Omar Abukhadra joined Lehman Brothers as managing director, head of the firm's global structured asset management group and European head of absolute return strategies. The position is new, part of an expansion of Lehman Brothers' alternative asset management capabilities, said Randall Whitestone, a spokesman. Mr. Abukhadra reports to Thierry Sciard, the European head of investment management, and Jolyne Caruso, global head of absolute return strategies. Mr. Abukhadra was global head of equity, derivatives and credit markets at French investment bank Calyon.
George Walker, head of alternative investments at Goldman Sachs, is close to accepting a position as head of asset management at Lehman Brothers, according to a source close to Mr. Walker. While the negotiations are not final, Mr. Walker could join Lehman by the end of the month, the source said. Mr. Walker directed a call for comment to Goldman Sachs spokesman Peter Rose, who declined to comment. Randy Whitestone, spokesman for Lehman, also decline to comment.
Lehman Brothers' asset management unit had been led by Theodore Janulis, global head of investment management, who moved over to manage the firm's mortgage capital business last month.
John A. Somers, head of fixed income and real estate at TIAA-CREF, will retire next month. Ed Grzybowski, CIO, will replace him on an interim basis until a search for successor is completed. Glen Weiner, TIAA-CREF spokesman, said that company officials are evaluating whether to appoint one person or two people to head fixed income and real estate, respectively.
David Rogers, senior vice president for the private equity unit of the Ontario Municipal Employees' Retirement System, Toronto, is leaving to pursue other opportunities, said Debbie Oakley, senior vice president of corporate affairs at the C$44 billion (US$40 billion) fund. Mr. Rogers will remain with the system until the fund finds a new head for the private equity unit, Ms. Oakley said. OMERS has C$2.4 billion in private equity, or about 6% of plan assets, which officials plan to increase to 10%, she said.
John C. Clavin joined Merganser Capital Management as senior vice president, director of marketing, according to a news release from the fixed-income boutique. He replaces Brian R. Lauzon, who said he is leaving in June to attend the Wharton School of the University of Pennsylvania. Mr. Clavin left Standish Mellon Asset Management in mid-2005, where he was an executive vice president in charge of that firm's new business, client service and marketing teams. Erik Knutzen assumed Mr. Clavin's position in December, said Standish Mellon spokesman Joseph Ailinger.
Charles Wyman joined hedge fund manager ARX Investment Management as chief risk officer and portfolio manager. The position is new, said Craig Kaplan, director of investor relations. Mr. Wyman was executive vice president, head of global credit research and chairman of the counterparty risk committee of PIMCO. He also was co-manager of the $2.6 billion PIMCO High Income Fund until April 30, according to a May 1 statement from PIMCO. Ivor Schucking, executive vice president, will be the head of global credit research and chairman of the counterparty risk committee, said Mark Porterfield, a PIMCO spokesman. Mr. Wyman's duties with the High Income Fund are being handled by other members of the fund's management team. Mr. Wyman worked with Dwight Sipprelle, ARX co-founder, CEO and global portfolio manager, in the global high-yield department of Morgan Stanley ending in 2000, Mr. Kaplan said.
Keith Shepherd was appointed head of investment management for Railpen Investments, which manages the £17 billion ($32 billion) Railways Pension Scheme, Darlington, England. It is a new position, said spokeswoman Jessica Gooch. Mr. Shepherd, who will report to Investment Director Brendan Reville, will manage a team of four in-house investment professionals and oversee "the assessment and appointment" of external managers, Ms. Gooch said. Railpen currently has about 35 fund managers on its roster. Mr. Shepherd is scheduled to join Railpen in June. He was head of public equities at the Wellcome Trust, London, a medical charity with £11.6 billion in assets as of Sept. 30, according to its annual report. The Wellcome Trust is in the process of recruiting a replacement, according to Craig Brierley, media officer.
