Gordon "Don" Mullis resigned as COO of the $1.4 billion Kentucky Retirement Systems, Frankfort, confirmed Brent Aldridge, portfolio manager of alternative assets. Mr. Mullis left the $14 billion system in April, a month before the unexpected departure of CIO John Krimmel earlier this month. Mr. Aldridge declined to comment on a reason for either departure and did not provide further details. Marlane Robinson, human resources director, was unavailable at press time to comment on the search for a replacement.
Alberta J. Pasciuti-Cummings was named assistant director of the $171 million Framingham (Mass.) Retirement System, confirmed Roberta Griffin, executive director. Ms. Griffin was assistant director before taking over her current position earlier this year from Barbara Glynn, who retired. Ms. Pasciuti-Cummings was an administrative assistant at the fund.
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.
Christopher Perriello joined Paul Capital Partners as a principal in the private equity firm's fund-of-funds group, selecting top-tier private equity firms and working on new offerings. It's a new position. Mr. Perriello was a principal with INVESCO Private Capital; he is the fourth executive to leave the firm this month. His duties will be assumed by other executives at INVESCO Private Capital, said Doug Kidd, managing director, communications and public affairs for INVESCO's parent company, AMVESCAP.
Earlier, Parag Saxena, Alessandro Piol and Howard Goldstein, former top executives with INVESCO Private Capital, left the firm and formed venture capital firm Vedanta Capital, according to a news release. John Evans, a general partner at INVESCO, replaced Mr. Saxena as head of INVESCO's direct private capital funds, said Doug Kidd, INVESCO spokesman. The duties of Messrs. Piol and Goldstein, both general partners, are being assumed by other members of the INVESCO Private Capital team, Mr. Kidd said.
Karen Parker Feld joined Harvard Management Co., the money management arm of Harvard University's $20 billion endowment fund, as head of foreign exchange portfolio management, according to a news release. It is a new position. Ms. Feld was director of foreign exchange assets at Wellington Management. Lisa Finkel, a Wellington spokeswoman, declined to comment on a possible replacement.
Michael E. Annin and Mark Kowalczyk brought a team of six others from Ibbotson Associates to staff a new asset allocation unit at Mesirow Financial. The team will develop proprietary asset allocation research and models, subadviser and fund selection, investment strategy and consulting services for other money managers, such as insurance, mutual fund, broker-dealer and bundled 401(k) plan service providers, said James C. Tyree, Mesirow chairman and CEO. Messrs. Annin and Kowalczyk are managing directors. Other members of the team are Christopher O'Neill, Scott Majeski and Brian Nash, vice presidents; Christopher Anast, senior consultant; Jonathan Dues, regional manager; and Janis Zvingelis, senior research consultant. At Ibbotson, Mr. Annin was managing director, investment management services; Mr. Kowalczyk was managing director, sales and marketing; Mr. O'Neill and Ms. Zvingelis were research consultants; Mr. Majeski was vice president, investment management services; Mr. Nash was regional manager; Mr. Anast was consultant; and Mr. Dues was account manager. Michael Henkel, president of Ibbotson, declined to say whether the eight will be directly replaced; four openings remain to be filled in the research and consulting areas.
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.
George H. Walker will not be immediately replaced as managing director and head of alternative investment strategies at Goldman Sachs. Peter Rose, a Goldman Sachs spokesman, said the company has not made a decision about Mr. Walker's position. Mr. Walker resigned May 17 to join Lehman Brothers as managing director, global head of the investment management division and a member of the executive committee. Mr. Rose noted that because all of the rest of Goldman Sachs' investment professionals will remain in place, there will be no disruption to management of the investment management businesses. Sources in the executive recruitment industry, who requested anonymity, said Goldman Sachs will probably not replace Mr. Walker because the alternatives businesses are well-staffed with competent business heads.
