Rita Sallis was named CIO of the New York City Retirement Systems, overseeing the investment of the city's five pension plans, said Karen Crowe, spokeswoman for city Comptroller William C. Thompson Jr. Ms. Sallis has been interim CIO since Deborah Gallegos left in January. Ms. Sallis will retain her previous responsibilities as deputy comptroller for public finance. Ms. Sallis will oversee the $34.4 billion Employees' Retirement System, the $28.5 billion Teachers' Retirement System, the $16.6 billion Police Pension Fund, the $5.6 billion Fire Department Pension Fund and the $1.8 billion Board of Education Retirement System.
James Walsh was named CIO of Ithaca, N.Y.-based Cornell University's $5 billion endowment fund. He replaced Don Fehrs, who left the fund in January to join hedge fund of funds Evanston Capital Management. Mr. Walsh was director of alternative investments for Hermes Pensions Management, he said in a telephone interview. Mr. Walsh said it is too early to say what changes, if any, he will make to Cornell's asset allocation or money manager lineup. Hermes CEO Mark Anson couldn't be reached by for comment press time.
Suzanne Ross was named investment director of the London Pensions Fund Authority Pension Fund, London, effective Oct. 9, spokesman Ewan Denny said. It is a new position. Reporting to recently appointed CEO Mike Taylor, Ms. Ross will be responsible for advancing the investment strategy of the £3.3 billion ($6 billion) pension fund. She was formerly pensions investment manager for the IBM UK Ltd. Pension Plan, Portsmouth, England, which had £4.36 billion in assets as of Dec. 31. Information on Ms. Ross' replacement could not be obtained by press time, according to IBM UK spokeswoman Arlene Wainstein.
Thomas Toy was named manager-benefit plan investments, accounting and analytics for Chevron Corp., San Ramon, Calif., succeeding Bill Clutter, who was named accounting manager for Chevron International Exploration and Production. Mr. Toy had been manager of Chevron's forecast and reporting group. The company had $26.7 billion in retirement plan assets as of Sept. 30.
William Thielen was named COO for the $14 billion Kentucky Retirement Systems, Frankfort, confirmed Marlane Robinson, human resources director. He reports to Executive Director William Hanes. Mr. Thielen replaced Gordon "Don" Mullis, who resigned in April. Mr. Thielen had been policy development specialist for the Kentucky League of Cities.
Emmett Carson was named CEO and president of the newly formed Silicon Valley Community Foundation, Palo Alto, Calif., effective Nov. 1, according to a news release. The directors of the Peninsula Community Foundation, San Mateo, Calif., and the Community Foundation Silicon Valley, San Jose, Calif., tentatively decided in July to merge into the Silicon Valley Community Foundation, with a combined $1.5 billion in assets. Peter Hero, the current CEO of Community Foundation Silicon Valley, will remain a senior adviser. Vera Bennett has been interim CEO of the Peninsula Community Foundation since the end of 2005; she also serves as CFO. All staffing decisions for the merged foundation will be made by Mr. Carson, said Michelle McGurk, spokeswoman for the Community Foundation Silicon Valley. Mr. Carson has been CEO and president of the $650 million Minneapolis Foundation since 1994. The board will discuss his replacement at its Aug. 10 meeting, said Chris Langer, vice president of marketing and communications.
Bruce W. Van Saun, vice chairman and CFO at Bank of New York, relinquished his title as CFO and will assume responsibility for the company's asset management and private banking business, confirmed spokesman Kevin Heine. The new position will allow Bank of New York executives to focus more on both businesses, he said. Mr. Van Saun will continue to oversee the company's capital markets business and corporate development functions. Thomas Gibbons, senior vice president, will now add the title of CFO.
Raymond Tierney was named global head of equity trading at Morgan Stanley Investment Management, confirmed spokeswoman Andrea Slattery. It is a new position. Mr. Tierney will be responsible for managing equity trading teams and building out the existing trading platform. He will join MSIM in September, reporting to Dennis Shea, managing director, CIO and head of the global equity group. Mr. Tierney was a managing director and head of Morgan Stanley's North American cash sales trading.
