Rupert Clarke was appointed CEO of London-based Hermes Pensions Management, according to a news release. One of his new initiatives will be a £50 million ($103 million) investment to boost Hermes specialist alpha asset management capability, which encompasses asset classes such as commodities, hedge funds, real estate and private equity. Another focus will be expanding Hermes third-party asset management business. Mr. Clarke was interim CEO after Mark Anson left earlier this year to join Nuveen Investments; Mr. Clarke had been head of Hermes Real Estate Investment Management. The firm which has £52.4 billion in assets under management, including the £38.3 billion BT Pension Scheme is seeking a new head of real estate. Spokesmen Chris Matthews and Nick Denton could not be reached at press time for further information. Separately, Rod Kent was named chairman of the BT pension fund, replacing Tim Chessells, who will retire, according to Mike Bartlett, chief press officer for the BT Group. Mr. Kent was CEO of merchant bank Close Brothers Group and is now its chairman.
The $7.3 billion Arizona Public Safety Personnel Retirement System renewed its search for a CIO after a deal with a previously announced candidate fell through, said Jim Hacking, executive director. The board will select from a pool of very well-qualified candidates from the original search, Mr. Hacking said. He said he hopes to schedule a special board meeting so board members can approve a negotiated agreement at its regular Dec. 19 meeting.
John Miller was named CIO of Nuveen Asset Management, replacing William Fitzgerald, who will leave the firm by March 31, confirmed spokesman Christopher Allen. Mr. Fitzgerald, who will remain with the firm to assist with the transition, did not return a call seeking information on his plans. Mr. Miller is a managing director and municipal bond portfolio manager at Nuveen; he will continue his portfolio management duties.
Greg Michel was named director of fixed income at ING Investment Management in Australia, according to a news release. Mr. Michel replaces James Wright, who was promoted to CIO in October. Mr. Michel was manager, portfolio management, with the firms fixed-income team; information on his replacement was not available.
Bill Green was named head of debt investments at real estate investment firm Starwood Capital Group, a spokesman said. It is a new position. Mr. Green will help revive Starwoods debt securities business, which was nearly dormant for several years after the firm spun off its debt unit. He was global head of real estate for Europe at Wachovia Securities.
Stephen Foster was promoted to executive vice president of marketing and sales at ProManage, said CEO Carl Londe. He replaces Luke Collins, who left this week to become senior vice president of business development at Managers Investment Group. ProManage also will outsource some sales duties to third-party firm TriStar Marketing Group.
George S. Dallas was hired as director-corporate governance, a new position, at F&C Investments, said Sarah Deutscher, communications manager. He will report to Karina Litvack, head of governance and sustainable investment, she said. F&C has £100 billion ($206 billion) in assets under management. Mr. Dallas was managing director handling analytical policy and research in corporate governance for Standard & Poors in London.
Patricia Kelly was named CFO of the PBGC, according to a news release. She succeeds James Gerber, who left in February to become CFO of WorldStrides, a tourism operator in Charlottesville, Va. Ms. Kelly was CFO of the Department of Agricultures Natural Resources Conservation Service.
Josh Brooks, Putnam Investments CIO for large-cap equities, left the firm, said spokeswoman Laura McNamara. She declined to give a reason for the departure; Mr. Brooks couldnt be reached for comment. Kevin Cronin, the head of investments, is assuming Mr. Brooks responsibilities until a replacement is found. Mr. Brooks was also one of the portfolio managers overseeing the $13.3 billion Putnam Fund for Growth & Income, the $663 million Putnam Classic Equity Fund and the $669 million Putnam Research Fund. His responsibilities on those funds will be assumed by other portfolio management team members, Ms. McNamara said.
Daniel Charles was named managing director of Janus Capital Groups $79 billion institutional business, a spokesman confirmed. Mr. Charles, who will report to CEO Gary Black, replaces John Zimmerman, who left in August to start a third-party marketing firm. Mr. Charles will not be replaced in his previous position as vice president of institutional sales.
Alex Johnson was named portfolio manager at Rogge Global Partners, a fixed-income specialist with $31 billion in assets. Mr. Johnson, in the new position, will serve as a general portfolio manager and primary contact for Rogges U.K. and global clients, said John Graham, senior partner and portfolio manager. Mr. Johnson was most recently a vice president and fixed-income product specialist for BlackRock. Emma Phillips, spokeswoman for BlackRock, could not immediately offer details on Mr. Johnsons replacement.
