Ashbel C. Williams Jr. was hired as executive director/CIO of the $163.5 billion Florida State Board of Administration, Tallahassee, on a unanimous vote July 29 of the FSBA trustees. He will start Oct. 20.
Mr. Williams, who was executive director of the Florida SBA from 1991 to 1996, will replace Robert Milligan, who was named interim executive director after Coleman Stipanovich resigned in December over concerns about subprime exposure in the boards internally managed Local Government Investment Pool.
The CIO title and duties were added in restructuring the position.
Mr. Williams is managing director responsible for investor relations and business development at Fir Tree Partners, a hedge fund. Fir Tree which has $5 billion in assets under management in equity and fixed-income strategies plans to fill Mr. Williams position with a senior-level replacement, said Pen Pendleton, a Fir Tree spokesman. The firm hasnt decided on the process for the search, he added.
Under the contract approved by trustees, Mr. Williams will receive an annual salary of $325,000 and incentive compensation of up to 8% of salary. Mr. Stipanovichs salary was $182,000 and was eligible for the 8% incentive compensation.
Hudepohl & Associates, an executive recruiter, assisted the Florida SBA in its search.
Mr. Williams couldnt be reached for comment.
Mr. Milligan, who came out of retirement to fill the interim position, will no longer be involved with the Florida SBA after Mr. Williams joins the board, said Dennis D. MacKee, communications director for the Florida SBA.
CPPIB taps Tilford as VP
William E. Tilford was named vice president, global corporate securities at the C$122.7 billion (US$122.1 billion) Canada Pension Plan Investment Board, Toronto, confirmed Joel Kranc, CPPIB spokesman. The position is new. Mr. Tilford was a partner at Connor, Clark & Lunn Investment Management in Vancouver. His duties there will be reassigned, and the position will not be filled, said Martin Gerber, a director at the firm.
Lawton lands at Fridson
Drew E. Lawton, former president of Pyramis Global Advisors sales division, was named president of Fridson Investment Advisors. The position is new.
In a telephone interview, Mr. Lawton said he will oversee Fridsons business activities in the U.S. while collaborating with BNP Paribas, an equity holder in Fridson, on overseas business. He will be based in Boston.
Mr. Lawton left Pyramis Global Advisors Trust in February.
Fridson, based in New York, is a boutique manager focused on credit market opportunities.
Georgia picks Pharris as executive director
Pamela Pharris was named executive director of the $15.1 billion Georgia Employees Retirement System, Atlanta, confirmed a spokeswoman.
Ms. Pharris replaces Michael Nehf, who left the system in June to become executive director of the $79.6 billion Ohio State Teachers Retirement System, Columbus.
Ms. Pharris was a benefits delivery manager at Hewitt Associates. Information on her replacement was not immediately available
Ex-SEC commissioner Campos joins Texas Teacher
Roel Campos, former SEC commissioner and partner at the law firm of Cooley Godward Kronish, was named fiduciary counsel to the $108 billion Texas Teacher Retirement System, Austin, confirmed Texas Teacher spokesman Howard Goldman. Mr. Goldman provided no further details.
Bettinger to take CEO mantle at Schwab
Walter W. Bettinger II was named CEO of Charles Schwab Corp. and a member of the companys board of directors, effective Oct. 1, confirmed spokesman Greg Gable.
He will replace Charles R. Schwab, the companys founder and current CEO, who will remain executive chairman of the board of directors.
Mr. Bettinger will retain his title as president and will take over operational duties of the day-to-day business, Mr. Gable said. Mr. Bettinger was also COO; there are no plans to name a new chief operating officer, Mr. Gable said.
Capital Z president to depart
Elizabeth Flisser will leave as president at Capital Z Asset Management in mid-August. No decision has been made on a replacement.
After nine years at Capital Z, I am leaving the firm to take some time off and consider the next phase of my career, Ms. Flisser said in a statement.
Laurence Cheng, chairman and CIO, said in a statement that Ms. Flisser played an important role in preparing Capital Z for its successful management buyout, and she felt this was an opportune moment to depart.
Separately, James M. Marrone Jr. joined Capital Z as a partner and was named chief marketing officer, confirmed spokeswoman Mary Beth Grover. It is a new position. Mr. Marrone will oversee sales, marketing and product development. He had been a senior managing director at Bear Stearns Asset Management, whose parent was acquired earlier this year by JPMorgan Chase.
Mazen rides Global Currents
Elisa Mazen joined Global Currents Investment Management as a managing director and portfolio manager, said Maria Rosati, spokeswoman for Global Currents parent Legg Mason. The position is new.
The international and global equity boutique was formed by a team that left another Legg subsidiary, Brandywine Global Investment Management, earlier this year.
