Callan Associates promoted two longtime employees to new executive positions, while another senior employee is leaving, spokesman Scott Brown said.
Kelly Cliff will join Victory Capital Management as president, investment franchises, said Victory spokesman Eric Starkman. It is a new position.
Mr. Cliff is chief investment officer of public markets at Callan and co-leader of the firm's global manager research group. His last day will be Friday. The CIO responsibilities will be assumed by his brother, Ivan “Butch” Cliff, Mr. Brown said.
Butch Cliff, executive vice president, will expand his role as director of investment research at Callan and will be added to a number of the investment committees that oversee multimanager portfolios managed on behalf of Callan's discretionary clients, according to a news release. His title will not change, Mr. Brown said.
Kelly Cliff's appointment follows Victory's announcement in April that its parent company, Victory Capital Holdings, had entered into an agreement to purchase Munder Capital Management and Munder's wholly owned subsidiary, Integrity Asset Management. The purchase is expected to close in the fourth quarter.
Also at Callan, Mark Stahl, a senior vice president who most recently was head of U.S. equity research, will now co-manage the firm's global manager research group, which provides fundamental and statistical research on investment managers. Along with co-manager Inga Sweet, Mr. Stahl will oversee the quantitative and qualitative analysis of investment managers and the production of research and client reports, as well as work with Callan's general consultants to tailor searches according to client guidelines.