Theodore H. Eliopoulos was named senior investment officer for CalPERS' $16 billion real estate portfolio, according to a news release. He replaces Michael McCook, who left the $224.2 billion California Public Employees' Retirement System, Sacramento, in April to become president of Kenwood Investments. Mr. Eliopoulos, currently chief deputy state treasurer, will monitor the system's $9 billion in office, retail, industrial and apartment real estate properties, and $7 billion in housing, timber, international and REIT investments. He will also oversee the system's internal real estate staff and external advisers.
Vera Bennett was named chief financial officer of the Silicon Valley Community Foundation, Palo Alto, Calif., which starts Jan. 2 with $1.5 billion in assets, according to a news release. The foundation is being created through the merger of Peninsula Community Foundation and Community Foundation Silicon Valley. Ms. Bennett will oversee three departments: finance, investments and grants and administration. She is now CFO and interim CEO of the Peninsula Community Foundation.
Kentucky Retirement Systems, Frankfort, has undertaken a new search for a chief investment officer, according to its website. The deadline is Dec. 1. Officials of the $14 billion pension plan began searching for a CIO in the spring to replace John Krimmel, who resigned May 10. The initial search, scheduled to close at the end of May, later extended to July 1. William Hanes, executive director, was not available for comment. Information is available at www.kyret.com/employment/jobpostings/job6023.htm.
Daniel Pedrotty was named director of the AFL-CIO Office of Investment. He replaced Damon A. Silvers, who became acting director after William Patterson left last year to join CtW Investment Group as executive director, said Chris Huang, researcher, in an interview. Mr. Silvers remains associate general counsel with the AFL-CIO. Mr. Pedrotty was an attorney in the office, which promotes retirement security and corporate governance activity by encouraging corporate accountability, responsible CEO pay and shareholder rights, Mr. Pedrotty said in an interview. Union-sponsored plans have more than $400 billion in combined assets, he noted.
Charles Beazley was named president of Nikko Asset Management Europe, confirmed Michael Mulholland, spokesman. Mr. Beazley replaces Stuart Kinnersley, who remains CIO. Mr. Beazley was head of alternative investments for Gartmore Investment Management. His position was eliminated in May when Gartmore was acquired by private equity firm Hellman & Friedman and Gartmore executives.
Allan Karp, co-chief executive officer of private equity firm Apax Partners, and Chris Reilly, partner, will leave the firm in six to 12 months, said Laura Brightsen, spokeswoman. Both will retain their seats on the company's board. John F. Megrue Jr., co-CEO, will become the sole CEO. Mr. Reilly will not be replaced; his duties will be assumed by other executives at the firm. Separately, Mitch Truwit joined the firm as partner; he was CEO of Orbitz. Also, partners Nico Hansen and Christian Stahl are moving from the firm's European offices to its New York headquarters. Further information was not available.
Bernd Scherer joined Morgan Stanley Investment Management as global head of quantitative structured products, said spokesman Hugh Fraser. He will be based in London. Mr. Scherer will report to Justin Simpson, the firm's global head of all structured products. Mr. Scherer was the New York-based head of the research center and portfolio engineering for Deutsche Asset Management. Mayura Hooper, a DeAM spokeswoman, did not return calls by press time for information on a replacement.
Scott Grimberg was named managing director and head of global fixed income and emerging markets at BNY Asset Management, and Ronald Lagnado, managing director and head of fixed-income quantitative strategies. Messrs. Grimberg and Lagnado, who were both senior portfolio managers at Nuveen Investments, joined BNY Asset Management to expand the firms' overall fixed-income and currency investment strategies, Mr. Grimberg said in an interview. They will oversee two new strategies — global fixed income and global portable alpha — designed for institutional investors and private clients. Both strategies will use a combined fundamental and quantitative investment approach, said Mr. Grimberg. Messrs. Grimberg and Lagnado co-managed several funds at Nuveen, including the firm's Global Income and Currency Fund. Chris Allen, spokesman at Nuveen, did not return a call seeking details on their replacements.
Scott B. Richards joined State Street Global Advisors as senior high-yield portfolio manager in the firm's global fixed-income group, said spokeswoman Arleen Roberts. It is a new position. He will be responsible for overseeing management of SSgA's high-yield assets and "advancing the firm's global active credit capabilities," as well as developing new products such as collateralized loan obligations, according to a news release. Previously, Mr. Richards was a high-yield portfolio manager with MFS Investment Management and was co-portfolio manager —with John Addeo — of the $1.2 billion MFS High Income Fund and the $700 million MFS High Yield Opportunities Fund. MFS spokesman David Oliveri said David P. Cole, who joined MFS as an analyst in 2004, was named co-portfolio manager of those funds.
David M. Goss was named a senior principal of Essex Investment Management. In a news release, Essex CEO Chris McConnell cited the success Mr. Goss has had as a senior portfolio manager in building up the firm's large-cap growth equity business since joining Essex from Alliance Capital Management in 2004.
