Trustees of the $2.1 billion Missouri State Employees' Retirement System, Jefferson City, named Gary W. Findlay as the new executive director. Mr. Findlay, who will start Aug. 1, is replacing M. Steve Yoakum, who took over as executive secretary of the Public School Retirement System of Missouri July 1.
Mr. Findlay was chief executive officer of Gabriel, Roeder, Smith & Co., a Detroit-based employee benefits consulting firm. Previously, he had been executive secretary at Missouri Local Government Employee's Retirement System.
Kmart Corp., Troy, Mich., has promoted Stacey L. Kaplan to divisional vice president-compensation and benefits, a new position. She will assume responsibility for Kmart's benefit programs, including retirement plans. Kmart has about $1.4 billion in defined benefit plan assets and about $1.2 billion in 401(k) assets.
Ms. Kaplan was previously director-compensation for Kmart. She will be replaced by Lynda L. Gugel. Ms. Gugel was manager of compensation for Kelly Services.
Kevin Means has been named vice president-chief of equities, a new position, by Aetna Life Insurance and Annuity Co., Hartford, Conn. Mr. Means will be responsible for management of all equity portfolios. He had been chief investment officer at INVESCO Management and Research, Boston. Mr. Means' duties at INVESCO will be assumed by the quantitative investment management team, said Frank Keeler, president.
Also, Neil Kochen was named vice president-fixed income and will serve as Aetna's chief asset/liability strategist, another new post. Mr. Kochen formerly headed Aetna's investment policy and strategy department. His replacement has not been named.
Pioneering Management Corp., Boston, added two new staff positions.
Salvatore Pramas joined the firm as vice president-global fixed income and will spearhead Pioneer's new push into global fixed income. Mr. Pramas most recently was a global fixed-income portfolio manager at Massachusetts Financial Services, Boston. A Mass Financial spokesman said Mr. Pramas' duties have been assumed by other bond traders.
Dayna Gant was appointed vice president and director of institutional marketing and will also have responsibility for product design and client relationships. Ms. Gant had been vice president of marketing at Acadian Asset Management, Boston; her replacement has not been named.
Keith M. Schappert, vice chairman of J.P. Morgan Investment Management Inc., New York, was named president and chief executive officer of the firm. He succeeds David L. Brigham, who will become a senior adviser on investment management matters, assisting in strategic planning, risk management and professional training and development. Before becoming vice chairman, Mr. Schappert was head of fixed income.
Clifford M. Brown was promoted to director of fixed income at Aldrich Eastman & Waltch L.P., Boston. He had been a senior vice president of fixed income there.
Mr. Brown replaced Mark Snyderman, who joined Fidelity Management and Research Co. Investments, Boston, as a commercial mortgage securities investment officer, a new position.
Roland Lochoff was hired as senior manager of U.S. fixed income for PanAgora Asset Management, Boston. He replaces Fred Meltzer, who is now with World Asset Management. Mr. Lochoff was formerly director of fixed income at BARRA, Berkeley, Calif., where he was replaced by Deepak Gulrajani.
Charles Crane, director of research for Spears Benzak Salomon & Farrell, a New York money management firm, has taken on the added responsibility of president of SBSF Funds, a no-load mutual fund family. Mr. Crane, also portfolio manager of the firm's Capital Growth Fund, replaces Joseph Breslin, who resigned as president of the SBSF Funds and general counsel of the money manager.
Michael Parker, formerly an associate with the Atlanta law firm of King & Spalding, will join the firm as corporate counsel.
Van Kampen Merritt Management Inc., Oakbrook Terrace, Ill., entered the synthetic GIC market, hiring Gary A. McMahill to head marketing and product development in the new position of vice president and regional sales director.
Mr. McMahill was director of new business development and Western regional account manager at Laughlin Group, Beaverton, Ore. He will develop and market products primarily to pooled fund managers and GIC consultants for Van Kampen Merritt and will be based in Beaverton.
Paul L. McNamara joined Bank of New York Co. Inc. as senior vice president and manager of public funds and consultants marketing, a new position. Mr. McNamara previously was a vice president of J.P. Morgan Investment Management. His responsibilities will be absorbed by other staffers within the firm.
has joined Winslow Capital Management Inc., Minneapolis, as managing director responsible for marketing and client services. Mr. Foust previously was a vice president at Investment Advisers Inc., Minneapolis. His replacement at IAI has not been announced.
James D. McDonald has been promoted to senior vice president and director of research at Chicago Corp., overseeing a 24-person research staff. Mr. McDonald replaces Rick J. Martin, who left to join Swiss Bank Corp. as head of equity research.
Mr. McDonald was a vice president and senior analyst at Chicago Corp. following the environmental industry.