Richard Aiello was named senior operating executive at private equity firm Welsh, Carson, Anderson & Stowe, according to spokesman Nathaniel Kates Garnick. The position is new. Mr. Aiello will be responsible for identifying business opportunities and trends and evaluating new investment opportunities. He starts in mid-August. Mr. Aiello was senior vice president for strategic investments at First Data Corp. Jody Soper, a spokeswoman for First Data, was not available by press time for comment.
James Syme was named head of global emerging equities at Baring Asset Management and Paul Wimborne was named global emerging markets portfolio manager, according to Michelle Ballington, a Baring spokeswoman. Both will join Baring in the fall. Mr. Syme was head of the emerging markets team at Societe Generale Asset Management. Juliette Lambert, a spokeswoman for SGAM, confirmed Mr. Syme's departure but could not say if a replacement had been named. Mr. Wimborne was a member of the global emerging markets team at Insight Investments, confirmed Insight spokeswoman Annie Dixon. She said the firm has not yet begun to search for Mr. Wimborne's replacement.
Michael S. Gross was named senior partner at hedge fund Magnetar Capital, co-chairman of the firm's investment committee and CIO of Magnetar's credit and private investment business. All three positions are new, said spokeswoman Ann Reed. He will be based in New York. Mr. Gross resigned in February as CEO and chairman of Apollo Investment Corp., the business development company affiliate of private equity manager Apollo Management. He also was a founder and senior partner of Apollo Management prior to moving to Apollo Investment in 1994, according to a company statement. Mr. Gross was replaced at Apollo Investment by Apollo Management co-founder John Hannan, according to the statement.
William Courson was named president of Lancaster Pollard Investment Advisory Group, according to a company news release. Mr. Courson joined the financial adviser to endowments and foundations to expand its business with non-profit institutions. Elizabeth DeForest, spokeswoman, did not return a call by press time seeking further details. Mr. Courson was senior vice president at Butler, Wicks & Co., a money management firm, where he led the firm's institutional markets group. Mike Paterchak, spokesman, could not be reached for information on Mr. Courson's replacement.
John Saf was named senior vice president and fixed-income portfolio manager at Oppenheimer Investment Management, according to a news release. He reports to Tom Robinson, president. Mr. Saf was vice president and a portfolio manager at 40/86 Advisors, managing the firm's asset-liability management business. Calls to Mr. Robinson and officials at 40/86 were not returned by press time.
Terry Coles was named alternate manager of global equities at F&C Asset Management, confirmed spokesman Sergei Cristo. Mr. Coles will help manage the ethical F&C Stewardship International fund, F&C Institutional Global Equity Fund, F&C Global Growth Fund as well as global equity funds for the continental European market. He will begin in September and will report to Sophie Horsfall, director of global equities and fund manager of the F&C Stewardship International Fund. F&C has about $220 billion in assets under management, of which $1.35 billion is in global equities. Mr. Coles was junior portfolio manager for global equity at Morgan Stanley. Andrea Slattery, Morgan Stanley spokeswoman, was unavailable at press time to comment on a replacement.
Philip Friedman, who resigned as senior vice president and CIO of BKF Asset Management, will join financial advisory and investment management firm Perella Weinberg Partners, confirmed Tim Metz, Perella Weinberg spokesman. Mr. Friedman will be an adviser for Perella Weinberg, which was officially formed last month by former Morgan Stanley Vice Chairman Joseph Perella and former Goldman Sachs Managing Director Peter Weinberg. Mr. Friedman was head of Morgan Stanley's North American sell-side research team and the head of institutional equity asset management until he joined BKF, then John H. Levin & Co., in 2002.
Charles Wall was named senior vice president, director of institutional business, Australia, for Putnam Investments in Sydney, said Laura McNamara, spokeswoman. The position is new. Mr. Wall will report to Jeffrey F. Peters, the head of Putnam's international business. Mr. Wall was investment director for Fidelity International. Michelle L'Huillier, a spokeswoman with Fidelity International in Sydney, wasn't immediately available to discuss whether Mr. Wall was being replaced.
