Steven Schoenfeld was named CIO of the global quantitative management unit at Northern Trust Global Investments
. It is a new position, said John O'Connell, a Northern Trust spokesman. Mr. Schoenfeld will assume responsibility for investment performance across Northern Trust's index, enhanced and quantitative active strategies, which had $214 billion in assets as of June 30. Previously, Mr. Schoenfeld was chief investment strategist, a role that has been incorporated into his new position, Mr. O'Connell said. Additionally, James Upton was named senior investment strategist in the global quantitative management group, focusing on international equities and fixed income in both developed and emerging markets. He replaces Robert Ginis, who will continue to work in the global quantitative management group on a consulting basis, Mr. O'Connell said; he had no additional information. Mr. Upton was a global equity strategist at Credit Suisse. Northern Trust's global quantitative management group will hire more strategists in the U.K. and U.S. in the coming months, Mr. O'Connell added.
Thomas K. Lee was hired as deputy executive director of the $90 billion New York State Teachers' Retirement System, Albany, effective Sept. 6, according to a news release. It is a new position. Mr. Lee will help oversee the plan's investments and the administration of benefits. He is currently the executive director of the $35 billion Maryland State Retirement & Pension System, Baltimore. Anne Budowski, a spokeswoman for the Maryland plan, said the board will meet next week to decide who will act as interim executive director, as well as to plan a search for a replacement.
Updated with correction