Three former Putnam executives - Steven Spiegel, John Brown and Joe Craven - formed Aquiline Capital Management, according to people familiar with the new firm. Aquiline Capital is the Boston-based money management arm of Aquiline Holdings, a financial services company set up last year by Jeffrey Greenberg, former CEO of Marsh & McLennan Cos. Inc. Mr. Spiegel was Putnam's vice chairman through April 2004, then served as MMC's director of corporate development through January 2005; Mr. Brown resigned as Putnam's head of institutional management in June 2004; Mr. Craven left his position as head of Putnam's institutional retirement services at the end of 2004, when the money manager transferred that business to Mercer Human Resources Consulting. The firm will look to invest in and partner with new or emerging asset management firms.
Barry H. Evans was named president of MFC Global Investment Management (U.S.), said Beth McGoldrick, spokeswoman. He also is chief fixed-income officer and chief operating officer. Mr. Evans replaces Keith Hartstein as president; Mr. Hartstein continues as a director of MFC Global Investment Management (U.S.) and remains the CEO and president of the group's U.S. distribution arm, John Hancock Funds. In a telephone interview, Mr. Evans said his new title reflects the group's continuing effort to separate its investment business from distribution. Boston-based MFC Global Investment Management (U.S.) was formerly known as Sovereign Asset Management. The Oct. 1 name change was made by MFC Global Investment Management, the Toronto-based parent.
Donald Froude was named managing director and head of U.S. distribution at Legg Mason, confirmed spokeswoman Mary Athridge. Mr. Froude replaces Peter Cieszko, who was named Evergreen Investments' president of global distribution in June. Mr. Froude was president of intermediary distribution at Columbia Management. David Feldman, head of Columbia's financial institutions division, will assume Mr. Froude's intermediary distribution responsibilities on an interim basis, said spokeswoman Robyn Tice.