Los Angeles County Employees Retirement Association, Pasadena, Calif., hired Heidrick & Struggles to assist in the search for a new CEO, said Marsha Richter, current CEO of the $32 billion fund. Ms. Richter plans to retire in mid-October.
Brian DiDonato was promoted to president of GMAC Institutional Advisors, succeeding Nathan Kornfeld, who left the company in late November, said Joyce Patterson, spokeswoman. Mr. DiDonato, a managing director, was also named a member of parent GMAC Commercial Holding's executive committee and co-chair of the global funds management committee. He will continue to manage GMAC Institutional Advisors' levered finance unit, which invests in high-yield debt and real estate securities.