."
Mr. Loeb, who has been CEO since 1983, will work closely with Mr. Jacklin on the transition, said Joseph Ailinger, spokesman. Mellon Capital Management, one the 11 investment management firms under the Mellon Institutional Asset Management umbrella, manages $134.9 billion in global quantitative strategies.
Michael Bennett joined Boeing Co., Chicago, as senior manager-equities and fixed income for the company's $44 billion pension fund. He replaced Brad Leak, who was promoted to senior manager-investment strategy and asset allocation at Boeing earlier this year. Mr. Bennett was a financial analyst for the $40 billion pension fund of Ford Motor Co., Dearborn, Mich. Marcey Evans, Ford spokeswoman, declined to provide the name of his replacement, saying the company doesn't provide information about employees below the corporate officer level.
John Abunassar was named chief executive officer of Allegiant Asset Management, the investment management arm of National City Bancorp, in addition to his roles as president and head of institutional business, Mr. Abunassar said. He replaces Ted Parker, who was named president and CEO of National City in Michigan. Mr. Abunassar will now be responsible for the entire asset management company, which includes both the institutional and Allegiant Funds retail businesses. Mr. Abunassar said he has been focused on institutional sales, consultant relationships, client service, marketing and product management since joining the company last year. Over the last 16 months, he added, the firm has rebuilt its sales and client services, added new investment teams and personnel and, in June, rebranded itself as Allegiant from National City Investment Management. The firm has roughly $25 billion in assets under management.
Bernie Knobbe, will join Countrywide Financial Corp., Pasadena, Calif., as senior vice president, benefits, on Dec. 12, he said. Mr. Knobbe will oversee the Countrywide 401(k) plan, with about $442 million in assets. He is currently senior director of global benefits for Gap Inc., San Francisco, overseeing its $436 million 401(k) plan. A Gap spokesman did not return a call seeking details on Mr. Knobbe's replacement.
Doug Wesley rejoined the $13.8 billion Illinois State Universities Retirement System, Champaign, as deputy chief investment officer. He replaces Daniel L. Allen, who was named CIO in June after John R. Krimmel left in January to become CIO at the $13.37 billion Kentucky Retirement System, Frankfort. Mr. Wesley was senior investment officer at the $12.9 billion Indiana Public Employees Retirement Fund, Indianapolis, which he joined last year; before that, he was an investment officer at Illinois SURS. Indiana PERF plans to conduct a search to replace Mr. Wesley, said Jeffry S. Carter, director-external affairs.
Steven N. Rappaport was named chairman of the board of the Credit Suisse Funds. He replaces Michael Kenneally, former global CEO of CSAM, who stepped down in June. Mr. Rappaport, a partner in private equity firms Lehigh Court and RZ Capital, has been a member of the Credit Suisse Funds' board since 1999, according to a news release.
Kathleen Johnston, Brian Scullion and Mio Stojkovich were appointed managing directors at William Blair Capital Partners, according to a official at William Blair who asked not to be named. Ms. Johnston was a principal at Lake Capital, according to a posting on William Blair's website. A spokeswoman at Lake Capital would not comment. Mr. Scullion is a partner in the corporate finance division of parent William Blair & Co. Mr. Stojkovich was a vice president at William Blair Capital Partners. William Blair Capital is reforming its fund management team after the majority of management staff departed in 2004 to form Chicago Growth Partners, an independent private equity firm.
Len Brennan was named principal and COO of Rainier Investment Management, said spokesman Tucker Hewes. Mr. Brennan assumes the COO title from Rainier's president, Glenn Haber, to whom he will report, according to a news release. Mr. Brennan left Russell Investment Group May 30 after 20 years with the firm, said Russell spokesman Chris Phillips. Most recently, Mr. Brennan oversaw worldwide third-party distribution as managing director, individual investor services, and he was president of Frank Russell Investment Management, Russell Funds Distributors and Frank Russell Investment Co. He was replaced in each position by Greg Stark.