George Mathewson became chairman of hedge fund manager Toscafund Holdings. He will work with Martin Hughes, Toscafund founder and CEO, according to a statement from the company. Neither Mr. Hughes nor William Clutterbuck, a Toscafund spokesman, returned calls seeking information about Mr. Mathewson's predecessor. Mr. Mathewson retired as chairman of Royal Bank of Scotland on April 26. Tom McKillop, who was CEO of bioscience firm Astra Zeneca, took over as RBS chairman. Toscafund manages $4 billion in single-strategy hedge funds and a long-only equity fund launched last year.
Ross Smead joined hedge fund manager Halcyon Asset Management as managing principal to head a new unit investing in collateralized loan obligations, said Dorothy Crocker, a spokeswoman. He will develop a platform for CLO portfolio construction and management. Mr. Smead was managing director, portfolio manager and co-head of the U.S. bank loan unit at Prudential Investment Management. His duties were assumed by Timothy Aker, the unit's co-head, and Martha Tuttle, a portfolio manager, said Theresa Miller, a spokeswoman for Prudential. Prudential is searching for a portfolio manager to fill Ms. Tuttle's former position, Ms. Miller said.
Grant Fleming, a managing director at Wilshire Associates, is relocating to Tokyo to open a private markets research office for the firm, confirmed Kim Shepherd, spokeswoman. The office is scheduled to open on July 1. Mr. Fleming was based in Wilshire's Canberra, Australia, office. Bill Humphreys, director of Wilshire Australia, will replace Mr. Fleming.
Bruce Lavine was named president and chief operating officer of WisdomTree Investments, confirmed Justin Perras, a company spokesman. It is a new position. Mr. Lavine was head of new markets for BGI's iShares division, said BGI spokesman Lance Berg. Chris Sutton, chief executive officer of iShares Europe, is assuming Mr. Lavine's responsibilities until a replacement is found, Mr. Berg said.
Hugh Sergeant was named head of U.K. equities at River & Mercantile Asset Management, and Richard Staveley was named fund manager, confirmed James Barham, chief executive. Both positions are new. The two men are at Societe Generale Asset Management, where Mr. Sergeant was head of U.K. equities and Mr. Staveley was a fund manager. Mr. Staveley will be the first member of Mr. Sergeant's team, and additional fund managers likely will be recruited over the next nine months. Both Messrs. Sergeant and Staveley will start at River & Mercantile in August, Mr. Barham said. Societe Generale spokeswoman Valerie Siniamin-Finn was not available for comment at press time.
Mercer Borden and Brian Moss joined Optima Fund Group, a hedge fund-of-funds firm, as part of the expansion of the firm's U.S. institutional marketing team, said John Langler, managing director. Mr. Borden is managing director and head of consultant relations, and Mr. Moss is director of U.S. institutional sales. Mr. Borden was director of marketing, with responsibility for U.S. institutional sales and consultant relations for K2 Advisors. David Saunders, K2's chief executive officer and founding partner, said the sales and marketing team is being restructured and the firm will soon start recruiting to replace Mr. Borden and to add more marketing personnel. Mr. Moss was equity partner at RiskMetrics Group and responsible for sales to hedge funds in the New York region. He left in February and his duties were assumed by Ben Maldenado, who was responsible for sales of the firm's hedge fund platform, said John Roderick, a RiskMetrics' spokesman.
Stephen Timms, Britain's minister of state for pensions reform in the Department for Work and Pensions, was promoted to chief secretary to the treasury in Prime Minister Tony Blair's cabinet reshuffle, announced May 5 by Mr. Blair's office. Mr. Timms replaces Des Brown. Mr. Timms will report to Chancellor of the Exchequer Gordon Brown. A replacement has not been announced as of press time.
Mark Taylor was promoted to executive vice president, director of real estate, at McMorgan & Co., an affiliate of New York Life Investment Management, confirmed spokesman Neal McDonough. Mr. Taylor replaces David Howard; details on Mr. Howard's departure were not available, Mr. McDonough said. Mr. Taylor was executive vice president of sales and marketing. McMorgan officials are not planning to replace Mr. Taylor, Mr. McDonough said.