Ms. Mazen was a managing director and head of international and global equity investments with Oppenheimer Capital, a unit of Allianz Global Investors. Allianz spokeswoman Megan Frank wasnt immediately available for comment.
Duffain joins BlueCrest
Kerry Duffain joined BlueCrest Capital Management as head of its U.K. institutional business, Ms. Duffain confirmed. The position is new. She reports to Piers Westerman, head of investor relations.
Ms. Duffain formerly was global head of consultant relations at Pioneer Investments.
Paul Price, Pioneers global head of institutional, said in a statement that Ms. Duffain will not be immediately replaced. We have built a deep bench of talent and experience in the field of consultant relations, and I will rely on this expertise to cover the responsibilities for the time being.
Hewitt names consulting chiefs
Eric Fiedler and Yvan Legris were named co-presidents of Hewitt Associates consulting business, which includes investment consulting, effective Oct. 1, confirmed spokeswoman Julie Macdonald. They will report to Russell Fradin, chairman and CEO.
The two replace Perry Brandorff, who is leaving the company. Roger Parkin, current European consulting leader, is also leaving and Messrs. Fiedler and Legris will take on some of his duties as well, Ms. Macdonald said. Its going to be a new leadership structure, she said. This is not a person-for-person replacement.
Further information on the future plans of Messrs. Brandorff and Parkin was not available, Ms. Macdonald said.
Mr. Fiedler is leader of Hewitts Asia Pacific consulting business, and Mr. Legris leads all Hewitt U.K. consulting and benefits outsourcing businesses. Replacements for both Messrs. Fiedler and Legris will be named before Oct. 1, Ms. Macdonald said.
Rattner retires from DLJ
Steven Rattner, head of DLJ Merchant Banking Partners and co-chairman of the firms investment committee, retired, said spokeswoman Suzanne Fleming.
Mr. Rattner started with the firms predecessor, investment bank Donaldson Lufkin & Jenrette, in 1985 and co-founded its leveraged finance division. A year after Credit Suisse bought DLJ in 2000, Mr. Rattner joined the private equity group, becoming head of the group in 2005.
He was replaced by Nicole Arnaboldi, who was named chairman of the firm as well as chairman of its investment committee and chairman of a newly formed management committee. Ms. Arnaboldi will also chair the asset management committee; she had co-chaired the committee with Mr. Rattner. She will continue to serve as vice chairman of alternative investments in the asset management division of parent Credit Suisse and co-head of Credit Suisses illiquid alternatives business.
Also serving on the new management committee are senior partners Ed Johnson, Kamil Salame, Susan Schnabel and Colin Taylor.
Winthrop CIO on board
Gregory J. Hahn, CIO of Winthrop Capital Management, was named a trustee of the $8.9 billion Indiana State Teachers Retirement Fund, Indianapolis.
He replaces Cindy Walsh, who resigned in April in anticipation of her husband, Timothy M. Walsh, becoming CIO of the Indiana teachers fund. Ms. Walsh, vice president and CFO at National Bond and Trust, earlier this month was named a trustee of the $17.2 billion Indiana Public Employees Retirement Fund, Indianapolis.
Gov. Mitch Daniels made the appointments.
Winthrop does not manage any money for the Indiana teachers fund, said Molly Deuberry, director of communications and outreach of the teachers fund.
SL Capital selects Ebersole
Jamie Ebersole was named senior investment director, private equity, North America, at SL Capital Partners, said Richard England, press manager.
Mr. Ebersole will help manage the investment firms $625 million U.S. private equity business. He will be based in Boston.
He was investment director at Allianz Private Equity Partners as well as head of the New York office and a member of the private equity investment committee. An executive in Allianzs New York office declined to comment on a replacement. Petra Kruell, Allianz spokeswoman in Munich, could not be reached by press time.
Reardon moves to Congress Asset
Michael Reardon was named vice president of consultant relations at Congress Asset Management, confirmed spokeswoman Caitlin Davis. The position is new.
Mr. Reardon was senior client service officer at the Massachusetts Pension Reserves Investment Management Board, Boston. The position has not been filled, according to the $51.3 billion funds website. A call to PRIM was not returned by press time.
GAMCO names new CFO
Jeffrey Farber was appointed executive vice president in finance/corporate development and CFO at GAMCO Investors, spokesman Douglas Jamieson confirmed. Mr. Jamieson would not say if the position was new or if Mr. Farber replaced anyone.
Mr. Farber was senior vice president in finance, controller and a senior managing director at Bear Stearns Cos. Inc. He left after the firm was acquired by JPMorgan Chase & Co. earlier this year. Calls to JPMorgan Chase were not returned by press time.
GAMCO had $28.7 billion in assets under management as of March 31.
