Gary Sullivan , a New York-based director of Deutsche Asset...

Gary Sullivan, a New York-based director of Deutsche Asset Management, will become lead portfolio manager of three dedicated high-yield funds with a combined $3 billion in assets under management: DWS High Income Trust, DWS High Income Plus and DWS High Income Capital DIP. He will also join the management teams of the $200 million DWS Multi Market Income Trust fund and the $49 million DWS Strategic Income Trust fund. He replaces Philadelphia-based portfolio manager Andrew P. Cestone, who is leaving the firm. DeAM spokeswoman Mayura Hooper declined to comment on Mr. Cestone's plans. Ms. Hooper said Deutsche Asset Management is consolidating its below-investment-grade fixed-income operation - including high-yield bonds, bank loans and emerging market debt - in New York. Some of the firm's private wealth management operations will remain in Philadelphia. DeAM is determining whether others in the Philadelphia office are interested in moving to New York. Mr. Sullivan was the head of DeAM's high-yield group in Frankfurt before transferring to New York late last year. Details on Mr. Sullivan's current responsibilities were not immediately available.

Alan Whalley, the former U.S. regional manager for Watson Wyatt Worldwide in Washington, will join Mercer Human Resource Consulting as U.K. chief executive and market leader, based in London. He replaces Simon O'Regan, who was promoted to head of the Europe and Asia-Pacific regions. It is a new position. "Given his reputation, industry experience and background, Alan will bring to the role a solid understanding of the U.K. market," Mr. O'Regan said in an e-mail response. "Mercer will also benefit from his personal connections with major clients, and his past successes in driving business growth." Mr. Whalley left Watson Wyatt in December 2005 and was replaced by Kevin Meehan in January 2006, Watson Wyatt spokeswoman Claire Barraclough said. Mr. Meehan was promoted from managing consultant for Watson Wyatt's Washington office.

Glenn Lesko was named head of U.S.-based international sales and trading for agency broker Instinet, confirmed spokesman Mark Dowd. It is a new position. Mr. Lesko, who started this week, will oversee all sales and trading efforts for the New York-based international trading desk and will work closely with the company's agency trading desks in Asia and Europe. Mr. Lesko's hiring reflects increased client demand for access to international markets, Mr. Dowd said. A 16-year trading veteran, Mr. Lesko was a partner in CF Global Trading, and before that, he was a managing director at Deutsche Bank, leading the firm's international trading desk.

Mary Genet was named senior vice president of national institutional sales at Phoenix Investment Partners, confirmed Joe Fazzino, Phoenix spokesman. Ms. Genet was a vice president at Harris Bank, where she was in charge of institutional sales for Harris Insight Funds. In June, Phoenix and Harris formed a strategic partnership in which Phoenix Investments adopted the funds, which had $10.7 billion at the time. They were renamed the Phoenix Insight Funds, and Harris Investment Management is the subadviser.

Gregg Rademacher was named CEO of the $34 billion Los Angeles County Employees Retirement Association, Pasadena, Calif., said Robert Proctor, director of human resources. Mr. Rademacher replaces Marsha D. Richter, who will retire in October. Mr. Rademacher has been assistant executive officer since July 1996. Fund officials are searching for his replacement, Ms. Richter said. Heidrick & Struggles assisted.