Neil Devlin was named senior vice president, portfolio manager and research analyst for the Templeton global equity group at Templeton Investment Counsel, an affiliate of Franklin Templeton Institutional. It is a new position, said Bill Weeks, spokesman. Mr. Devlin will manage institutional equity portfolios and assume research of North American banks and small-cap cyclical stocks, as well as country coverage for Spain and Portugal. Mr. Devlin had been Templeton CIO for fixed income between 1994 and 1999, when he left the firm. Most recently, Mr. Devlin was a portfolio manager on institutional accounts in the U.S., Canada and Japan at Boston Partners, where he was part of the firm's large-cap value portfolio management team. His responsibilities will be assumed by Mark Donovan, managing director and chairman of the equity strategy committee, and David Pyle, managing director, said Alan Towers, Robeco company spokesman.
Georganne C. Proctor was named executive vice president and CFO at TIAA-CREF, confirmed Stephanie Cohen Glass, spokeswoman. Ms. Proctor replaced Russell Noles, who was acting CFO since Elizabeth A. Monrad was granted an unpaid leave of absence in May 2005; she officially resigned in November. Mr. Noles will resume his previous responsibilities as senior vice president and head of internal audit. Ms. Proctor was executive vice president of finance for Golden West Financial, which is being acquired by Wachovia Corp. William C. Nunan, Golden West spokesman, was not immediately available for comment.
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.
Peter Roth was named CEO of KBW Asset Management June 5, confirmed spokesman Tyler Bradford. Mr. Roth replaced Michael O'Brien as CEO. Mr. Roth will concentrate on building the firm's overall asset management business, while Mr. O'Brien, who has also managed several funds and separate account strategies, will continue as a portfolio manager at KBW. Mr. Roth was a managing director in KBW's insurance investment banking practice. Details on how he will be replaced were not immediately available.
Norman Milner joined hedge fund manager ARX Investment Management as portfolio manager and head of trading. The position is new. Mr. Milner was a portfolio manager covering emerging markets and credit at hedge fund manager Trident Investment Management. No information about Mr. Milner's replacement could be learned.
Abdallah Nauphal was named deputy chief executive of Insight Investment Management, according to spokeswoman Claire Tappenden. It is a new position. Mr. Nauphal, who will remain chief investment officer, will also assume strategic business planning responsibilities.
Jose A. Torres joined private equity firm Energy Investors Funds as senior vice president, said Alex J. Stockham, spokesman. It is a new position. Mr. Torres was vice president and head of the structured finance group at CoBank, a $34 billion agricultural credit bank.
Michael R. Lynch joined GSC Partners as a senior managing director, a new position. He was a member of GSC's board of advisers but will remain chairman of GSC's strategic initiatives committee and a member of the firm's Credit Strategies and European Mezzanine funds' investment committees. Before joining GSC's advisory board in March 2005, Mr. Lynch was a partner and senior managing director at investment bank Goldman Sachs.
Todd Telesz joined Three Peaks Capital Management as an analyst, said Mary Cooper, COO. The position is new, she said. Mr. Telesz was a principal at Galena Capital; company officials will search for a replacement, said Scott Lavie, director.
Barton Buxbaum was named senior vice president and product manager at TimesSquare Capital Management. Mr. Buxbaum's responsibilities include client servicing and portfolio and attribution analysis, according to a news release. TimesSquare has $8 billion in assets under management. Stephen Green, managing director and founding partner, was not available by press time to provide further details. Mr. Buxbaum was chairman and CEO at W.P. Stewart Asset Management. Fred Busk, W.P. Stewart's managing director of global marketing, was not available by press time for comment.
W.W. Boisture Jr. joined the Carlyle Group as a senior adviser to the aerospace and defense team, said Michelle Ong, spokeswoman. It is a new position. Mr. Boisture was president of NetJets, an aviation firm. He has been replaced by Bill Noe.
