David C. Mills plans to retire as executive director of the State of Wisconsin Investment Board, Madison, by the end of 2007, according to a statement from the board. No date was set for Mr. Mills' departure, said Vicki Hearing, public information officer. The board, which oversees $88 billion in assets, plans to initiate a national search as soon as possible.
National Railroad Retirement Investment Trust, Washington, is searching for a managing director, global public markets, a new position at the $29.4 billion pension plan. The search is being handled internally. Applicants should e-mail the plan at [email protected] All questions were referred to William Raver, chief executive officer and chief investment officer, who did not return calls by press time.
Mark Armour was named senior managing director and head of worldwide institutional business at AMVESCAP, said spokesman Doug Kidd. Mr. Armour replaced John Rogers, who resigned from the firm for personal reasons, said Mr. Kidd. No details were available. Mr. Armour was head of sales and service for AMVESCAP's worldwide institutional business. Mr. Armour hasn't made a decision yet on whether to find someone to take on that role, Mr. Kidd said.
Paul Bateman was named chairman of asset and wealth management for JPMorgan, effective at the end of January, according to a source at the firm. The position, which is new, will allow Mr. Bateman to focus on broader investment product oversight while reducing his involvement in day-to-day management, according to the source. Mr. Bateman was chief executive officer of global asset management; Jes Staley, chief executive officer of asset and wealth management, will take on those duties permanently. Mr. Bateman will continue to serve as head of the investment committee for asset management.
Paul W. Marcuse joined UBS Global Asset Management as managing director and head of its global real estate business. He will be based in London and will be a member of the firm's executive committee. Mr. Marcuse succeeds James W. O'Keefe, who will be appointed senior adviser to the UBS global real estate team. Mr. Marcuse was global chief executive at AXA Real Estate Investment Managers. Dominique Carrel-Billiard, CEO of parent firm AXA IM Group, also took the CEO title at AXA Real Estate, said spokeswoman Susan Cook.
James A. Ramsay was named senior managing director and co-head of U.S. fixed income at Robeco Investment Management, said spokesman Scott Sunshine. Mr. Ramsay will work with fixed-income co-head Daniel Vandivort, who also is chief investment officer of fixed income at Robeco's Weiss Peck & Greer division. Mr. Ramsay replaces Tom Girard, who left at the end of 2006 to spend more time with his family, said Mr. Sunshine. Mr. Ramsay will help oversee more than $10 billion in fixed-income assets. Mr. Ramsay was a senior vice president and account manager in the marketing department at Pacific Investment Management Co.; his duties have been assumed by other team members, said Mark Porterfield, PIMCO spokesman.
John Carson, head of the institutional clients department at Baillie Gifford, and Ross Lidstone, chairman of Baillie Gifford Overseas, both will retire in April, spokeswoman Sally Moore confirmed. Robin Menzies, a Baillie Gifford partner and portfolio manager for international growth, will assume Mr. Carson's responsibilities upon his retirement. Information on Mr. Lidstone's replacement was not available by press time.
Baillie Gifford also promoted three people to partners: Lynn Dewar, director in the institutional clients department; Hamish Dingwall, portfolio manager for Japanese equity and global equity strategies; and Scott Nisbet, director in the institutional clients department with responsibilities for North American and Australian clients. Their responsibilities will remain the same.
Bill Muysken will join Thames River Capital as a portfolio manager of the London-based firm's multimanager hedge fund division, according to Loudon Greenlees, Thames chief financial officer. The position is new. Mr. Muysken currently is global head of research at Mercer Investment Consulting, a project-based role in which he just finished setting up dedicated alternatives research capability for the firm, said Claire Blackwell, Mercer's global director of marketing. In May 2006, Mr. Muysken's role as global head of manager research was assumed by Andy Barber, according to Mercer. Ms. Blackwell said Mr. Muysken won't be replaced; Mercer will look internally for someone to lead the newly established alternatives research operation and probably will seek additional recruits from outside the company to replace him on global tactical asset allocation and currency research.
Stephen Jonas, executive director of Fidelity Management & Research, which advises Fidelity Investments' mutual funds, will retire at the end of January, confirmed Anne Crowley, spokeswoman for the company; he will pursue a "number of family and philanthropic interests." Vice Chairman and COO Robert Reynolds will remain president of FMRCo. "Steve feels he has achieved what he wanted to do when he took over — he has hired over 90 analysts and put in an entirely new management structure," Ms. Crowley said.