Richard Berger joined hedge fund-of-funds manager Pioneer Alternative Investments as head of research and due diligence. Mr. Berger replaces Alison Healy, who left last year. No further information was available about Ms. Healy. Mr. Berger was head of research at hedge fund and fund-of-funds manager Olympia Capital Management. Information on his replacement wasn't available at press time.
James Cahn was named senior vice president and director of institutional services at Marshall & Ilsley Trust, according to a news release. Mr. Cahn will work in the wealth management division and will oversee the unit's institutional retirement services and products. Mr. Cahn was senior vice president and director of retirement services at Smith Barney. Hank Green, spokesman for Smith Barney, said the firm does not comment on employee departures.
Tom Pittman was named chief marketing officer at defined contribution plan provider The Newport Group, said Lizz Holmes, spokeswoman. He will oversee sales of qualified retirement and deferred compensation plans. It is a new position. Mr. Pittman was vice president and head of sales at ADP Retirement Services. Debbie Morris, spokeswoman for ADP, did not return calls seeking information about Mr. Pittman's replacement.
Stacie Cowell was named senior equity portfolio manager at Rainier Investment Management. It is a new position, said Tony Denninger, spokesman. Ms. Cowell's primary focus will include the technology, consumer goods and health care sectors. She will report to Jim Margard, Rainier chief investment officer and director of equity management. Ms. Cowell was a lead portfolio manager and analyst for INVESCO Funds Group; spokesman Bill Hensel did not return a call seeking comment on a replacement. In addition, principals Mark Broughton, John O'Halloran and James Ridgeway were named internal shareholders of Rainier. Ron Alvares, director of mutual fund adviser services; Kyle Mylius, director of client service and consultant relations; and Steven Sundberg, director of mutual fund institutional services, were named principals. The firm now has 15 principals, 11 of whom are shareholders. Rainier's internal shareholders own common stock in the firm and principals share in the firm's profits.
David A. Russell joined hedge fund-of-funds manager Attalus Capital Investment as portfolio strategist. The position is new, according to a statement from the firm. Mr. Russell is a member of the investment committees that determine investment strategy and allocations for the company's funds, which have a combined $1 billion in assets under management. He also will oversee communication to the company's clients and investment consultants. Mr. Russell was a principal and primary consultant at Ennis Knupp + Associates, where his client relationships were reassigned to other consultants, said Harmony Watley, a spokeswoman. Ennis Knupp is not searching for a direct replacement, Ms. Watley added.
Robert Brooks was named senior vice president and national sales manager at PowerShares Capital Management, according to a news release. Mr. Brooks was principal and national sales manager for State Street Global Advisors. SSgA is conducting a search for his replacement, said Brian Willinsky, spokesman. Bill Conboy, PowerShares company spokesman, did not return calls by press time seeking further information.
Bob Thompson joined Union Bank of California as vice president to run business development in the Midwest, confirmed spokeswoman Katie Pandes. It is a new position. As senior business development officer and relationship manager, Mr. Thompson will focus on marketing custody services to Taft-Hartley plans. He will be based in Chicago. Mr. Thompson was senior vice president in the institutional trust unit at LaSalle Bank; spokesman Shawn M. Platt couldn't immediately provide information about a replacement.
Jerome Melcer was appointed senior consultant at actuary Lane Clark & Peacock, where he will advise corporate clients on managing pension risk. The position is new. Mr. Melcer was actuarial director at account BDO Stoy Hayward, where he was not replaced. His duties were assigned to a colleague, said company spokeswoman Samantha Dew.
Scott G. Abel, Matthew R. Clink and Nate Krogman were hired as consultants at Clark Strategic Advisors, confirmed President Tom Dodd. The three replace former consultant Tom Carrabine, who left in December to go into money management, Mr. Dodd said. The three formerly worked for Hewitt Investment Group. Mr. Abel was a senior investment consultant; Mr. Clink was an investment consultant and director of research; and Mr. Krogman was an investment consultant. Maurissa Kanter, a spokeswoman for Hewitt, declined to comment on the departures.
