Paula A. Ponsetto was named managing director for public funds at Victory Capital Management, confirmed Meghan Lantier, spokeswoman. It is a new position. Ms. Ponsetto is responsible for marketing and client services for Victory's institutional investment management services to public funds on the West Coast. She will report to Jack Calcagno, managing director and head of Victory's public funds business. Victory manages a total of $56 billion in assets, including $15 billion for 40 public funds. Ms. Ponsetto was a director of marketing and client services at Pacific Financial Research, which was acquired earlier this year by Barrow, Hanley, Mewhinney & Strauss.
Peter Scales, chief executive of the £3.3 billion ($5.7 billion) London Pensions Fund Authority Pension Fund, London, will retire at the end of 2006, corporate manager Peter Harris said. Mr. Scales, who oversees one of the U.K.'s largest local authority pension plans, has been credited with implementing important changes to the group's investment strategies in 2005 to better match assets with liabilities. He has been CEO for more than 15 years and "hope(s) to continue in trustee and advisory roles if possible," according to a prepared statement. A successor has not been named, and fund officials hope to appoint a replacement this summer. An external firm has been hired to help with the search; Mr. Harris would not elaborate.