Erik Becker and Gus Zinn were named co-portfolio managers of the $256 million Ivy Core Equity Fund, said Roger Hoadley, a spokesman for Ivy Investment Management parent Waddell & Reed Financial. Messrs. Becker and Zinn are replacing Jim Wineland, who "will focus fully on managing the Advisors Core Investment Fund and the W&R Target Core Equity Portfolio," according to a news release. Mr. Becker was assistant portfolio manager of the Ivy Core Equity Fund, the Advisors Core Investment Fund and the W&R Target Core Equity Portfolio. He will remain assistant portfolio manager of the Advisors Core and W&R Target funds. Mr. Zinn was assistant portfolio manager of the company's three science and technology funds; Mr. Hoadley said a replacement has yet to be named for Mr. Zinn in that capacity. Separately, Chace Brundige was named portfolio manager of the $73 million Waddell & Reed Advisors Tax-Managed Equity Fund. He replaces Barry Ogden, who will remain portfolio manager of the WRA Accumulative Fund and the Ivy Capital Appreciation Fund. Mr. Brundige will retain his previous responsibilities as an assistant portfolio manager on the large-cap growth equity team.
Andrew Welch was appointed head of the institutional client service team at Insight Investment Management, confirmed David Butcher, spokesman. Mr. Welch will lead the team responsible for managing institutional client relationships and will report to Sarah Aitken, Insight's head of institutional business. He replaces Mark Ahern, who will become head of international business development, excluding Europe. It is a new position. His responsibilities will include Insight's recently launched marketing operation in Japan, Mr. Butcher said. Mr. Welch was a senior client relationship manager and liability-driven investment specialist at Merrill Lynch Investment Managers. A Merrill Lynch spokeswoman who asked not to be named said Mr. Welch announced his departure in January and that the company is searching for his replacement. Insight had £88.7 billion ($154.9 billion) in assets under management as of Dec. 31.
Peter Tempesta joined Diversified Investment Advisors as vice president of sales for the Western region, said Wendy Daniels, spokeswoman. Based in Los Angeles, Mr. Tempesta will oversee sales in Southern California, Arizona and southern Nevada. He is replacing Marvin Deaver, who moved to the firm's Dallas office, said Ms. Daniels. Mr. Tempesta was vice president of sales for Wachovia Retirement Services. Mark Folk, spokesman for Wachovia, said the firm is close to selecting a replacement.
Sandra Dzinski joined INVESCO North America as a marketing director on the firm's public funds team, said spokesman Bill Hensel. It is a new position. She will be based in California and cover Western states. Ms. Dzinski was a vice president at GE Asset Management. GEAM spokesman Chris Linehan said the firm is currently considering candidates to fill the position.
Chris Rae joined long-short equity manager Chilton Investment as managing director in its client relations department, according to a company statement. Mr. Rae will have responsibility for institutional client relationships. Norman Champ, executive vice president, said the position was new. Mr. Rae was vice president in the pensions coverage group at Goldman Sachs. Andrea Raphael, a Goldman Sachs spokeswoman, said he has not been replaced.
David Free was hired as associate regional director for the U.S. institutional investor services sales team at Russell Investment Group, confirmed spokesman Matt Burkhard. It is a new position. Mr. Free, who is based in Chicago, reports to Tom Morton, director of consulting and alliance management. Mr. Free was an investment relationship manager at Northern Trust Investments. John O'Connell, vice president at Northern Trust, said Mr. Free's replacement is still under consideration.
Gillie Tomlinson was named director of U.K. consultant relations for Northern Trust Global Investments, according to Gordon Hogarth, head of business development for Europe, the Middle East and Africa. She replaces Amit Popat, who left the firm last year to pursue opportunities in the hedge fund industry, said Mr. Hogarth. The firm is expanding its business in the U.K. beyond its multimanager offerings, said Mr. Hogarth. Ms. Tomlinson was head of institutional business development at Artemis Investment Management. The company is in the process of filling her position, said spokesman Nick Wells.
Hart Woodson was named managing director and portfolio manager at Advent Capital Management. He and Tracy Maitland, president and chief investment officer of Advent, will co-manage a new global convertible strategy that the firm will start in the next three months, said spokeswoman Paige Reeve. Mr. Woodson will also assist Advent in growing its global long-only hedge fund and mutual fund strategies. Mr. Woodson was a senior vice president at Gabelli Asset Management, where he ran the firm's Global Convertible Securities Fund. The fund's other portfolio managers — Nancy E. Stuebe, Joshua Fenton and Mario Gabelli — will assume Mr. Woodson's duties, said Douglas Jamieson, Gabelli Asset president and chief operating officer.
Edythe "Dede" McClatchy Pahl was named executive director of the Investment Management Consultant Association, confirmed Kaaren Dean, director of marketing and communications. Ms. Pahl replaces Lee Zimmerman, who left in December to pursue a new job in the non-profit sector, Ms. Dean said. Ms. Pahl was a consultant for the American National Standards Institute.
Vlad Portnoy was named senior vice president of quantitative strategies at Jefferies & Co. Inc., a new position, confirmed spokesman Tom Tarrant. In addition, the firm hired financial engineers Valeri Smelyansky, Branko Stojkovic and Victor Miller. All four, who will develop Jefferies' electronic trading services, came from Banc of America Securities. Mr. Portnoy was replaced as head of quantitative strategies by Robert Almgren, who joined Banc of America Securities last year from the University of Toronto, according to bank spokeswoman Melissa Fox. She added the firm has "hired many new associates in equities over the past year and will continue that trend in 2006."
Brian H. Oswald was appointed chief financial officer at GSC Capital, replacing April Spencer, who will remain vice president of finance. Ms. Spencer will be responsible for the firm's move to a public REIT and complying with Sarbanes-Oxley requirements. Mr. Oswald was chief accounting officer at Capital Trust, a finance and investment management REIT. Details on his replacement were not available by press time. Separately, Gregory T. Mount resigned from GSC Capital's board of directors. He joined hedge fund Greywolf Capital Partners and left the board to avoid a conflict, said Roland Tomforde, spokesman. He is being replaced by Barry L. Zubrow, former chief administrative officer of Goldman Sachs who retired in 2003.
Andrey Krakovsky joined Highland Financial Holdings Group as director and portfolio manager and will manage asset-backed securities. The position is new, part of an expansion of the alternative investment manager's ABS credit team, according to a company statement. He was vice president of emerging markets trading at Morgan Stanley. Mark Lake, a Morgan Stanley spokesman, said Mr. Krakovsky left the firm last year; his duties were assumed by others on the emerging markets trading team.
Sandy Sinor joined Oppenheimer Investment Management as vice president of sales and marketing, confirmed Neal Wilkinson, managing director. It is a new position. She reports to Mr. Wilkinson. Ms. Sinor was senior vice president of sales at Lynch, Jones & Ryan. No replacement has been chosen yet, said a spokesman for Bank of New York Securities, LJR's parent.
Julian Onorato joined record keeper ExpertPlan as executive vice president and chief operating officer, said Elon Green, spokesman. It is a new position. Mr. Onorato is responsible for oversight of application development, operations and acquisition strategies, Mr. Green said. He was senior vice president of operations and technical services at Automatic Data Processing. Jaclyn Saccone, spokeswoman for ADP, did not return calls seeking information on Mr. Onorato's replacement.