Roger C. Bransford, former president of Stein Roe & Farnham Inc.'s institutional asset management division and well-traveled pension consultant, has joined LCG Associates Inc., an Atlanta consulting firm. Mr. Bransford will serve as principal and consultant and is a member of the LCG board of directors. Mr. Bransford left Stein Roe in December. At LCG, he said, he will help build the firm's consulting client base and will handle some of the consulting duties.
John Snow, a co-founder of PanAgora Asset Management, Boston, has been named president of NatWest Investment Management USA, New York.
He is to build a full-service institutional funds management operation in the United States, with an initial focus on building a U.S. quantitative team.
NatWest, formerly known as County NatWest, runs $500 million in international securities for U.S. tax-exempt clients out of its London office. The new effort initially will focus on global tactical asset allocation and later, domestic quantitative U.S. equities, according to Alistair Lowe, senior vice president.
On some products, the new U.S.-based staff Mr. Snow is building will work with the firm's London portfolio managers, Mr. Lowe said. The Boston office also will market services of the firm's London and Hong Kong-based operations.
Mr. Snow left PanAgora June 30. His duties were be assumed by Alan Brown, head of the firm's London office and Richard Crowell, head of the Boston office.
James E. Condon, formerly vice president and treasurer for Hartmarx Corp., Chicago, was promoted to the newly created position of vice president of long-term planning and investor relations.
Mr. Condon will continue to oversee the company's $200 million in pension assets, although he will get assistance from the company's new treasurer, Steven R. Davison, formerly assistant controller and director of taxes.
The company has about $140 million in defined benefit assets.
Michael S. Duffey was appointed treasurer at M.A. Hanna Co., Cleveland, replacing L.C. Vanhoeven, who retired last month. Mr. Duffey will be responsible for all cash management, banking relationships, financial structure, credit policy, risk and pension fund management and international treasury operations. He had been vice president and treasurer at Foote, Cone & Belding Communications Inc., Chicago, where his position has not yet been filled.
Bluford H. Putnam was named managing director and chief strategist for the global investment management group of Bankers Trust, Boston, a new position. He will report to Ivan Wheen, managing director and chief investment officer. Mr. Putnam was previously chief investment officer of $1 billion private quantitative portfolio for European investors.
Stephen L. Hester was appointed ESOP trustee by the Teamsters union representing flight attendants in Northwest Airline's nearly $1 billion employee buy-out. The company is expected to put stock into the employee stock ownership plan later this month, said Mr. Hester, formerly senior partner at the Washington law firm of Arnold & Porter. Mr. Hester also recently joined American Capital Strategies Ltd., Bethesda, Md., as partner and general counsel. American Capital helped structure the Northwest plan.
In an expansion of his duties, Jon T. Ender has been promoted to executive vice president and chief investment officer of Chicago Corp., a new position at the investment banking company.
Mr. Ender will retain his current position as senior executive vice president and chief investment officer of Chicago Corp.'s Asset Management Group.
Robert W. Radsch was appointed portfolio manager of three Saddlebrook, N.J.-based Lexington Management funds: the Lexington Strategic Investments Fund, the Lexington Strategic Silver Fund and the Lexington Gold Fund. He had been portfolio manager and chief economist at the Bull & Bear Inc., New York. No replacement has been named.
Michael Miles, managing director-research with Prudential Real Estate Investors, Newark, N.J., is leaving to join Fidelity Management and Research, Boston, as director of real estate research, a new position, confirmed Robert DeFillippo, director of public relations at Prudential Real Estate. No replacement has been named.
joined Fleming Investment Management, London, as a director in the fixed interest portfolios group, a new position. He previously was an executive director of Goldman Sachs Asset Management in London.
Adrian Mitchell also joined Fleming's U.K. research team in a new position with responsibility for pension fund portfolio risk and style analysis, as well as development of stock valuation models and screening techniques. He previously worked as an investment consultant for Bacon & Woodrow.
Messrs. Knowles and Mitchell have not been replaced at their former employers.
Also Fleming Investment's director and head of charities marketing, John Harrison, resigned to become a director and portfolio manager at PDFM Ltd., London. He has not been replaced at Fleming.
Closson L. Vaughan was named director designate of the fixed-income group at ASB Capital Management, Washington. At the end of this year, Mr. Vaughn will replace Eugene W. Milligan, who plans to retire. Mr. Vaughn left his post at Provident Investment Counsel, Pasadena, Calif., for his new position; he was replaced by James Meehan.
was named vice president and director of mezzanine financing at Lincoln National Mezzanine Corp., a subsidiary of Lincoln National Investment Management, Fort Wayne, Ind., He replaces Ed Brown, who left to join another company, a Lincoln National spokesman said.
Mr. Holm previously was president of 3i Capital Corp., Boston, a venture capital unit of 3i Corp. that is closing down.