Bernie Pallicer joined hedge fund manager Advent Capital Management as managing director and associate portfolio manager. He will join the companys convertible hedge fund and global convertible strategies investment teams, said Paige Reeve, an Advent spokeswoman. Ms. Reeve said the position is new, part of an expansion of Advents convertible investment team. Advent manages about $4.4 billion in convertible, high-yield, equity and event-driven strategies. Mr. Pallicer was a convertible trading specialist at Merrill Lynch and directed the firms convertible trading desk.
Sally Blatt joined RREEF Alternative Investments real estate business as director and portfolio manager, and Alan Purser will be vice president, said John T. Gallagher, spokesman. Ms. Blatt will be on the RREEF America REIT II portfolio team. Mr. Purser will develop and maintain client relationships in the Southeast. Separately, Derrick McGavic was hired as managing director, client relations, of RREEF North America Group. All are new positions. Ms. Blatt was regional leasing director with Equity Office Properties, a REIT that Blackstone Group took private earlier this year. Mr. Purser was vice president of Buchanan Street Partners, which TCW bought in October; Buchanan Street spokeswoman Holly Naylor could not be reached for information on replacing Mr. Purser. Mr. McGavic was managing director and portfolio manager for RREEFs structured debt/mezzanine portfolio management team in Chicago; his duties will be assumed by other members of the structured debt/mezzanine portfolio management team.
Seth Katz joined Pomona Capital as director to lead its primary fund-of-funds business, according to the private equity firms website. Tracy Gordon, spokeswoman for ING, Pomonas parent company, did not return calls seeking information on who Mr. Katz replaced. Mr. Katz had managed the private assets portfolio of the $2 billion Rockefeller University endowment. Joseph Bonner, endowment spokesman, could not be reached by press time for information about Mr. Katzs replacement.
Brian Hird was named vice president at BlackRock, where he will be a member of the asset management companys strategic advice service team. The position is new, confirmed spokeswoman Andrea Coleman. She said BlackRock is expanding the service team, which assists clients in setting their investment strategies. Mr. Hird was a vice president at JPMorgan Asset Management, where he worked in fixed-income quantitative research. Information on Mr. Hirds replacement was not immediately available.
J. Bret Young was named senior vice president and U.S. sales leader at GE Asset Management, confirmed spokesman Chris Linehan. Mr. Young replaces Jack Boyce, who was named managing director at AIG Investments and head of the institutional business in the Americas in October. Mr. Young will be responsible for institutional sales and strategic distribution in the U.S., according to a news release. He will report to Kathy Karlic, president of institutional sales and marketing. Mr. Young was executive vice president, director of managed assets, at Dreyfus Investments. Further details were not available; a spokeswoman at Dreyfus, did not return a call seeking comment by press time.
Anthony Fry will join Evercore Partners in a new position as a London-based senior marketing director, effective Jan. 1, a spokesman confirmed. Mr. Fry was a senior adviser at Lehman Brothers, where a spokeswoman said the firm doesnt comment on former employees.
Richard B. Putnam was hired as a managing director at RREEF North America, and Stephen W. Lekki was hired as a director in portfolio management, a spokesman said. Both are new positions. Mr. Putnam will be responsible for acquiring office, industrial and retail properties in Californias Los Angeles and Orange counties; he was executive director and member of the capital markets group concentrating on investment sales at Cushman & Wakefield. Mr. Lekki will responsible for managing the $473 million CalWest industrial portfolio, a joint venture with the $259.5 billion California Public Employees Retirement System; he was vice president and portfolio manager at AMB Property Corp. RREEF spokesman John T. Gallagher did not respond to numerous queries asking who Mr. Lekki is replacing, but he did say Mr. Lekki was part of a team managing the CalWest portfolio. CalPERS spokesman Clark McKinley noted that the CalWest management team has had some turnover.
Michael Bowman joined Invesco as a senior director in the firms institutional solutions group, responsible for client service and marketing to institutional plan sponsors in the western U.S., said spokesman Bill Hensel. The position is new. Mr. Bowman was a managing director for Advent Capital Management. Advent COO Edward E. Johnson wasnt immediately available for comment.
American Academy of Actuaries is searching for an executive director to replace Kevin Cronin, who plans to retire at the end of March 2008. The academy is forming a search committee to fill the position, according to a news release; further details were unavailable.
