Seth Alexander was named president of MIT Investment Management Co., which oversees the $6.7 billion Massachusetts Institute of Technology endowment, Cambridge, according to a statement released today by the firm's board. Effective May 15, he will succeed Allan Bufferd, who plans to retire in the summer. Mr. Alexander is a director of the investment office at Yale University, New Haven, Conn., where he works on the university's investments and portfolio strategy with "particular expertise in marketable securities, timber, asset allocation, hedge funds and international investments." Alex Banker, a director at Yale's endowment, couldn't be reached to discuss whether Mr. Alexander would be replaced. Along with the endowment assets, MITIMCO manages the institute's $2 billion faculty and employee defined benefit plan. Executive search firm Spencer Stuart assisted in the search for Mr. Bufferd's replacement.
Marc Fowler joined The Online 401k, a web-based 401(k) provider, as vice president of sales and national distribution, said Jackie Volovich, spokeswoman. It is a new position. Mr. Fowler was regional director of AUL Retirement Services. Jessica Mace, spokeswoman, did not return calls seeking comment on a replacement for Mr. Fowler.