Ian King was hired as head of active European equities at Legal & General Investment Management, spokesman Steve Leach confirmed. Mr. King, who will start at the end of the month, will be based in London and will replace Alia Baig, who left "by mutual consent" in 2006 along with three other investment professionals, Mr. Leach said; he did not have further information about them. Following their departures, the assets were transferred to an index strategy while the company searched for a replacement for Ms. Baig. "Mark's task is to build up the team," said Mr. Leach said, adding that active European equities management capabilities should resume by the middle of this year. Mr. King previously helped established KDR Europe, a European equity hedge fund, and prior to that worked for American Express Asset Management International as head of European alternative investments in London until the hedge fund strategies he oversaw were liquidated due to lack of investments. KDR Europe representatives could not be reached for comment at press time. L&G has about £218 billion ($422 billion) in total assets under management, of which about £15 billion is in actively and passively managed European equities.
Cowen Group formed a new alternative investment group, Cowen Healthcare Royalty Partners, and hired three former partners from private equity firm Paul Capital Partners to run the group, said Jean Calleja, Cowen Group spokesman. The three, who left Paul Capital in October, are Todd C. Davis, managing director of Cowen and Co. and principal and founder of Cowen Healthcare; Clarke B. Futch, managing director of Cowen and a principal and founder of Cowen Healthcare; and Gregory B. Brown, a consultant for Cowen who will join the firm in October. Leo Chenette, spokesman, Paul Capital Partners, could not be reached by press time seeking information on replacements.
George Revoir was promoted to senior vice president of distribution at John Hancock Retirement Plan Services, said spokeswoman Laurie Lupton. It is a new position. Mr. Revoir was a regional vice president for John Hancock in Connecticut, and his replacement is being sought.
Fred Bloodgood joined Lincoln National as director of relationship management for the third-party administrator channel of Lincoln Employer Markets' defined contribution business, said Daniela Palmieri, spokeswoman. It is a new position. Mr. Bloodgood was vice president of TPA services at John Hancock Financial Services. Laurie Lupton, spokeswoman for John Hancock, said the firm is seeking a replacement.