Robert Milligan on Dec. 11 was named interim executive director of the Florida State Board of Administration, Tallahassee. He succeeds Coleman Stipanovich, who resigned Dec. 4 following losses in an investment pool internally managed by the $187.5 billion state board. Mr. Milligan, a former Florida state comptroller and SBA trustee, is insurance ombudsman for consumers in the state Department of Financial Services, which is headed by Chief Financial Officer Alex Sink, also an SBA trustee. Trustees appointed Mr. Milligan at a meeting Dec. 11. They also announced they will conduct a national search for a permanent replacement.
Yngve Slyngstad was named executive director of Norges Bank Investment Management, which primarily manages the 2 trillion kroner ($371 billion) Government Pension Fund-Global, Oslo, spokesman Vidar Dalsbo confirmed. Mr. Slyngstad replaced Knut N. Kjaer, who announced in September that he will leave to pursue other opportunities after 10 years in the post. Mr. Slyngstad has been at NBIM for 10 years and was head of equity investments, based in London. He will transfer to Oslo. NBIM will be searching for his replacement, Mr. Dalsbo added.
Marc A. Mathews was named treasurer of the University of Kentucky, Lexington, according to the universitys website. Among other duties, he will help oversee the universitys $980 million endowment. He replaces Henry Clay Owen, who is retiring. Mr. Mathews was the universitys controller. Information on his replacement was not immediately available.
Mitchell Stack was named investment director, fixed interest and alternatives, at the A$61.5 billion (US$54.5 billion) Future Fund, Melbourne, Australia, effective Jan. 21, according to the funds website. He was Australian country head and head of investments at Western Asset Management in Melbourne. Information on his replacement at Western Asset was not immediately available.
Robert J. Manning was elected chairman of the University of Massachusetts board of trustees, confirmed spokesman Robert P. Connolly. The board oversees the universitys $350 million endowment. Mr. Manning is replacing Stephen P. Tocco, who resigned as chairman. Mr. Manning is CEO, president and CIO of MFS Investment Management, which had $204 billion in assets under management as of Sept. 30.
Ohio State Teachers Retirement System, Columbus, hired recruiting firm Hudepohl to search for an executive director to replace Damon Asbury, who announced in November that he will leave when his contract expires June 30. The trustees of the $80 billion fund had said they hope to hire Mr. Asburys replacement before he leaves.
Charles E.F. Millard was confirmed by the Senate as executive director of the PBGC, according to a news release. Mr. Millard, who was managing director of real estate manager Broadway Partners, was appointed by President Bush on May 23; he replaced Vince Snowbarger, deputy director of the PBGC office of policy and external affairs, who had been interim executive director since the departure of Bradley Belt in May 2006. Mr. Belt is now chairman of Palisades Capital Advisors.
Ellyn A. McColgan was named president and COO of Morgan Stanleys global wealth management group, starting in April, said Morgan Stanley spokesman James Wiggins. She replaces James P. Gorman, who was recently named co-president of Morgan Stanley in a wide-ranging executive-suite shake-up.
The announcement marks Ms. McColgans return to the asset management industry following her abrupt departure from Fidelity Investments on Aug. 7, only a few months after her elevation to the new position of president of distribution and operations had handicappers calling her a leading candidate to replace Fidelity Chairman Edward Ned Johnson. Ms. McColgans departure was announced the same day Fidelity officials said Mr. Johnson had brought back former Fidelity veteran Rodger A. Lawson as president of FMR.
Keith Schappert resigned as managing director and CEO of Credit Suisses asset management business in the Americas, confirmed spokeswoman Suzanne Fleming. Mr. Schappert, who joined Credit Suisse in November 2006 from Federated Investors, is leaving to pursue other opportunities, Ms. Fleming said. Mr. Schappert was not immediately available to provide details on his plans. The company has not yet named a replacement.
Pierre Sequier was named global CEO of Sinopia Asset Management in Paris, the quantitative specialist within the HSBC Group, spokeswoman Jenne Mannion confirmed. Mr. Sequier replaced Philippe Goimard, who was promoted to CEO of HSBC Investments for France. Mr. Sequier was formerly deputy CEO and CIO of Sinopia; he will continue as CIO. HSBC will not seek to replace him as deputy CEO.
Gary Bartlett will become head of fixed income at Aberdeen Asset Management in January, spokes¬man James Thorneley said. Mr. Bartlett will replace Steve Ilott, who will leave the firm in March to potentially establish an alternative asset management company. Mr. Ilott could not be reached for comment. Mr. Bartlett will retain his present role as chief executive of Aberdeens U.S. operation and remain based in Philadelphia. Aberdeen had £48.4 billion ($98.8 billion) in fixed-income assets under management as of Sept. 30.