Mark Marinella was named executive vice president and global head of fixed-income research, sales and trading at State Street Corp., confirmed Brian Willinsky, spokesman. It is a new position. Mr. Marinella will lead a worldwide initiative to enhance State Street's fixed-income trading, research and analytics capabilities. He will report to Stan Shelton, executive vice president and head of State Street Global Markets, State Street's research and trading arm. Previously, Mr. Marinella was managing director and head of cash management at BlackRock; he was replaced by Paul Audet in October.
Voyageur Asset Management selected a four-person investment team to manage small-cap core, microcap value and midcap value equity strategies, confirmed spokeswoman Jonnell Ruskino. Lance James, senior portfolio manager, will lead the team, and will be joined by Stephen Kylander, senior portfolio manager. Both came from OFI Institutional Asset Management. George Prince, senior equity analyst; and Kristen Patrie, equity analyst and trader, joined Voyageur from Investors Bank & Trust and Eagle Asset Management, respectively. OFI has not yet determined whether it will conduct a search to replace Messrs. James and Kylander, said spokeswoman Jessica Greaney. The remaining senior members on the firm's small-cap value, small-cap relative value and microcap value strategies will assume the additional responsibilities and report directly to Chuck McKenzie, OFI's chairman and CEO.
Michael J. Barrett was promoted to managing director of Mesirow Financial's private equity group, said Katie Schimmel, spokeswoman. Mr. Barrett was senior vice president and will be replaced by Mary Kay Wik, who was promoted from vice president. Both executives will retain their previous responsibilities.
Robin Lough was appointed head of strategy and business development at Pioneer Global Asset Management. He will be based in Milan. It is a new position. Mr. Lough was managing director of equity capital markets at Dresdner Kleinwort Wasserstein in London. Representatives of DKW did not return calls by press time requesting information about Mr. Lough's replacement.
Eric N. Harthun and Joshua H. Brooks were named co-portfolio leaders of the $15.7 billion Putnam Fund for Growth and Income, said Nancy Fisher, Putnam spokeswoman. The two veterans replace Hugh H. Mullin, who will leave the firm after a transition period, according to a news release; Mr. Mullin's plans are not known. Christopher G. Miller, another portfolio manager on the team, will retire May 26, while David L. King, a portfolio member since 1992, will continue in his role. According to Morningstar data, the Growth and Income fund has trailed its large-cap value equity category by 0.7 percentage points in 2005, 2.3 percentage points in 2004, 1.4 points in 2003 and 1 point in 2002. Putnam expects Messrs. Harthun and Brooks to bolster the fund's performance, Ms. Fisher said. Mr. Harthun, a managing director, was a member of the small-cap and midcap value equity team and a portfolio member on the $851 million Putnam Small Cap Value Fund. His position on that small-cap fund, led by Edward T. Shadek, deputy head of investments, will be assumed by Michael C. Petro, a portfolio manager/analyst who is also portfolio leader on the $70 million Putnam Emerging Information Sciences Fund. Mr. Brooks, Putnam's deputy head of investments as well as CIO of large-cap equities, joined the Growth and Income fund's management team in August. Separately, Eric W. Roberts joined Putnam as a senior vice president and account manager, said spokeswoman Laura McNamara. He replaces Joe Carrabas, who left Putnam in March, she said. Mr. Roberts will focus on the firm's institutional business development in the Northeast region. Mr. Roberts was a principal, institutional sales, with State Street Global Advisors; spokeswoman Arlene Roberts said the firm is currently working to fill the position.
Karen McQuiston, senior vice president for long-duration bonds at JPMorgan Asset Management, left to join Goldman Sachs, confirmed Jacqueline Meere, spokeswoman at JPMorgan. She will be a vice president. JPMorgan is searching for Ms. McQuiston's replacement. Gia Morone, spokeswoman at Goldman Sachs, could not provide details on Ms. McQuiston's new post.
