Jeffrey W. States was named CIO for the Sacramento County Employees' Retirement System, Sacramento, Calif. He replaces Christopher Ailman, who left the $2.4 billion fund in December to become CIO of the Washington State Board of Investment. Mr. States was director of investment at the New Mexico Public Employees Retirement System; he has yet to be replaced.
Michael A. Hamilton will join Investment Advisers Inc. as vice president and growth equity portfolio manager, a new position, May 12.
He joins IAI's seven-member growth equity team from Horizon Asset Management, which recently went out of business. Mr. Hamilton was a principal at Horizon.
Robert Ammann was named lead manager of the Founders Discovery Fund at Founders Asset Management, replacing David Kern, who left to join Fremont Investment Advisers.
Mr. Ammann has been managing the small-cap portion of the Discovery Fund and also was co-portfolio manager of the Founders Special Fund