Paul Elia was hired as an analyst for the small-cap value group of Chartwell Investment Partners, confirmed Timothy Riddle, managing partner and CEO. It is a new position, and Mr. Elia reports to Dave Dalrymble, managing partner. Chartwell has $6 billion in assets under management. Mr. Elia was an associate research analyst at Federated Investors. Sandy Captain, senior administrative assistant at Federated Investors, could not provide any other details about Mr. Elia's former position.
Eila M. Matt was named managing director at Henderson Global Investors, marketing the firm's hedge funds to North American clients. She will be based in New York. Ms. Matt was managing director at Ritchie Capital Management, responsible for marketing and client servicing. Officials at Ritchie Capital could not be reached by press time for information on Ms. Matt's replacement. Henderson manages $620 million in hedge funds for U.S. clients, said spokesman Richard Acworth.
Ron Zibelli was named vice president and portfolio manager of the Oppenheimer Discovery Fund, confirmed Jessica Greaney, spokeswoman for OppenheimerFunds. Mr. Zibelli will take over as lead manager of the small-cap fund, which has $840 million in assets under management, from portfolio managers John O'Hare and Rob Corbett, who had managed the fund on an interim basis after Laura Granger left the firm in March to join Credit Suisse as managing director and head of small-cap growth equities. Messrs. O'Hare and Corbett will continue to serve as the lead managers on the Oppenheimer Mid-Cap Fund and Oppenheimer Emerging Growth Fund, respectively. Mr. Zibelli was most recently the managing director and leader of the small-cap growth team at Merrill Lynch Investment Managers, where he oversaw $1.3 billion in assets. BlackRock, which agreed to acquire MLIM in February, will now assume responsibility for MLIM's small-cap growth teams, said MLIM spokeswoman Megan Frank. Eileen Leary and Neil Wagner, managing directors and co-heads of the small-cap and midcap growth teams at BlackRock, will now lead the MLIM strategies.
Kevin Walsh was named director of commercial mortgage-backed securities investments at J.E. Robert Cos. Also, Bev Casanova was hired as vice president in the special servicing group, and Jo Rathbun was named vice president of fund investment management, said David B. Sturtevant, spokesman. All are new positions for the real estate investment company. Mr. Walsh was a senior underwriter in the firm's commercial mortgage large loan group; Mr. Casanova was director of administrative agent service for the Bank of New York; and Ms. Rathbun was asset management-vice president for Jamestown, a German-backed real estate investment firm. In addition, Devin Chen was promoted to vice president of fund investment management; he was an associate.
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.
Russell O'Brien was named director of alternative investments for the East Coast at Russell Investment Group. The sales position was created in response to increasing demand for alternative investment products from Russell's outsourcing platform, such as private equity, hedge funds and real estate, said Jennifer Tice, Russell spokeswoman. Mr. O'Brien was director and head of sales and marketing for Credit Suisse Asset Management's transition management business. Credit Suisse spokeswoman Mary Claire Delaney declined to comment.
Richard Owen was appointed head of institutional sales for U.K. and Ireland at State Street Global Advisors in London. It is a new position, said SSgA spokeswoman Sally Todd. Mr. Owen was director of business development at Citigroup Asset Management, which was restructured after it was bought by Legg Mason late last year.
Sal F. Albanese, was promoted to managing director of Mesirow Financial's institutional sales and marketing group, confirmed Katie Schimmel, spokeswoman. Mr. Albanese, who was senior vice president, will continue to develop the firm's East Coast institutional relationships.
Gareth Davies was appointed director of Merrill Lynch Investment Managers' U.K. relationship management team, starting July 3. It is a new position, according to a Merrill Lynch spokeswoman. Mr. Davies was head of client relationship management at Henderson Global Investors. He left the firm May 26 and will be replaced, said Henderson spokesman Richard Acworth.