Thomas D. Witz was named CIO of Jefferies Asset Management, a new position, according to Tom Tarrant, spokesman. "Asset management is an important growth area for Jefferies, and Tom Witz is a valuable addition to this effort," Richard B. Handler, CEO of parent Jefferies Group, said in a news release. Jefferies Asset Management has roughly $3 billion under management. Mr. Witz was managing director of investments and trading at Paloma Partners Management. Paloma Partners spokesman Hal Lux declined to comment.
Carol Miller was named senior vice president and portfolio manager at Federated Investors, said spokeswoman Lindsy Carmella. She will be a portfolio manager on the Federated Capital Appreciation Fund, a $3.2 billion large-cap to midcap equity fund, along with portfolio manager David Gilmore. Ms. Miller replaces Linda Duessel as a portfolio manager on the fund, but Ms. Duessel will remain as a strategist on the fund, said Ms. Carmella. Ms. Miller was an adjunct professor of portfolio management at Ohio State University.
Lee A. Delaporte was appointed co-portfolio manager of the Dreman/Claymore Dividend & Income Fund at Dreman Value Management, according to a news release. Mr. Delaporte joined the firm in 2004 as a senior vice president and portfolio manager. David Dreman, chairman and CIO, did not respond to calls for comment by press time.
Lesley Nettles was named vice president of institutional business development at American Century Investments, said Brian Spano, spokesman. It is a new position. Ms. Nettles will be responsible for business development in the Northeast for corporate, public and Taft-Hartley plans, and foundations and endowments. She was director of institutional sales and client service at Bank of America. Jon Goldstein, spokesman for Bank of America, did not return calls.
Raymond Decker was named vice president, retirement marketing and product management at AllianceBernstein. It is a new position, said Stephanie Giaramita, public relations manager. Mr. Decker is responsible for expanding the firm's institutional defined contribution business, leading the marketing campaign and product development. He reports to Joseph Healy, senior vice president, retirement products. Mr. Decker was vice president and director, IRA/small business retirement solutions, at Morgan Stanley. Linda Ward, an executive director, has replaced Mr. Decker in that role, a Morgan Stanley spokeswoman confirmed.
Helen Dowsey joined Watson Wyatt Worldwide as a senior consultant in the firm's defined contribution business, said Paul Deane-Williams, also a senior consultant at Watson Wyatt. She will focus on business development and client consulting. The position was added because Watson Wyatt's defined contribution business "is an expanding part" of the firm's overall business, according to Mr. Deane-Williams. Ms. Dowsey reports to Kevin Stratford, senior consultant. Ms. Dowsey was defined contribution communications manager and relationship manager at Winterthur Life U.K. Helen Gilchrist, another defined contribution communications manager and relationship manager, and defined contribution communications specialist Caroline Durn are handling Ms. Dowsey's prior responsibilities at Winterthur, said Paul Riddell, spokesman. There are no immediate plans to replace Ms. Dowsey.
Takanori Hiramoto was named president of Credit Suisse Asset Management's Japanese division, according to a news release. Shogo Yamaguchi, the division's current president, will become deputy country head and head of investments as CSAM consolidates its Japanese investment business. Mr. Hiramoto was president of Baring Asset Management's Japan business for the last six years. Isamu Kajino, Credit Suisse spokesman, could not be reached for immediate comment. Officials at Baring could not be reached by press time.
Giovanni Prezioso, general counsel of the SEC, announced that he is leaving to return to the private sector. He has not yet accepted another position and will remain with the SEC until April 2006, according to a news release. He was named general counsel in April 2002. "Giovanni's service at the SEC has coincided with the most significant expansion of the agency and the most important enlargement of our authority since the commission's earliest years. When the next chapter of the SEC's history is written, Giovanni Prezioso will rightfully occupy a prominent place," said Chairman Christopher Cox in the release.