Anne B. Popkin was named managing director and head of Americas marketing and client service for Lehman Brothers' absolute-return strategies. The position is new, said Randall Whitestone, a spokesman. Ms. Popkin will oversee distribution of proprietary and third-party single-manager hedge funds, multistrategy hedge funds and hedge funds of funds. She will report to Jolyne Caruso, managing director and head of Lehman's global absolute return strategies unit, and Eric Johnson, managing director and global head of institutional asset management. Ms. Popkin was a director at Financial Risk Management, where she focused on client and consultant relationship management. FRM spokeswoman Kathleen M. Merrigan said Ms. Popkin will not be replaced; her duties have been assumed by other members of the client services team.
Shannon Lynne Perrin was named director of marketing at William D. Witter, confirmed Victor Ugolyn, president and CEO. The new position was created because the firm recently launched several institutional investment strategies, said Mr. Ugolyn. "She will be marketing our capabilities to the institutional marketplace, and this is our first concerted effort to target institutions," he added. Ms. Perrin was director of business development at EagleRock Capital. COO Jeff Radov said he will handle Ms. Perrin's responsibilities on an interim basis.
Ed Nowak was promoted to vice president and head of the institutional sales team for the large plan market at Principal Financial Group, said Terri Hale, spokeswoman. The new position was created because Principal is expanding its large retirement plan distribution strategy, targeting plans with $100 million or more in assets. Mr. Nowak was vice president of retirement and investor services distribution and will continue performing those duties.
Kristin Weisker was named head of relationship management at Polaris Capital Management, said spokeswoman Kelly Fitzsimmons. It is a new position. Ms. Weisker is coming on at a time of "tremendous growth in assets" for the firm, which was managing $1.8 billion in client money as of April 30, up from $1.2 billion at the end of 2005 and $485 million at the end of 2004, according to a news release. Ms. Weisker was a relationship manager at Fidelity Management Trust; Fidelity spokeswoman Erika Soto said there was no information on plans to fill the position.
Mark Phillips, senior vice president of strategy for BISYS Fund Services at Financial Research Corp., a subsidiary of the BISYS Group, will assume the duties of FRC founder and President Neil Bathon starting June 1, confirmed James Nolan, executive vice president of BISYS Fund Services. Mr. Phillips reports to Fred Naddaff, president of BISYS Fund Services. Mr. Bathon, FRC's president and founder, resigned early in May to pursue other entrepreneurial opportunities, according the release. FRC has a long-term consulting contract with Mr. Bathon "to ensure a smooth transition," according to the release. Mr. Phillips joined BISYS in January; he had been general manager of ADP Retirement Services. No further information was available. James Nolan, executive vice president of BISYS Fund Services, was not available for comment at press time.
Barry Friedson will join Arden Asset Management on June 1 as chief technology officer, replacing William McCrea, who left at the beginning of the year, said Jonathan Gasthalter, a spokesman. Mr. Friedson will report to Vikas Kapoor, executive director of risk management and technology at the hedge fund-of-funds manager. Mr. Friedson was a director within Deutsche Asset Management's absolute-return strategies technology group. Deutsche spokeswoman Mayora Hooper did not return a call seeking information about a replacement. Separately, Louis Rodriguez joined Arden as a director on the research team. The position is new, Mr. Gasthalter said. Mr. Rodriguez will focus on operational and infrastructure due diligence of hedge fund managers. He was a senior operations analyst at hedge fund-of-funds manager EIM Management (USA). Information about Mr. Rodriguez's replacement was not available.
Separately, Jennifer Goldsmith, a director in the client relationship unit of Arden Asset Management, left the firm, said spokesman Jonathan Gasthalter. Her duties were assumed by others in the department and she will not be replaced, he said.
Cynthia A. Glassman plans to leave the SEC after the completion of her current term as a commissioner, according to an SEC statement issued May 15. Her term ends June 5; she didn't specify a date for her departure. "Commissioners typically remain on the commission for up to 18 months beyond a term's completion if they are not replaced," the statement said. Ms. Glassman was named to the commission in 2002.
Richard A. Goldman joined executive search firm DAK Associates as managing director, confirmed spokeswoman Marji Hendler. It is a new position. Mr. Goldman was previously COO at ProFund Advisors, where spokesman Tucker Hewes was not able to provide additional information by press time.