John West joined Research Affiliates as a vice president on June 5, said David Hennessey, vice president of marketing. It is a new position, created to expand marketing efforts for Research Affiliates' Fundamental index strategies, he said. In addition, Mr. Hennessey is looking for a vice president who will be based on the East Coast. Mr. West was a vice president and senior consultant at Wurts & Associates. Anne Westreich, who joined Wurts in mid-April as a consultant after being a portfolio manager and analyst at Provident Investment Counsel, will take on most of Mr. West's client relationships, said Jeffrey MacLean, Wurts president and CEO. The remainder of Mr. West's responsibilities will be picked up by Mr. MacLean; Shelly Heier, consultant and director of research; and Scott Whalen, executive vice president and senior consultant.
James Klingler was named vice president and manager of business development at Gallatin Asset Management, said Thomas O'Donnell, CEO and president. Mr. Klingler will introduce Gallatin's investment strategies to institutional investors, a new role at the firm. Gallatin was launched in October 2005 by A.G. Edwards and has since mostly managed assets for the brokerage firm. Mr. Klingler was a senior vice president and general counsel at Eclipse Capital Management. Heather Socha, vice president at Eclipse, said the firm does not have immediate plans to replace Mr. Klingler.
Douglas Hilfiker was named vice president in the client services, sales and marketing group at Clover Capital Management, confirmed Jennifer Dolatowski, marketing coordinator. It is a new position, said Ms. Dolatowski, adding that the firm is expanding its external sales efforts. Mr. Hilfiker was an attorney with law firm Harter, Secrest & Emery.
Yakoub Yakoubov joined Watson Wyatt as a London-based senior consultant specializing in asset-liability modeling, according to a news release. It is a new position. He will report to Mark Beardall, global head of investment systems. Mr. Yakoubov was head of investment modeling at Aon Consulting, where he had worked since 1998. Aon Consulting spokeswoman Nessa Kearney could not be reached by press time for information about Mr. Yakoubov's replacement.
Ron Klotter was hired as principal and senior consultant for Ellwood Associates, confirmed CEO Russ Hill. It is a new position. Mr. Klotter was institutional marketing director at INVESCO. Jennifer Lloyd, a spokeswoman for INVESCO, was not available for comment at press time.
Andrew Vollmer was named deputy general counsel of the SEC, according to a news release. He replaces Meyer Eisenberg, who retired in January. Mr. Vollmer is a partner in the law firm Wilmer Cutler Pickering Hale and Dorr, where he is vice chairman of the securities department.
Separately, Susan Wyderko, director of the SEC's office of investor education and assistance, is leaving the agency at the end of this month to join the Mutual Fund Directors Forum as executive director, said John Heine, an SEC spokesman. It's a new position. MFDF is an independent non-profit group focusing on mutual fund governance. SEC officials have not yet been decided who will replace Ms. Wyderko, Mr. Heine said.
R. Todd Gardenhire and Nelson W. Wolff have been appointed by President George W. Bush as members of the PBGC's advisory committee, confirmed PBGC spokesman Jeffrey Speicher. The appointments were first reported Tuesday afternoon on Pensions & Investments' website, pionline.com. Mr. Gardenhire, a senior vice president with the Smith Barney division of Citigroup Global Markets Inc., will represent the interests of employers. He will serve through 2007, filling the remainder of a three-year term vacated by West Virginia Secretary of State Betty Ireland, who resigned last year. Mr. Wolff is a judge and presiding officer of the Commissioners Court, the managing and governing body of Bexar County, Texas; he will represent the interests of the general public. He replaces William Batoff, a consultant and lobbyist, and will serve a three-year term expiring in 2009. The seven-member committee advises on investment policies and procedures, the trusteeship of terminated plans and other matters outlined by ERISA. Its next meeting is in July.
Zvi Bodie was named a professor of finance in the School of Management at Boston University; he will be the first Norman and Adele Barron Professor of Management. Mr. Bodie, a well-known finance academic, joined Boston University in 1972.
