(updated with correction)
Chip Castille, managing director and CIO of Wilshire Funds Management, will leave at the end of the week, confirmed spokeswoman Kim Shepherd. Mr. Castille is leaving to pursue other opportunities, said Ms. Shepherd, who was unable to provide further details on his departure. He will be replaced by Jim Dunn, currently a vice president for Wilshire Funds Management. The firm, a division of Wilshire Associates, focuses on providing multimanager, hedge fund and customized investment strategies.
Keith Babbitt was named managing director and co-head of securities lending, global prime finance, North America, at Deutsche Bank, said Renee Calabro, a spokeswoman. It is a new position, which Mr. Babbitt will share with Paul Busby, who was promoted from director. Mr. Busby will retain his current job functions. The two will report to Anthony Byrne, head of securities lending, and Mark Haas, head of global prime finance, North America. The global prime finance unit works with hedge funds and hedge fund investors. Previously, Mr. Babbitt was head of North American securities lending at Merrill Lynch; a spokeswoman there was unable to say whether he has been replaced.