Dennis Shea replaced Joseph McAlinden as managing director, CIO and head of global equity at Morgan Stanley Investment Management, confirmed spokesman Chad Peterson. Mr. Shea, who was managing director and director of global equity research in Morgan Stanley's equity division, officially made the transition to the firm's investment management division today, according to a memo sent to employees from Owen Thomas, president of MSIM. Mr. Shea will report directly to Mr. Thomas. MSIM's U.S. equity, real estate, global asset allocation, London equity, international value equity, Japanese equity, emerging markets equity and equity trading teams will all report into Mr. Shea, according to the memo.
Mr. McAlinden was named chief global strategist, a new position. He will continue to manage the Morgan Stanley Multi-Asset Class Fund and the Morgan Stanley Allocator Fund, and will also develop alternative investment strategies "based on macro themes," according to the memo.
Alex Hsiao was named chief investment officer at Progress Investment Management, according to a Progress press release. Chau Nguyen and Emma McIntosh, both directors of marketing and client relations, were not available for further details. Higdon Partners assisted in the search. Mr. Hsiao was CIO at the $3.7 billion California Endowment, Los Angeles. He was replaced by Rene Goupillaud in September, said Diana Kim, endowment spokeswoman.
Leon M. Metzger, vice chairman of hedge fund manager Paloma Partners, is leaving the firm, according to a memo from the firm's CEO, Don Sussman. Mr. Metzger has worked for Paloma since 1988. Mr. Metzger said he will leave Paloma by the end of February and is considering his next career move. Mr. Sussman and Hal Lux, a Paloma managing director, weren't available for comment about a replacement.
Thomas Kamp was named chief investment officer and managing director of Cornerstone Capital Management, said CEO Andrew Wyatt. The position is new and was created because the firm, which has primarily managed money for high-net-worth individuals, is building its internal research capabilities to pursue more institutional investors, said Mr. Wyatt. Cornerstone is in the process of adding to its research team, and Mr. Wyatt said that Mr. Kamp will "quarterback" the group. Mr. Kamp was a senior vice president and portfolio manager at Alliance Capital Management, where he worked on the firm's large-cap growth strategy. John Meyers, Alliance spokesman, said that Mr. Kamp will not be replaced and his responsibilities will be handled by other members of the large-cap growth team.
Robert F. Cummings Jr., Peter R. Frank, Robert A. Hamwee, Frederick H. Horton, Thomas V. Inglesby, Matthew C. Kaufman, Thomas J. Libassi, Christine K. Vanden Beukel, Andrew J. Wagner and Joseph H. Wender were promoted to senior managing director positions at GSC Partners. Each was a managing director. Promoted to managing director were Marc Ciancimino, Peter D. Firth, Seth M. Katzenstein, Daniel C. Lukas, Mayur P. Patel, Nick Petrusic, Phiip Raygorodetsky, David H. Robbins, Harvey E. Siegel, Edward S. Steffelin, Alexander B. Wright and Wenbo Zhu; they had been vice president. GSC Partners is an institutional alternative investments manager with $9.2 billion under management. The firm raised $140 million in debt to give some employees a larger equity stake in the firm and to retire shares held by senior executives.
Eddie Vandiver joined Deutsche Asset Management as director of alternative and quantitative business development in the U.S. The position is new, said Rosalia Scampoli, a DeAM spokeswoman. Mr. Vandiver headed U.S. public pension fund sales for AIG Global Investment Group. Peter Tulupman, an AIG spokesman, said a search is on for a replacement. Prior to working at AIG, Mr. Vandiver was CIO of the $18.8 billion Public Employees Retirement System of Mississippi, Jackson. Additionally, Stephane Amara joined DeAM's quantitative strategies group as director of alternative and quantitative business development for Canada, a new position. He will handle institutional sales and client service in western Canada and for some clients in Quebec and Ontario, Ms. Scampoli said. Mr. Amara was head of sales and consultant relations for Canada for Bank of Ireland Asset Management. Steve Holland, Bank of Ireland Asset's director of sales, did not return a call by press time seeking Mr. Amara's replacement.
