Odds & Ends - February 27, 2009
February 27, 2009
*Richard Ketchum has been named CEO of the Financial Industry Regulatory Authority (FINRA), effective March 16. He will retain his current responsibilities as chairman of FINRA and head of NYSE regulation. Ketchum replaces Mary Schapiro, who resigned to take over as chairwoman of the SEC.
*Rob Smyth, founding partner and chief investment strategist at Riverfront Investment Group has been named chairman of the investment advisory committee for the $41 billion Virginia Retirement System. Smyth takes the chairmanship from Joe Grills, retired CIO of the $78.8 billion International Business Machines Corp. Retirement Funds. Grills remains on the system's investment advisory committee, however.
*GAMCO Investors has named George Froley as a consultant to its convertible strategies, where he will also serve in marketing and sales functions. Froley was founder and chairman of Froley, Revy Investment Co..
*The $67.6 billion Washington State Investment Board has named Theresa Whitmarsh, the plan's COO, as acting executive director while a permanent replacement for Joe Dear is sought. Dear will become CIO of the $171.3 billion California Public Employees' Retirement System.
*Private equity firm Quadrangle Group has appointed Michael Huber and Joshua Steiner to the newly created positions of co-presidents. Their appointments follows the announcement that Steven Rattner, the firm's co-founder and a managing principal, is leaving Quadrangle to advise Treasury Secretary Timothy Geithner on the automobile industry's problems. Huber and Steiner will retain their previous titles and responsibilities as managing principals with the firm.
*Private equity firm Clayton, Dubilier & Rice has named James Hawkes as an advisor. Before joining Clayton, Dubilier & Rice, Hawkes spent 37 years with Eaton Vance Corp., serving in several roles, including chairman, chief executive, and CIO.
*Northern Trust Co. has named James McDonald as chief investment strategist, a new position with the firm, in which he will report directly to Robert Browne, the firm's CIO. McDonald was previously director of equity research. He will remain a trustee of the NT Alpha Strategies Fund and will serve on Northern Trust's investment policy, private equity investment and tactical asset allocation committees.
*Paul Piper has announced plans to retire from his position as managing director and CIO at Intermediate Capital Group on March 31. The CIO role with the firm will be taken by Damien Scaillierez.
*Cohen & Steers has named David Edlin as a senior VP and national sales manager, where he will oversee the firm's sales force. Edlin replaces Kevin Crook, who left the firm in the summer. Prior to joining Cohen & Steers, Edlin was national sales director for AllianceBernstein's broker-dealer channel.
Odds & Ends is a compilation of reported news from a variety of sources. The information in this section is assumed to be reliable, but all information should be confirmed, as IMW does not guarantee its accuracy.
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