People:Cutts joins Northern Trust to run Melbourne, Australia office

Paul Cutts was named managing director of Northern Trust’s office in Melbourne, Australia, confirmed spokeswoman Alexis Geocaris. It is a new position. Northern Trust opened an office in Melbourne in July 2007 when it was appointed global custodian to Australia’s A$59.6 billion (US$55.4 billion) Future Fund. “Australia’s managed fund market is the fourth-largest in the world, and we see great opportunities for further expansion of our business in the region,” said Gregg Behrens, head of Northern Trust’s businesses in the Asia-Pacific region. “In his new, role Paul will ensure we continue to deliver high-quality service to our clients while looking for opportunities to grow our operations across Australia and New Zealand.”

Mr. Cutts was managing director of Northern Trust in the Netherlands. Eric Pouwels, Northern’s asset servicing business development manager for the Netherlands, will replace Mr. Cutts.

Kyle Mylius was named head of institutional consultant relations at Bridgeway Capital Management, confirmed Mike Rome, head of the firm’s business development group. The new position was created to help boost the firm’s institutional business, Mr. Rome said. Some 20% of Bridgeway’s $6 billion in assets is run for institutions, and company officials hope to grow that to 50% of the business in the next five years, he said. Mr. Mylius was a principal at Rainier Investment Management and served institutional clients and consultants. Kurt Polk, principal at Rainier, could not be reached for information on a replacement.

Thomas M. Thees was named managing director for Jefferies & Co.’s fixed-income division, confirmed spokeswoman Natalie Jones. He is not directly replacing anyone; his duties had been handled by other staff members. Mr. Thees was COO at MarketAxess; he left the electronic trading company in September 2006, spokesman Steve Davidson said.

Chet Ragavan was named chief risk officer for ING Investment Management-Americas, said spokeswoman Tracey Gordon. The position is new. Mr. Ragavan will report to Robert Leary, ING Investment Management-Americas’ chairman and CEO. Mr. Ragavan was a managing director and co-head of the portfolio analytics group for BlackRock Solutions, following parent BlackRock’s 2006 merger with Merrill Lynch Investment Managers. He had been at Merrill Lynch for more than 25 years. BlackRock spokesman Brian Beades wasn’t immediately available for comment on a replacement.

Jerry Bailey was named executive vice president of finance and operations at Halcyon Asset Management, and Suzanne McDermott was named deputy chief compliance officer and senior counsel. Both positions are new, part of Halcyon’s preparations for going public after being acquired by Alternative Asset Management Acquisition Corp., said Mary Beth Grover, a spokeswoman. Mr. Bailey was senior advisory director of Bear Stearns Merchant Bank, where he focused on the financial sector. Ms. McDermott was an assistant U.S. attorney in the eastern district of New York, where she was in the securities fraud unit, Ms. Grover said.

Separately, Saman Shams was named vice president of Halcyon subsidiary Halcyon Real Estate Investors. His position is part of the hedge fund manager’s continued expansion into distressed real estate investment, Ms. Grover said. Mr. Shams was vice president in the real estate investment bank of Credit Suisse.

Robert Ollwerther was named COO at hedge fund manager Avenue Capital Group, effective April 7, according to a source familiar with the company. Mr. Ollwerther was COO of Merrill Lynch’s hedge fund development and management group. Lizzie Anderson, a Merrill Lynch spokeswoman, did not return a call regarding Mr. Ollwerther’s replacement. Roxanne Donovan, an Avenue Capital spokeswoman, declined to comment or provide details.

David Lomas was named managing director and head of the European financial institutions team at BlackRock, spokeswoman Emma Phillips confirmed. The position is new. He will focus on developing BlackRock’s insurance business across Europe, the Middle East and Africa. Based in London, he will report to Kristen Dickey, head of financial institutions group account management, and Andrew Dyson, head of institutional business for EMEA countries.

Mr. Lomas was head of insurance asset management at Schroder Investment Management and has been replaced by Paul Forshaw, said Constance de Wavrin, Schroder spokeswoman. Mr. Forshaw managed the fixed-income sales team at ABN AMRO Asset Management, Ms. de Wavrin added. Further information on Mr. Forshaw’s former position at ABN AMRO was not immediately available.

