Christopher Ailman was named chief investment officer of the $26 billion Washington State Investment Board, Olympia.
Mr. Ailman had been chief investment officer for 11 years of the $2 billion Sacramento County (Calif.) Employees' Retirement System; his replacement hasn't been named yet.
Mr. Ailman is to start Dec. 2 at the investment board.
He replaces Phil Halpern, who left in mid-September to become chief investment officer and treasurer at the California Institute of Technology.
Thomas K. Witt was hired by H.E. Butt Grocery Co. as director of investment and retirement plans. He most recently director of benefit fund investments at Vought Aircraft Corp.
Mr. Witt's first order of business will be restructuring the $500 million 401(k) plan, including adding investment choices and starting a participant education program. The company hired Callan Associates, San Francisco, to assist. The fund now has only one investment option, a balanced pool run by several managers, he said.
A.D. Frazier Jr., chief operating officer of the Atlanta Committee for the Olympic Games, will join INVESCO, Atlanta, as executive vice president, a member of the management committee and a member of the board of directors, effective Nov. 1. He will be involved in institutional client relationships. Prior to working on the Olympics, he was an executive vice president at First National Bank of Chicago.
Victoria Sharpe joined Institutional Property Consultants Inc., San Diego, as a vice president and portfolio manager, a new position. Ms. Sharpe most recently was an equity vice president with LaSalle Advisors Ltd., Chicago, where her duties have spread among various people.
William Patterson was named head of the employee ownership and governance division in the AFL-CIO's recently created corporate affairs department. Mr. Patterson had been director of corporate affairs at the International Brotherhood of Teamsters, where he headed up the union's shareholder activism efforts.
At the Teamsters, Bartlett Naylor, national coordinator for the Teamsters' office of corporate affairs, was named acting director until a permanent replacement for Mr. Patterson can be named.
Seamon "Sandy" Lincoln will join Lincoln Capital Management Co., Chicago, as chief operations officer Dec. 1, according to J. Parker Hall, president and managing director.
Mr. Lincoln, who left as chief investment officer of Kemper Corp. and Kemper Financial Services in 1995, will oversee operations, business strategy, technology and finance. He won't manage investments.
Since leaving Kemper, Mr. Lincoln has served as a strategic and business consultant at times to Lincoln Capital and a few other money managers.
Mr. Lincoln couldn't be reached for comment.
Robert J. Barbera joined Hoening Group as executive vice president and chief economist, said Alan Herzog, a company spokesman. Jose A. Rasco also will join Mr. Barbera at Hoening as vice president and economist. Both positions are new. Mr. Barbera had been co-chairman of Capital Investments International, a research boutique. Mr. Rasco was a vice president and economist with Capital Investments. Hoening, a global securities firm, is the parent of Axe-Houghton Associates, Rye Brook, N.Y. A Capital Investments representative said the firm would not comment on replacements.
Christina L. Epstein has been named vice president and senior product manager of global custody at Bankers Trust's global institutional services product management group. As vice president, she will be in charge of developing new products and strategies for the global/master trust segment of the firm.
She was vice president and business manager for master trust services at Fidelity Investment's Boston office prior to joining Bankers Trust in New York.
Fidelity is still searching for Ms. Epstein's replacement.
Amit M. Nanavati and Stuart Nagode were named vice presidents of United Asset Management. Mr. Nanavati formerly was vice president of finance, components and peripherals business unit of Digital Equipment Corp. Mr. Nagode formerly was an assistant vice president of UAM responsible for business affiliate analysis and compliance.
Mr. Nanavati will assume responsibility for financial accounting policies, external reporting information systems and internal reporting systems relating to UAM affiliates. Mr. Nagode will oversee the collection and analysis of financial and operating information on UAM's affiliates for input into the firm's consolidated reporting system.
Mr. Nanavati replaces David Wedzenko, who left to join J.P. Morgan. Mr. Nagode's position is new.
John S. Tobey, former president of Liberty Asset Management who left the firm in 1994, formed his own firm, Investment Directions, in Boston.
The firm will provide investment-related products and publish a newsletter for individual investors focusing on investments in closed-end funds.
Investment Decisions plans to provide other newsletters and eventually to offer investment management services, either through mutual funds or individual securities, for individuals and pension plans.
David G. Tittsworth was named executive director of the Investment Counsel Association of America, which is moving to Washington from New York.
He had been Democratic counsel to the House Commerce Committee.
Mr. Tittsworth replaces Mark Tomasko, who did not want to move.