New CFO set to join Watson Wyatt
Roger Millay was named CFO at Watson Wyatt Worldwide, effective Aug. 18, confirmed spokesman Ed Emerman. Mr. Millay replaces Carl Mautz, who announced his retirement in February. Mr. Millay was senior executive vice president and CFO at Discovery Communications LLC, Silver Spring, Md. He was replaced by Brad Singer, according to a news release on the companys website.
BGI taps new Latin America CIO
Alejandro Reynoso was named CIO and regional director of Latin America at BGI. He will start Sept. 15.
It is a new position created in response to the firms growing footprint in Latin America, said Christine Hudacko, BGI spokeswoman. BGI had $20 billion in assets under management in Latin American markets as of June 30.
Mr. Reynoso will be responsible for BGIs product development and management across Latin America and for distribution efforts in Mexico and offshore markets. He will be based in San Francisco and will report to Daniel Gamba, CEO of Latin America and the Caribbean.
Mr. Reynoso was managing director for corporate strategy at the Mexican Stock Exchange.
Guillermo Medina, spokesman at the Mexican Stock Exchange, did not immediately return calls for comment.
Citadel adds 2 from Bear Stearns
James Barrett was named managing director and head of global distribution at Citadel Investment Group, and Christopher Miller was named global head of consultant relations.
Both positions are new, said Doug Holt, a Citadel spokesman.
Messrs. Barrett and Miller held the same titles at Bear Stearns Asset Management, which was acquired earlier this year by JPMorgan Chase.
Changing of guard at Vanguard U.S. Growth
James G. Reilly, executive vice president and portfolio manager at AllianceBernstein, and P. Scott Wallace, a senior vice president and portfolio manager at the firm will be lead managers for roughly two-thirds of the $4.8 billion Vanguard U.S. Growth Fund subadvised by AllianceBernstein, according to Vanguard spokesman John S. Woerth.
The two managers are replacing Alan E. Levi, a senior vice president and portfolio manager at AllianceBernstein, who will retire at the end of this year, Mr. Woerth said.
Mr. Woerth said there were no performance-related issues related to the move. According to Morningstars data, the Vanguard U.S. Growth fund has trailed its category by 1.52 percentage points a year for the three years through July 24, and by 1.09 points a year for the past five years.
William Blair & Co. LLC subadvises the remaining third of the funds assets.
Rampart promotes pair
Debbie L. Cancela and John J. Harrington were promoted to managing directors at Rampart Investment Management, said Ronald M. Egalka, president and CEO.
Ms. Cancela, who was senior vice president, director of operations and chief compliance officer, will continue to manage all operations, client service and compliance areas at the firm.
Mr. Harrington, who had been executive vice president and director of investments, will continue to manage Ramparts investment group while taking on responsibility for managing the firms business development department. Mr. Egalka said he and David R. Fraley, managing director and secretary, had previously run business development.
With the promotions, Mr. Egalka said Ms. Cancela and Mr. Harrington will take responsibility for all the tactical areas of the company, while he and Mr. Fraley focus on strategic matters, including expanding the companys global reach and putting more emphasis on institutional business.
Barclays names 1st U.S. infrastructure head
Trace McCreary was named managing director and head of U.S. infrastructure finance at Barclays Capital, said spokesman Brandon Ashcraft. This is a new position.
Mr. McCreary was senior managing director in the global industries group at Bear Stearns Cos. Inc. which was acquired by JPMorgan Chase & Co. earlier this year. Brian Marchiony, JPMorgan spokesman, did not return calls by press time.
Hall hires to expand fund-of-funds business
J. Phil Oelze Jr. was named vice president and head of investor relations for Hall Capital Partners alternatives fund-of-funds strategies, said John Boneparth, president.
The new position was created to help the firm increase its fund-of-funds business. Mr. Boneparth said he hoped Hall Capitals $2.5 billion fund-of-funds business could grow to become 25% to 50% of the $22 billion firms total business.
Mr. Oelze was a director of capital introduction and hedge funds services for Citigroups corporate and investment bank.
Hall Capital develops multiasset-class strategies for institutional and individual investors.
Urdang names operations chief
Liz Conklin was named director of operations at real estate firms Urdang Capital Management and Urdang Securities Management, said Mike Dunn, spokesman for parent BNY Mellon Asset Management. The position is new.
Ms. Conklin will be responsible for management and oversight of all trading and operations. E. Todd Briddell, Urdang managing director and CIO, said in a news release that Ms. Conklins task of building the companys infrastructure was essential for our success as we accelerate our global expansion.
Ms. Conklin was a senior vice president and director of technology and separately managed account operations for Affiliated Managers Groups Managers Investment Group. Brett Perryman, AMG spokeswoman, wasnt immediately available for information on Ms. Conklins replacement.
