Lyn Hutton, chief investment officer, and A. Nicholas De Monico, managing director and head of marketable alternatives, will take on expanded duties at Commonfund.
Ms. Hutton will be developing the custom investment office program, an investment management outsourcing line of business with $11 billion in assets. Spokesman Keith Luke said in an interview that Commonfund hopes to double its size by 2014.
Mr. De Monico was promoted to the new position of deputy CIO, and will “assume day-to-day management responsibility for all of Commonfund's marketable investment programs,” according to a Commonfund news release.
The company also announced other management changes.
Douglas McNeely, hired in March to run its new markets alternative sales team, has been promoted to managing director and group head of client sales and service.
Mr. Luke said Mr. McNeely is replacing Eugene Ferguson, who is retiring by the end of the year. Mr. McNeely will retain his other duties.
Commonfund added three executives to expand its business development activities with corporate and public pension plans, Mr. Luke said.
Carlton A. Byrd was hired as a managing director. He had been a member of the U.S. Treasury Department's office of financial stability. Also, Seyonne Kang was hired as a managing director and Karen Morehouse as director of business development coordination at Commonfund.
Ms. Kang had been executive director of institutional sales for Morgan Stanley Investment Management in San Francisco, and Ms. Morehouse, had been a senior associate at Morgan Stanley Investment Management.
Erica Platt, a Morgan Stanley spokeswoman, confirmed that Ms. Kang and Ms. Morehouse have left the company, but she declined further comment.