Joseph Russick joined Blackstone Group as a principal. He is a member of the investment team of the firm's new Distressed Debt hedge fund, which was launched in July and already closed with $500 million under management. His position is new and part of an expansion of the team, said John Ford, a spokesman for Blackstone. Mr. Russick was a vice president of hedge fund manager Bennett Restructuring Funds. Information about his replacement could not be obtained by press time.
Panda Hershey will join TIAA-CREF in early March as director for the alternatives team. She will be based in a new San Francisco office. Ms. Hershey was portfolio manager in the private equity unit of the $206.1 billion California Public Employees' Retirement System, Sacramento. She left CalPERS earlier this month and has not yet been replaced, said Brad Pacheco, spokesman.
Fred Fogg was hired as director and head of U.S. transition management for Citigroup, confirmed Danielle Romero-Apsilos, spokeswoman. It is a new position. He will report to Timothy Wilkinson, the London-based global head of transition management. Mr. Fogg was executive director and head of equity transition management at Morgan Stanley, where he was replaced internally by Jason Gans, according to spokesman Mark Lake. Further details could not be learned by press time.
Mark Albertson, executive director of Morgan Stanley Real Estate, is the new head of the firm's $4.5 billion Prime Property Fund, replacing Joe Thomas. Mr. Thomas, former managing director and head of the fund, is leaving the firm to "pursue other opportunities," said Alyson D'Ambrisi, vice president and spokeswoman of Morgan Stanley's investment banking division. Mr. Albertson was head of investment strategy/research for Morgan Stanley Real Estate's U.S. investing group. No other information was available at press time.
Richard Clarida was named executive vice president and global strategic adviser at PIMCO, confirmed spokesman Mark Porterfield. Mr. Clarida, who will be based in New York, was chief economic strategist at Clinton Group Investment Advisors. He was assistant U.S. Treasury secretary from 2001-2003 and former chairman of the Columbia University economics department. PIMCO also named Edward Devlin as senior vice president and Canadian portfolio manager. He will be based in Newport Beach, Calif. Mr. Devlin was executive director of structured credit trading-repackaging at Lehman Brothers' London office, where he developed products to capitalize on global relative value in the credit markets.
Messrs. Clarida and Devlin both hold new positions, and they will report to Bill Powers, PIMCO managing director, senior portfolio manager and investment committee member. Separately, Paul Harrison was appointed vice president, business development for PIMCO's U.K. business development team in London, confirmed spokeswoman Emma Oakman. It is a new position. He will report to Paul Craven, head of U.K. business development. Mr. Harrison was head of business development for PIMCO Australia.
Brian Fehrenbach was hired as head of fixed-income derivatives at UBS Global Asset Management, said Peter Casey, spokesman. It is a new position. Mr. Fehrenbach will be responsible for valuing, researching and trading fixed-income derivatives. He was a managing director in Bank of America's global strategy trading unit. Eloise Hale, a BofA spokeswoman, did not return calls by press time seeking information on a replacement.
James F. Keegan was named senior vice president at American Century Investments and senior portfolio manager in its fixed-income division, which oversees $19 billion, said Ancel Martinez, spokesman.
The position is new. He will have overall responsibility for the taxable credit team, Mr. Martinez said. Mr. Keegan had been spending time with his family since he left Westmoreland Capital Management, where he was chief investment officer, in 2003, Mr. Martinez said.
Samuel Joab joined FrontPoint Partners as a portfolio manager on the firm's new pan-European long-short equity investment team. He was a portfolio manager in the London office of Merrill Lynch; officials could not be reached by press time about a replacement.
Greg White, Nancy Ward and Emily Kemp were named to newly created positions at Putnam Investments, said William Sullivan, director, institutional product management. Mr. White was named team leader for Putnam's fixed-income investment product team. He was a managing director and senior salesman with Lehman Brothers; Lehman spokeswoman Kerry Cohen couldn't immediately be reached for comment about a replacement. Ms. Ward was named a senior investment product manager with the U.S. large-cap product management team. She was a U.S. equity product portfolio manager with GE Asset Management; spokesman Chris Linehan said GEAM hired Mary Flounders Green to fill that position. Ms. Kemp was named investment product manager with the small-cap and midcap investment product team; she was a sales professional with Sanofi-Aventis.