GLG adds investment strategy chief
Jamil Baz joined GLG Partners as chief investment strategist. The new position is based in the alternative asset managers London office, said spokesman Andy Merrill. Mr. Baz is responsible for developing asset allocation and assisting with the development of GLGs global macro hedge fund platform and other thematic funds.
Mr. Baz was executive vice president and a portfolio manager of the PIMCO Global Multi-Asset Fund and several target-date retirement funds. His duties have been assumed by others on the investment team, said PIMCO spokesman Mark Porterfield.
EIM USA picks Perez for risk management
Paulo Peres was named director of risk management by EIM USA. The new position at the hedge fund-of-funds manager gives Mr. Peres oversight of all manager and portfolio risk management processes, said company spokesman Patrick Clifford.
Mr. Peres was an executive director in JPMorgan Chase & Co.s hedge funds and financial institutions credit group. Lauren Francis, a JPMorgan Chase spokeswoman, said she did not have information about Mr. Peres replacement.
Lamb to shepherd Asian property for Russell
Martin Lamb was named head of property, Asia Pacific, at Russell Investments, confirmed spokesman Matt Burkhardt. Its a new position.
Based in Singapore, Mr. Lamb will oversee private fund research and portfolio management of funds in the region.
Mr. Lamb was senior vice president of Gerrity International, a retail shopping center developer in China.
Portfolio Management Consultants gets new strategist
Bob Andres was named chief investment strategist at Portfolio Management Consultants, the investment arm of Envestnet, effective July 1, confirmed spokesman Stephen Kennedy. The position is new. Mr. Andres previously was CIO for fixed income at Haverford Investment Management. Jonathan Smith was appointed to that position before Mr. Andres December departure, a Haverford spokeswoman said.
Sorin hires DiDonato as senior partner
Brian R. DiDonato was named senior partner at Sorin Capital Management, where hell be responsible for commercial real estate debt, equity and special situation investments, confirmed spokesman Tripp Kyle. The position is new.
Mr. DiDonato was president and CIO of Capmark Investments. A call to Capmark seeking information on a replacement was not returned by press time.
Cohen retires from Hellman & Friedman
Mitch Cohen, managing director at private equity firm Hellman & Friedman, has retired, confirmed spokeswoman Monica Everett.
Mr. Cohen focused on investments in the media and telecommunications industries. He was responsible for relationships with Hellman & Friedmans limited partners.
Directors Susanna Daniels and Robert Little will be assuming his duties.
New consultant relations head at Northern Trust
Matt Severs was named head of consultant relations for Northern Trusts corporate and institutional services business in North America, confirmed spokeswoman Alexis Geocaris. The position is new.
Mr. Severs was division manager for cross-border pooled funds at Northern Trust. That position has been filled by Deanna Belczak, who was Northern Trusts U.S. product manager for cross-border pooling.
Torrisi moves to MFC from Lee Munder
Brian Torrisi was named managing director and head of U.S. consultant relations at MFC Global Investment Management, a new position.
He will report to Frank Saeli, senior managing director and head of U.S. sales and relationship management, according to a news release.
Mr. Torrisi was a partner and director of consultant relations for Lee Munder Capital Group, Boston. A replacement is expected to be chosen shortly, said Jeff Davis, CIO at Lee Munder.
Mercer nabs Blass as client services chief
Daniel Blass was named head of client services in Mercers investment management business, confirmed spokesman Alistair Peck. The new position is based in London.
Mr. Blass was a relationship manager at Legal & General Investment Management. L&G spokesman Steve Leach would not say if anyone replaced Mr. Blass.
McMahon makes move to Aravali
David McMahon Jr. was named vice president-institutional sales and business development at fixed-income hedge fund manager Aravali Partners.
The position is new, created in part to deal with increased interest from institutional investors in the firms municipal bond arbitrage strategy, said Mark A. Young, Aravalis president. Mr. McMahon will divide his responsibilities between marketing and sales to institutions and business development activities, including new product development and strategic alliances, Mr. Young said.
Aravali manages about $225 million in its municipal arbitrage strategy, as well as in relative value fixed income and related hedging strategies. Mr. McMahon was executive director-tax-exempt derivative sales and marketing at Morgan Stanley.
Wilshire Analytics taps Europe leader
Michael Harriman was named senior managing director and head of Wilshire Analytics in Europe, according to spokeswoman Kim Shepherd. The new position is based in London.
He will report to Dennis A. Tito, chairman and CEO of parent Wilshire Associates.
Mr. Harriman was a principal at Positive View, a London-based consultant offering risk monitoring, performance measurement and regulatory compliance to securities and asset management firms. Prior to joining Positive View, Mr. Harriman was founding CEO of Strategic Asset Management Solutions, also of London, which provided similar services.
Officials at Positive View could not be reached by press time for comment about a replacement.