Jack Lin was named managing director for Franklin Templeton's Asia operations, confirmed spokesman Bill Weeks. It is a new position. Mr. Lin, who has been the CEO of Franklin Templeton Sealand, Franklin's Chinese joint venture fund company, will now move to the institutional business and report to William Yun, president of Franklin Templeton Institutional. Mr. Lin will be based in Hong Kong. Michael Lin, no relation, will replace Jack Lin as the CEO of Franklin Templeton Sealand, confirmed Mr. Weeks.
David M. Edwards was named senior vice president-client experience at TIAA-CREF, and Sara Lipson, chief customer sciences officer.
Mr. Edwards' position is new, and he will report to Herbert M. Allison Jr., chairman, president and CEO. Mr. Edwards will "lead development of a framework which captures a holistic view of clients' relationships with the company and incorporates those elements into business design, product and service development and operational decision-making," according to a company release. Mr. Edwards will also "oversee the organization's measurement and analysis of customer behavior, trends and factors that account for client loyalty and satisfaction." He was senior vice president-customer acquisition and relationship management for global financial services at American Express.
Ms. Lipson, who reports to Mr. Edwards, will oversee TIAA-CREF's customer insight and business intelligence activities, developing "a research strategy that assures our ability to weave a more informed view of our clients into everyday decision-making," the release said. Ms. Lipson replaces Seema Luthra, who left the company to pursue interests outside the industry, said Chad Peterson, TIAA-CREF spokesman. Ms. Lipson was senior vice president, corporate marketing officer at Henry Schein Inc., a company that distributes dental, medical and veterinary products.
Nicholas T. Stanojev joined State Street Global Advisors as director of U.S. public fund sales, according to spokesman Brian Willinsky. It is a new position. Mr. Stanojev will report to Gerard Kelly, senior managing director and head of U.S. institutional sales. In a telephone interview, Mr. Kelly said SSgA's growing success in the public fund marketplace made it necessary to tap an industry veteran like Mr. Stanojev. Mr. Stanojev was a managing director and senior account manager for Putnam Global Institutional Management. Mr. Stanojev's duties have been temporarily reassigned while a search for a replacement is under way, Putnam spokeswoman Laura McNamara said.
Gail Eisenkraft was named director of marketing at Evergreen Investments, said spokeswoman Laura Fay. The position is new. Ms. Eisenkraft was first vice president of marketing strategy with Merrill Lynch's global private client group. Erik Hendrickson, spokesman for the Merrill Lynch unit, couldn't immediately be reached for comment.
Kara H. Lewis was named vice president and director of marketing and client service at Winslow Asset Management, and Walter J. Henry was named vice president and director of research. Both positions are new, and both report to Gerald W. Goldberg, president and CIO of the firm, which has $400 million in assets under management. Ms. Lewis was director of relationship management at Oak Associates, an independent equity investment manager; Oak Associates spokesman Howard Monaghan was not available for comment. Mr. Henry was CIO of Victory SBSF Capital Management, a subsidiary of KeyCorp. Victory spokesman Ronald Petrie said Mr. Henry's position was eliminated.
Christopher H. Barlow joined Transamerica Retirement Services as regional vice president of sales for southern Ohio, said Christy Sasser, spokeswoman. It is a new position. Mr. Barlow was director of alliance sales at ADP Retirement Services. Zach Siegel, spokesman for ADP, did not return calls seeking information on a replacement.
Joseph Barcic joined Mercer Investment Consulting's New York office as a principal, a new position, he said. He was an independent consultant, and prior to that had been a consultant at Callan Associates.
James W. Angelica was named senior research analyst at Fund Evaluation Group, confirmed Susan Mahan Fasig, managing principal and director of alternative investments. Mr. Angelica, who reports to Ms. Fasig, will be responsible for private capital investment manager research, with a primary focus on buyout funds. He was a principal at State Street Global Advisors; Brian Willinsky, spokesman for SSgA, was not able to comment at press time.
Andy Iseri joined Callan Associates as an international investment consultant, confirmed Nancy Malinowski, Callan spokeswoman. Mr. Iseri's position was created to supplement the existing international and global equity manager research team. He was an investment officer at the $153.2 billion California State Teachers' Retirement System, Sacramento, where he covered active domestic and international equity managers.
Glenn Stevens was hired as a managing director at the Gerson Group, an executive recruiting firm to the financial services industry, said Russ Gerson, chief executive. Mr. Stevens will be in charge of the firm's new London office and will oversee executive searches for asset management and investment banking firms. Mr. Stevens was chief executive officer of Nobok Inc., a sports media firm.
Micah Green and Marc Lackritz were named co-CEOs of the newly formed Securities Industry and Financial Markets Association. The association was created Nov. 1 from the merger of the Bond Market Association and the Securities Industry Association; it represents securities firms, banks and asset managers. Mr. Green was president and CEO of the Bond Market Association, and Mr. Lackritz was president of the SIA.
Separately, SIFMA nominated Ed Forst, chief administrative officer of Goldman Sachs, and Ellyn McColgan, president of Fidelity Brokerage, as co-chairmen of the board of directors; Blythe Masters, managing director and CFO of JPMorgan Chase, as chair-elect; and Paul Purcell, president and CEO of Robert W. Baird, as vice chair.