Bruce Dunn was named chief investment officer of the $14 billion Ohio Bureau of Workers Compensation, Columbus, said Emily Hicks, spokeswoman. Mr. Dunn replaces James McLean, who was terminated in September after it was discovered the fund lost about $214 million in a hedge fund investment through MDL Capital and $50 million on an investment in rare coins through coin dealer and political fund-raiser Tom Noe in 2004. Mr. Dunn was an independent investment manager.
David C. Beeman joined Citigroup Alternative Investments as chief operating officer of portable alpha strategies, said Dean S. Barr, director of liquid investments. It is a new position. Mr. Beeman, who reports to Mr. Barr, will create Citigroup's portable alpha strategies operating platform, Mr. Barr said in an internal memo. Mr. Beeman was chief operating officer at Thunder Bay Capital, a multistrategy hedge fund manager founded by Mr. Barr in 2003. Mr. Barr left to join CAI in November; he said Thunder Bay Capital is exiting the hedge fund business.
Marian Collins, London-based head of corporate governance at Barclays Global Investors, will leave the company at the end of May to pursue a lifestyle change, according to spokeswoman Esther Nass-Fetzmann. "She's not going to a new corporate job or anything like that," Ms. Nass-Fetzmann said. "She's going to do some traveling; she's taking a break." Ms. Collins, who joined BGI 14 years ago as an equity fund manager, has been working closely with Lindsay Tomlinson, BGI vice chairman in Europe; Mr. Tomlinson will take over her responsibilities until BGI appoints a replacement.
John Casano joined hedge fund-of-funds firm Torrey Associates as its first head of risk management, said James Torrey, chairman. Mr. Casano will enhance the firm's risk management process and also work on portfolio construction, Mr. Torrey said. Mr. Casano was an analyst in the hedge fund-of-funds division of Credit Suisse Asset Management. CSAM spokeswoman Victoria Harmon said she did not have information on Mr. Casano's replacement.
David Villa was named chief investment officer of the $83.1 billion State of Wisconsin Investment Board, Madison, according to Vicki Hearing, public information officer. Mr. Villa, who will take over the position June 5, will be responsible for managing all aspects of SWIB's investment program and report to David Mills, executive director. SWIB hasn't had an overall CIO since Michael McCowin retired in 1998. Since then, it has a group of asset-class CIOs, who will report to Mr. Villa, although their titles could be changed by the time he starts, Ms. Hearing said. Mr. Villa is currently CIO of the $153 billion Florida State Board of Administration, Tallahassee, which runs the state's $115 billion retirement fund. The system plans to fill the position internally, said Michael P. McCauley, director of investment services and communications. "We're not doing a search," Mr. McCauley said, adding fund officials have just started identifying internal candidates. No interim CIO has been named. Mr. Villa will stay on until at least late May to assist in the transition, Mr. McCauley said.
Dae Levy joined hedge fund manager Tribeca Global Management (Europe) as a portfolio manager, specializing in long-short financials. It is a new position. He reports to Gay Huey Evans, president of Tribeca's European office, said Olivia Baker, a spokeswoman. Mr. Levy was a portfolio manager at Gartmore Investment Management, where he managed the insurance company allocation of the AlphaGen Altai fund and co-managed the AlphaGen Rhocas fund. A Gartmore spokeswoman said Mr. Levy's duties have been assumed by others on the investment team. Gartmore's parent company, Nationwide Insurance, is seeking a buyer for the investment subsidiary.
Charlotte J. Walsh was named managing director of consultant relations at Allegiant Asset Management, a subsidiary of National City, confirmed spokeswoman Kelly Wagner Amen. Ms. Walsh is taking over for Rob Joseph, director of institutional sales, who will focus on expanding the firm's direct sales efforts while working closely with Ms. Walsh. Both Ms. Walsh and Mr. Joseph report to John Abunassar, president and chief executive officer. Allegiant has $26.4 billion in assets under management. Ms. Walsh was director of consultant relations at Oppenheimer Capital. She was replaced by Jeff Sheran, director of marketing. Mr. Sheran said the company is searching for a new marketing director.
