Norman Milner joined hedge fund manager ARX Investment Management as portfolio manager and head of trading. The position is new, said Craig Kaplan, director. Mr. Milner was a portfolio manager covering emerging markets and credit at hedge fund manager Trident Investment Management. Nandu Narayanan, Trident's CIO and founder, did not return a call seeking information about Mr. Milner's replacement.
Derek Casteel was named director of institutional sales at CRAFund Advisors, according to David Downes, president and CEO. It is a new position. Mr. Casteel was director of marketing/consultant relations at Shay Assets Management. Vince Pierotti, AMF director of sales, and Anastasia Zivic, marketing associate, have taken over Mr. Casteel's responsibilities, according to Ms. Zivic.
Nicholas Scarles was promoted to group finance director at Grosvenor Fund Management, according to Judy Wisniewski, senior director for Grosvenor Investment Management U.S. Mr. Scarles replaces Jonathan Hagger, who was named chief financial officer of Grosvenor Trusts, which represents the shareholders' private and family interests. Robert Davis replaced Mr. Scarles as finance director, Ms Wisniewski said. Mr. Davis was COO, European operations, at GMAC Commercial Finance, where he has not been replaced, said GMAC spokeswoman Joanne Krell.
Teacher Retirement System of Texas, Austin, posted information about its CIO search on its website at www.trs.state.tx.us. More information is also available from Annette Dominguez, human resources director of the $100 billion system, at 512-542-6511. Inquiries or applications can be submitted to Clinton Browning, senior associate at Korn/Ferry International, at 404-572-6373 or via e-mail at [email protected].