Charles Neo was named senior managing director at Mercury Real Estate Advisors, overseeing the firm's Asian real estate investments, confirmed Kyle Hartley, spokesman. Mr. Neo will report to CEO David Jarvis. Mr. Neo was executive director and co-head of Asian real estate research at UBS. Eric Wong, former co-head of Asian real estate research, will assume full responsibility of the UBS Asian real estate team, said Julie Yeo, a UBS spokeswoman.
Barry Colvin was named vice chairman of Balyasny Asset Management, a new position, said Ann Taylor Reed, a company spokeswoman. He will focus on building up the multistrategy hedge fund's institutional capabilities, according to a company statement. Mr. Colvin was president and CIO of hedge fund-of-funds manager Tremont Capital Management until the end of last year. He was replaced by Rupert Allan.
Daniel J. O'Toole joined JPMorgan Retirement Plan Services as managing director and head of sponsor services, said Jacqueline Meere, spokeswoman. It is a new position. Mr. O'Toole will oversee all client service teams, including relationship management, conversion and service delivery. He was head of relationship management for the U.S. at Mercer Human Resource Services. Stephanie Poe, Mercer spokeswoman, did not return calls seeking comment on a replacement.
Christopher Ohmacht was named managing director and head of institutional sales and client services at Victory Capital Management, confirmed spokeswoman Donna McSorley. He replaced Charles von Breitenbach, who left the firm. Ms. McSorley could not provide details about Mr. von Breitenbach's departure. Mr. Ohmacht will continue to lead public fund marketing and client service for Victory's institutional business, Ms. McSorley added.
John Bender was named head of U.S. investment-grade bonds at Legal & General, a new position. He will oversee a new office in Chicago; L&G is considering distributing its mutual funds in the U.S., said spokesman John Morgan. Mr. Bender was head of investment grade bonds at Aegon Asset Management, and was replaced by Rick Perry, said Aegon spokesman Gary Latimer. No information was available on Mr. Perry's previous job.
Dale Nelson was named senior development director for real estate investment firm Grosvenor's East Coast and Midwest business, said Leslie Braunstein, spokeswoman. Mr. Nelson will be based in the Washington office. He replaces Christian Chambers, who left the firm last year to become vice president of development at BPG Properties Ltd., a real estate investment management firm. Mr. Nelson headed his own real estate construction firm, The Nelson Co., Reston, Va.
Renwick A. Paige was named managing director of Equifin Capital Partners, a private equity firm focused on the financial services industry, said Gwenn Daniels, spokeswoman. This is a new position. Mr. Paige was chief marketing development officer at the law firm of Preston Gates & Ellis.
Julie Bierman joined Apollo Real Estate Advisors as vice president in charge of marketing, fund-raising and investor relations, said Michelle Manoff, spokeswoman. It's a new position. Ms. Bierman was an associate on the alternative investment team at JPMorgan Private Bank. Mary Sedarat, JPMorgan spokeswoman, could not be reached by press time for details on Ms. Bierman's replacement.
Elaine Philis was named senior director of real estate investment manager Tishman Speyer's equity capital markets group, said Rick Matthews, spokesman. The position is new. She will raise third-party capital for domestic and international real estate funds and co-investment opportunities. Ms. Philis was director of marketing/finance for DRA Advisors. Paul McEvoy, senior managing director for DRA Advisors, could not be reached by press time for details on Ms. Philis' replacement.
Andy Malloy was named director of institutional exchange-traded fund sales at WisdomTree Investments, a new position, said Heter Myers, a company spokesman. Mr. Malloy was senior managing director and global head of absolute return strategies at Pali Asset Management. Information on a replacement was not available by press time.
Bill O'Grady was named senior vice president of distribution at MassMutual Retirement Services, said Mark Cybulski, spokesman. Mr. O'Grady was executive vice president and head of distribution and sales at Pioneer Investments. Kevin Rowell replaced Mr. O'Grady, said Tara Pescatore, spokeswoman for Pioneer. No information was available on Mr. Rowell's previous duties.
Jeff Keller and Mark Strazzeri were named managing directors of sales for the adviser and consultant channel at NYLIM Retirement Plan Services, said Sarah Lazarus, spokeswoman. Messrs. Keller and Strazzeri were sales directors at NYLIM Retirement. They will not be replaced, Ms. Lazarus said.