Jerome Anglade will join the London office of Citi Alternative Investments as managing director on May 15, according to an internal CAI memo obtained by P&I Daily. The position is new. Mr. Anglade will create a new structured credit opportunities hedge fund that will focus on stressed and distressed corporate securities, and will serve as senior portfolio manager. Mr. Anglade is a managing director in the structured credit group of Morgan Stanley’s London fixed-income group. His duties will be assumed by others in his unit, said Jennifer Sala, a Morgan Stanley spokeswoman.

Ethan Penner was named an executive managing director at real estate investment firm CB Richard Ellis Investors and a member of the executive committee, said Pam Barnett, CBRE spokeswoman. This is a new position. Mr. Penner was a principal with Lubert-Adler, a real estate investment firm. Calls to Lubert-Adler about Mr. Penner’s replacement were not returned by press time.

Andrew Tisdale was named managing director in the London office of private equity firm Providence Equity Partners. It is a new position. Mr. Tisdale was co-global head of the media and communications group at Morgan Stanley. Mr. Tisdale has not yet been replaced at Morgan Stanley, according to sources close to the firm.

David Noh was named senior managing director and head of Asian merchant banking by hedge fund manager Citadel Investment Group. The position, based in Hong Kong, is new. Mr. Noh reports to Tim Throsby, CEO of Citadel Asia, said Katie Spring, Citadel spokeswoman. Mr. Noh was managing director and head of corporate principal investments for the Pacific Rim for Merrill Lynch’s Asian operations. “We see tremendous opportunities to expand our business in Asia. David Noh is a world-class investor and adding his significant experience to our firm is of great strategic importance,” Kenneth C. Griffin, Citadel’s founder and CEO, said in a news release.

Cynthia Duda was promoted to managing director at private equity investment management firm Capital Dynamics, said spokeswoman Stefanie Theis. Ms. Duda had been a director in the New York office of the London-based firm. Her duties will not change, Ms. Theis said.

John S. Romiza was named head of international equity trading at Dimensional Fund Advisors, working out of the company’s London office, confirmed Darla Hastings. He will report to CEO David Salisbury and Henry Gray, head of global equity trading. Mr. Romiza was senior vice president and director of European trading at Franklin Templeton Investments. A call to Franklin Templeton was not returned by press time.

Paul Cartmill joined Morgan Stanley’s hedge fund subsidiary, FrontPoint Partners, as a trader on the financial services investment team. Mr. Cartmill will focus his trades on distressed mortgage and corporate debt assets, said Erica Platt, a Morgan Stanley spokeswoman. The position is new. Mr. Cartmill was a director at Merrill Lynch, working as a trader on the firm’s subprime mortgage trading desk.

Ranjit Sufi, managing director at Nicholas-Applegate Capital Management and head of institutional client service, sales, marketing and consultant relations, is leaving the company “to pursue other opportunities,” said spokeswoman Susan Hunter. Mr. Sufi, who was at Nicholas-Applegate for nine years, reported to Marna Whittington, managing director and CEO, Ms. Hunter said. The company will consider internal and external candidates to replace Mr. Sufi. Mr. Sufi could not be reached by press time for comment.

Ann B. Glover was named chief marketing officer at ING Insurance Americas, according to a news release from ING Americas. She replaced Toby Hoden, who in February was named chief marketing officer for ING Investment Management Americas, the asset management division of parent ING Group. Ms. Glover was group senior vice president, corporate relations, and chief marketing officer at Hartford Financial Services Group. She was replaced by Connie Weaver, who was named senior vice president, marketing and communications, spokeswoman Alexis Lemieux said.

Patrick J. Mc Nelis was named executive vice president of global sales and distribution for Pyramis Global Advisors, the institutional arm of Fidelity Investments. In a news release, Pyramis said Mr. Mc Nelis will be responsible for leading the firm’s direct sales activities globally; managing the client services and consultant relations groups and related support; and overseeing channel services, which coordinates the distribution of Pyramis products. Mr. Mc Nelis’ duties had been handled by Drew Lawton, president of Pyramis Global Advisors Trust, who left the company in February, a Fidelity spokesman said. Mr. Mc Nelis was an executive director and head of institutional advisory services at Principal Global Investors. Principal spokeswoman Tina Marchetti wasn’t immediately available for information on his replacement.