John Siciliano was named managing partner at Grail Partners. Mr. Siciliano, who joined Grail as a partner in January, is now the second managing partner at the firm, along with founder Donald Putnam. The position was created because the firm has expanded significantly in the past year in both its advisory and merchant banking businesses, and has also added a number of new employees, Mr. Siciliano said in an interview. He will be more responsible for managing the firms day-to-day operations, while Mr. Putnam focuses on strategic initiatives and finding new investment opportunities. Grail officials plan to continue expanding the business and aim to launch a new private equity fund next year.
Wolf Kohn joined hedge fund manager SEQA Capital Advisors as head of research for high-speed trading. The position is new, although Mr. Kohn has collaborated with the investment team for the past three years, said Louise Curbishley, SEQAs CFO. Mr. Kohn will work with Andrew F. Van Hise, SEQAs founder and a portfolio manager, to develop quantitative trading strategies that incorporate Mr. Kohns high-speed market forecasting techniques.
Mr. Kohn was chief scientist at Clearsight Systems, a software application company he founded. Clearsight remains in business, Ms. Curbishley said.
Raj N. Vora joined Northern Trust Global Advisors as vice president in its private equity group, said a Northern Trust spokeswoman. It is a new position. Mr. Vora was an associate at Wind Point Partners.
Matthew B. Coll replaced Paul Braverman as a director on the board of Wellington Management Portfolios (Dublin), the firm that oversees Boston-based Wellington Managements Dublin-domiciled funds, according to a news release. Mr. Braverman will retire. Mr. Coll is a director of Wellington Management International. A Wellington spokeswoman declined to comment.
Michael Welsome was named director at the McLane Group, a business intelligence and risk advisory firm, confirmed Managing Director Chad Gottesman. Mr. Welsome will be responsible for client development, compliance and firm strategy. Mr. Welsome retired this summer from his position as executive director of the $22 billion New York City Police Pension Fund. According to the funds website, Anthony Garvey is the new executive director.
Bill Frist, former U.S. Senate majority leader, is joining Cressey & Co., a new private investment firm, as partner, said a Cressey spokesman. Cressey focuses on equity investments in midmarket U.S. health-care companies. Mr. Frist, a physician, was a Republican senator from Tennessee; he retired earlier this year.
James W. Lukens joined Standish Mellon Asset Management as a senior product manager, said spokesman Mike Dunn. It is a new position. Standish Mellon introduced a number of new products this year, including absolute-return and hedge fund offerings, and Mr. Lukens will oversee the firms product management and marketing communications efforts. Mr. Lukens has been working on a book in the two years since he left Putnam Investments, where he was a senior vice president and institutional portfolio manager, Mr. Dunn said.
Greg Garvin joined AIG VALIC as executive vice president of independent distribution, said spokeswoman Linda Skolnick. The position is new. Mr. Garvin was at Security Benefit Life Insurance, where he served as president of a unit that offered products through regional brokerage and banking distribution. Michel Cole, spokeswoman for Security Benefit, did not return calls by press time.
Paul Escobar joined SSgAs insurance asset management team, Insure-Vest, as head of U.S. business development, said Karen Kruck, senior managing director and head of SSgA Insure-Vest. It is a new position. Mr. Escobar will serve existing clients and establish new relationships in a sector that calls for highly customized, consultative efforts, Mr. Kruck said. Mr. Escobar was a managing director and CIO with Sapers & Wallack, a regional benefits consulting firm in Massachusetts.
SSgA has more than $30 billion in insurance-related assets under management.
Ed Riley and Coby McDonald joined hedge fund-of-funds firm EIM Management USA, both as directors. Mr. Riley joined the client services team and manages client communications; Mr. McDonald joined the business development team and focuses on consultant relations, according to a news release. The positions were added as part of EIM Groups U.S. expansion. Mr. Riley worked in the client service group of Bank of Ireland Asset Management. Brendan Donohoe, BIAMs director and president, was unavailable to comment about Mr. Rileys and replacement. Mr. McDonald was a vice president in BlackRocks global consultant relations team, responsible for U.S. and Canadian consultants; Brian Beades, a BlackRock spokesman, said the firms policy is not to comment on personnel matters.
Paul Richards was hired by Watson Wyatt Worldwide as senior investment consultant, focusing on the impact of environmental, social and governance issues on institutional investment strategies, confirmed Matthew Battersby, external spokesman for the firm. The position is new. Mr. Richards will work with Watson Wyatts Thinking Ahead Group, led by Roger Urwin, global head of investment consulting, and the asset research team, led by David Hoile, senior investment consultant. Mr. Richards was head of non-U.S. consultant relations at Goldman Sachs Asset Management. He was replaced by Alex Bark; information on his previous position at Goldman could not be learned by press time.