Joanne Segars was named CEO of the National Association of Pension Funds, London, said spokeswoman Jane Dawson. Ms. Segars replaced Christine Farnish, who will leave Oct. 2 to become public policy director at Barclays PLC. Ms. Segars has been NAPF's director of policy since April 2005, and previously was head of pensions and savings at the Association of British Insurers. The NAPF, with membership of 1,300 pension funds with assets totaling about £800 billion ($1.5 trillion), is in the early stages of finding a replacement for Ms. Segars, Ms. Dawson said. Ms. Farnish replaced Mike Davis, who is retiring, Barclays' spokeswoman Laura Vergani said.
Stewart D. Lawrence was promoted to senior vice president and national retirement practice leader at The Segal Co., said Mary Feldman, spokeswoman. He replaced Alex Sussman who retired July 1. Mr. Lawrence was senior vice president and head of Segal's corporate practice, and a member of the company's board of directors. He will retain those responsibilities.
Oscar Pesch, manager of institutional investor services at Russell Investment Group, Amsterdam, left the company last month to start his own business, said Russell spokeswoman Sarah Culpeper. No further information was available, and Mr. Pesch could not be reached for comment. Managing Director Johan Cras took on Mr. Pesch's responsibilities with institutional clients while Russell searches for a replacement, Ms. Culpeper said.
Lois Towers was named managing director of the business risk management and compliance practice at The McHenry Group, effective in mid-November. This is a new position, said Ward Harris, CEO at The McHenry Group. Ms. Towers will manage regulatory issues related to PlanTools, a McHenry subsidiary that provides investment and advisory services to brokers, banks and other financial institutions, according to a news release. Ms. Towers had been head of the U.S. compliance group at Barclays Global Investors since 1999. Terry Watson, global head of risk and compliance at BGI, is managing the search for a replacement. BGI also retained executive recruiting firm Heidrick & Struggles to assist. Ms. Towers will remain until Nov. 15 to help in the transition, confirmed Lance Berg, BGI spokesman. Ms. Towers did not respond to phone calls by press time.
Barry McInerney was named director of client service at Russell Investment Group, said Jennifer Tice, Russell spokeswoman. He replaces Craig Rawlins, who left to pursue other opportunities, Ms. Tice said. Mr. McInerney will be based in Russell's New York City office and lead a 37-person team responsible for Russell's U.S. institutional clients. Mr. McInerney was U.S. president of Mercer Global Investments. Phil de Cristo, global president, and Ken Crotty, MGI's global COO, are supervising the U.S. unit while a search continues for Mr. McInerney's replacement, according to an e-mail from Stephanie Poe, Mercer spokeswoman. No details on the search were immediately available, she added.
Alex Camet was named institutional sales representative at Duncan-Hurst Capital Management, according to a news release. He will coordinate all consultant communications and marketing efforts to corporations, foundations, endowments and public funds, Mr. Camet said in a telephone interview. Mr. Camet replaces Frank Hurst, who retired in December. Mr. Camet would not discuss his previous job.
Philip Glaze was named global head of manager research for HSBC Investments' multimanager division, a new position, effective Sept. 13, according to Charles Clarke, spokesman. Mr. Glaze will report to Joanna Munro, global CIO. Mr. Glaze is director of research for Europe at Russell Investment Group, said Robert Barr, Russell's managing director of marketing and communications. It hasn't been decided if Mr. Glaze will be replaced, Mr. Barr said. Andrew Harradine and Graeme Allan, senior research analysts, will assume Mr. Glaze's responsibilities in the interim, and James Duberly, director of European equities, will continue to lead the European team. HSBC's hiring of Mr. Glaze is part of the firm's strategy "to become a global leader" in the manager-of-managers field, Ms Munro said in a telephone interview. HSBC's multimanager business had about $13 billion in assets under management as of March 31.
Richard H. Macy was named chief operating officer of the PBGC. He replaces Joseph H. Grant, who stepped down last year to become director of employee plan rulings and agreements for the Internal Revenue Service's tax exempt and government entities division. Mr. Macy was vice president, support services, for ADP Inc.'s COBRA/FSA Services, where he oversaw automation initiatives and performed profitability studies, according to a PBGC news release.