David Abner was named director of institutional ETF sales at WisdomTree Investments, confirmed Stuart Bell, spokesman. Mr. Abner reports to Ray DeAngelo, director of ETF distribution, and replaces Thomas McCusker, who left to pursue other opportunities, Mr. Bell said. Mr. Abner was managing director and head of ETF trading at BNP Paribas. Kerrie McHugh, BNP Paribas spokeswoman, did not return a call by press time seeking details on Mr. Abner’s replacement.

John Sessler was named managing director for institutional business at Rydex Investments, confirmed spokeswoman Lori Klash Winkler. It is a new position. Mr. Sessler will work with Trisha Miller, vice president and institutional sales director, to expand the firm’s institutional capabilities. He was director of investment products at Rydex and will not be replaced, Ms. Winkler said.

Jeffrey Braemer and Michael Ray were named senior vice presidents and product managers at TimesSquare Capital Management, according to a news release. Mr. Braemer was director, client service and marketing, at Jacobs Levy Equity Management; Mr. Ray was client service manager for public pension funds at Goldman Sachs Asset Management. Calls to the three firms seeking additional information were not returned by press time.

Lori Crosley was named a senior vice president and head of the institutional marketing strategy group at Evergreen Investments, said spokeswoman Laura Fay. The position is new. Ms. Crosley was a principal with Greenwich Associates, in the firm’s custom projects unit. Greenwich spokesman Ryan Utsumi had no information on plans to replace Ms. Crosley.

Michael Slater has been named chief representative for Northern Trust’s Abu Dhabi representative office, confirmed spokeswoman Alexis Geocaris. It is a new position. Northern Trust received approval in February from the Central Bank of the United Arab Emirates to open the office. Mr. Slater will oversee Northern Trust’s business development initiatives, focusing on the Gulf Cooperation Council countries — Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. Mr. Slater was Northern Trust’s director of asset servicing sales in the Middle East. He will retain his previous responsibilities and will not be replaced.

Carsten Schack was named director of sales and marketing for Germany and Austria at Putnam Investments in Frankfurt, said spokeswoman Laura McNamara. The position is new. Mr. Schack was director, institutional sales, with Fortis Investments. Officials at Fortis weren’t immediately available for comment.

Michael Borkan was named managing director of distribution at Wachovia Global Asset Management, Evergreen Investments’ institutional sales division for international markets, said spokeswoman Laura Fay. He will be based in London. Mr. Borkan replaces Mark Archer, who left the company last autumn; Ms. Fay did not know where Mr. Archer went. Mr. Borkan will oversee the development of new institutional business for Europe, Africa and the Middle East. He was Northern Europe regional manager for Old Mutual Asset Managers. An Old Mutual spokesman said Mr. Borkan will not be replaced.

Carl Hess will succeed Roger Urwin as Watson Wyatt Worldwide’s global head of investment consulting July 1, said spokesman Paul Deane-Williams. The London-based Mr. Urwin, who has held the post for 13 years, will take on a new role focusing on “the global development and delivery of investment research,” according to a news release. Mr. Hess, the firm’s practice leader of the Americas, will retain his current duties after assuming his broader role in July. Mr. Hess wasn’t immediately available for further comment.

Bin Chen was named business leader of Mercer’s investment consulting practice in China, said spokesman Charles Salmans. The position is new and will be based in Shanghai. Ms. Chen will be responsible for providing investment consulting services to government and corporate pension funds. Ms. Chen helped establish “the retirement and the investment consulting practice of Hewitt Associates in China,” according to a news release from Mercer. Maurissa Kanter, Hewitt spokeswoman, wasn’t immediately available for comment.

Mary Nell Billings, manager of retirement plans, governance and strategic planning at the $18.4 billion pension plans of FedEx Corp., Memphis, and Marc LeBlanc, fund administrator and general counsel for the $3.1 billion Sheet Metal Workers’ National Pension Fund, Alexandria, Va., were among those appointed to the Department of Labor’s ERISA Advisory Council. William L. Scogland, a senior partner at the law firm Jenner & Block, was named chairman of the committee. Patricia Brambley, founder and president of pension consultant Resources for Retirement, was named vice chair, according to a Labor Department news release.

Also named to the 15-member council were David Evangelista, principal with MSPC Certified Public Accountants and Advisors; Sanford Koeppel, vice president of legislative and regulatory affairs, Prudential Financial; and Kevin Wiggins, an ERISA attorney in the law firm of Jackson Kelly PLLC.

All appointees serve three-year terms. Information regarding whom they are replacing was not available by press time.