Steve Niemczyk will join UBS in July as head of asset management coverage in the financial institutions group, according to UBS spokeswoman Tatjana Domke. It is a new position. Mr. Niemczyk, who will be based in London, will report to Oliver Sarkozy and John Cryan, joint global heads of financial institutions. Mr. Niemczyk was an investment banker at Morgan Stanley, where he advised on such prominent asset management M&A transactions as BlackRock's purchase of State Street Research & Management in 2004 and Legg Mason's acquisition of The Permal Group in 2005. Morgan Stanley spokesman Mark Lake said it hasn't been decided whether he will be replaced.
Simon Kempton was named managing director, global business manager for liquid alternative investments and chief administrative officer for Europe at Citigroup Alternative Investments, confirmed spokesman Jon M. Diat. It is a new position. Mr. Kempton was COO for the U.K. business at Deutsche Asset Management. Calls to Deutsche representatives were not returned for comment. Aberdeen Asset Management acquired Deutsche Asset's London-based operation last year.
Christopher DeMeo was named senior strategist, asset liability, for Russell Investment Group's U.S. Institutional Investor Services, confirmed spokeswoman Jennifer Tice. Mr. DeMeo, who started May 15 and is based in New York, is responsible for research and strategy for asset allocation, asset-liability and investment strategies, focusing primarily on pension plans. It is a new position. Mr. DeMeo reports to Michael Hall, director, asset-liability strategy, for Russell's institutional group. Russell managed $167 billion in assets as of March 31. Mr. DeMeo was director of retirement capital solutions at Merrill Lynch Retirement Group; spokeswoman Megan Frank was not available for comment at press time.
Peter Chiappinelli will join Fidelity Trust Co., the tax-exempt money management unit of Fidelity Investments, as senior vice president of strategic services, a new position. Mr. Chiappinelli said he will be joining Fidelity in mid-June. He will work indirectly with Jeffrey B. Saef, who joined Fidelity's Pyramis Global Advisors unit as senior vice president and head of new product development last summer. Mr. Chiappinelli was senior vice president at Putnam Investments and head of its strategic relationship team, the same job Mr. Saef held before joining Pyramis. Putnam spokeswoman Laura McNamara said Amy Walls, a senior investment specialist who has been with the firm since 2001, will replace Mr. Chiappinelli.