Michael Anastasio Jr. will leave his position as chief financial officer of GAMCO Investors to join a New York-based hedge fund next month, said GAMCO President and COO Douglas Jamieson. John C. Ferrara was named interim CFO while company officials search for a permanent replacement. Further information was not immediately available. Mr. Ferrara, who is on the GAMCO board of directors, is currently the chief executive officer of Lynch Corp., a holding company for manufacturers M-tron Industries and Lynch Systems.
Dana Troxell was named president and chief executive officer of ForstmannLeff, replacing Richard Goldman, who resigned in November. Mr. Troxell had been director of strategy and corporate development at Angelo, Gordon & Co., which acquired ForstmannLeff.
David L. Donabedian was named chief investment officer at Ashbridge Investment Management, confirmed Jeffrey A. Hollowniczky, chief operating officer. It is a new position. Mr. Donabedian was chief economist at Atlantic Trust Private Wealth Management.
Duncan M. McFarland, retired chairman and chief executive officer of Wellington Management, was nominated to the board of directors of NYSE Group Inc., which operates the New York Stock Exchange, according the firm's proxy statement filed April 28 with the SEC. If elected, Mr. McFarland would replace Edgar S. Woolard Jr., who decided not to stand for re-election, according to the filing. The NYSE Group's annual meeting is scheduled for June 1. Directors of the company are elected annually.
John Thornton joined Pacific Community Ventures, a not-for-profit venture capital firm that invests in low-income areas of California, as managing director, a new position, said Todd Schafer, director of development and external relations. He was a principal with American Capital Strategies, a publicly traded buyout and mezzanine fund. Brian Maney, director, corporate communications for American Capital, could not be reached by press time for comment.
Benoit Durocher was named chief executive officer of Addenda Capital, effective Oct. 7, according to Nathalie Simard, vice president, marketing and communications. He will replace founder, CEO and CIO Carmand Normand, who will become executive chairman. Mr. Durocher is president and chief operating officer and will retain those positions. Yvan Fontaine is replacing Mr. Normand as chief investment officer, effective immediately. Mr. Fontaine was senior vice president, investments, and will continue to lead the team, Ms. Simard said.
David Gallagher was named head of North American institutional sales at Baring Asset Management, confirmed spokeswoman Gina Solomon. It is a new position. Mr. Gallagher will report to George Harvey, head of sales, business development and client service. Mr. Gallagher was vice president of client services and marketing at Chartwell Investment Partners. Michael McCloskey, Chartwell managing partner and director of client services and marketing, said the firm is searching for a replacement.
Sandra Yeager will join DuPont Capital Management on June 8 as a managing director and head of international equity and emerging market equities, according to an internal announcement by Donald J. Pepin, managing director, marketing and client services. Mr. Pepin couldn't immediately be reached for further comment. Ms. Yeager was a managing director, head of global research and a portfolio manager at Morgan Stanley Investment Management; she left the company in December 2005.
Tony Pedley was named managing director and head of European pensions client management at Bank of New York, confirmed Louise Willcox, spokeswoman. It is a new position. He will be based in London and report to Robert Darmanin, managing director, head of European custody and pensions. Mr. Pedley was operations director responsible for supporting private banks and institutional clients at SEI Investments Europe. Julie Allison, spokeswoman for SEI, said Mr. Pedley's position, now renamed head of global operations, was filled by Barry Johnston, formerly of State Street Corp. She did not have further details.
Craig Kaplan joined ARX Investment Management as director of investor relations, a new position. His focus is on client relationship management and marketing. ARX manages about $1 billion, primarily for institutional investors, in a global credit single-strategy hedge fund. Mr. Kaplan was a manager in the institutional client group in the New York office of hedge fund-of-funds manager Quellos Group. Jeff Greenstein, CEO of Quellos, did not return a call by press time seeking information about Mr. Kaplan's replacement.
Thomas E. Dial joined GSC Partners as vice president in its structured finance group, said Roland Tomforde, spokesman. It is a new position. Mr. Dial was a vice president of the collateralized debt obligation team at French bank Natexis Banques Populaires.