Susan Ferris Wyderko was named acting director of the SEC's investment management division, succeeding Meyer Eisenberg, who retired. SEC Chairman Christopher Cox has not yet named a director to the division, which oversees mutual funds and investment advisers. Ms. Wyderko was the director of the regulator's office of investor education and assistance. Geraldine Walsh, deputy director of the division, will be acting director while Ms. Wyderko is on assignment in the investment management division.
Jay Rushin joined AIG SunAmerica Asset Management as a senior vice president and portfolio manager of the SunAmerica Growth Opportunities fund and the SunAmerica New Century fund, according to an SEC filing by SunAmerica Equity Funds. Mr. Rushin replaces a team led by CIO Tim Pettee, which, according to an Oct. 18 filing, took over management of those funds from Brian Clifford. Christopher Lynch, a human resources manager with AIG SunAmerica, wasn't immediately available for comment. Mr. Rushin was a portfolio manager with AIM Investments, according to the Jan. 6 filing, where he led a small-cap and midcap growth team until September.
Mary L. Schapiro was named chairman and CEO of NASD, effective Dec. 31, 2006. Ms. Schapiro, currently vice chairman and president of NASD's regulatory policy and oversight division, succeeds Robert R. Glauber, who will remain chairman and CEO until the end of the year. "In announcing Mary's election now, the board of governors is acting to ensure a smooth handover in NASD's leadership as Bob Glauber prepares to step down late this year at the end of his current term," said Richard F. Brueckner, CEO of securities firm Pershing LLC, and the presiding governor of the NASD Board of Governors, in a news release. Mr. Brueckner also served on the special committee in charge of selecting NASD's next chairman and chief executive.
John Morabito joined Prudential Retirement Services as senior vice president of national corporate sales, said Darrell Oliver, spokesman. He replaces George Castinerias, who is now senior vice president of retirement income. Mr. Morabito will lead the sales team for corporate defined benefit and defined contribution plans up to $2 billion in assets. He was national director of retirement and savings at MetLife; Toni Griffin, spokeswoman for MetLife, could not be reached by press time for comment on Mr. Morabito's replacement.
Edward M. Smith resigned as chairman and trustee of the $11 billion Illinois State Board of Investment, Chicago. Mr. Smith said he wants to devote more time to his union activities; he is chairman of the nearly $1 billion Laborers, Central Pension Fund, Jacksonville, Ill., and trustee of the $1.2 billion Laborers, International Union pension fund, Washington. Mr. Smith also wants to spend more time as a member of the Change to Win coalition of unions, set up as an alternative to the AFL-CIO, assist workers with Hurricane Katrina rebuilding contracts, and work for the re-election of Gov. Rod R. Blagojevich in 2006, he said. He was appointed in 2003 by Mr. Blagojevich. The board will vote at its March meeting to elect a successor. Gordon John Mazzotti, vice chairman, will be chairman in the interim. Mr. Blagojevich hasn't yet appointed a replacement trustee for Mr. Smith.