Mark Archer was named managing director of European distribution for Wachovia Global Asset Management, the new brand name Evergreen Investments launched today for conducting business development, sales and distribution efforts in non-U.S. markets. It is a new position. He will be based in London and report to Patrick O'Brien, president of Evergreen Institutional, according to a news release. Mr. Archer was co-head of institutional sales and market, Europe for RCM. Julie Chen, a U.S.-based spokeswoman for RCM, didn't immediately have information on Mr. Archer's replacement.
John McCareins was hired as a manager research executive and Julie Castillo, client service executive, at Northern Trust Global Advisors, the manager-of-managers unit of Northern Trust Global Investments, said Guy Lawrence, spokesman. Both are new positions. Mr. McCareins was vice president of product development at T. Rowe Price. Brian Lewbart, a T. Rowe Price spokesman, said the firm is currently searching for Mr. McCareins' replacement and has no specific timeframe for completion. Ms. Castillo was vice president of shared transaction services for the $8 billion Church Pension Fund, New York. Dan Castle, director of shared transaction services at the Church Pension Fund, said Ms. Castillo has been replaced, but he declined to give details.
Ben Kajtazi was appointed senior relationship manager for the Bank of New York's U.K. pension clients, confirmed spokesman Ivan Royle. It is a new position. Mr. Kajtazi will report to Robert Darmanin, head of European custody and pensions. Mr. Kajtazi was associate director for institutional investors at KAS BANK, where he was involved in the company's expansion into global custody service for U.K. pension funds. A spokesman at KAS BANK who asked not to be named did not have information on Mr. Kajtazi's replacement.
Scott Maguire was named director of client and consultant relations for BKF Capital Group, according to a news release. He replaces Stephen Symonds, who will leave the firm this month to "consider future options", according to spokesman Mark Semer. Mr. Maguire has been the regional director of sales, marketing and client services in the mid-Atlantic region for BKF. The firm will hire someone to handle Mr. Maguire's regional responsibilities. Mr. Maguire will report to Stephen Eckenberger, senior vice president of sales and marketing. Also, BKF named James Mylett vice president and director of institutional client relations/portfolio specialist. The position is an "enhanced" role for Mr. Mylett, who has been a portfolio specialist on BKF's long-only team since 2000.
Tracy Wills-Zapata joined alternatives manager Campbell & Co. as managing director of global institutional sales. The position is new, although Ms. Wills-Zapata assumes responsibility for sales in Western Europe from David Moore, who left the firm to pursue other interests, said Meg Bode, a spokeswoman. Ms. Wills-Zapata was managing director responsible for marketing at DB Advisors, a division of the global equities division of Deutsche Bank. Rohini Pragasam, a Deutsche Bank spokeswoman, said DB Advisors was merged into other parts of Deutsche Bank.
Thomas Carrabine joined McMorgan & Co. as regional director of sales at the firm's Chicago office, confirmed Sarah Lazarus, spokeswoman. Mr. Carrabine will work with plan sponsors and investment consultants in the Midwest region, representing both McMorgan and NYLIM Retirement Plan Services, a McMorgan affiliate. He was an institutional investment consultant at Clark Consulting. Anne O'Day, Clark Consulting spokeswoman, did not return calls seeking information about his replacement.
Barbara Barrow was named vice president, business development, at CIBC Mellon, confirmed Cheryl Ficker, director of corporate affairs. It is a new position. Ms. Barrow was executive director, business development for the company's investment fund business. She will be replaced by Gordon Kosokowsky, who was an executive in the business development sector at Marsh & McLennan, Ms. Ficker said. Marsh & McLennan spokesman Al Modugno declined to comment on a replacement, citing company policy.1