This week in new hires, Putnam announced a new leadership team for its global asset allocation organization; Steve Antonakes became acting deputy director of the Consumer Financial Protection Bureau in the wake of Raj Date’s departure; PFM Group named seven new managing directors; four New York Life executives joined the boards of bereavement-focused nonprofits; Henderson Global Investors hired a U.S. team; and Craig Hancock went to Westlake Securities.
Also, Groom Law Group welcomed Edward Meehan; F. Barry Nelson retired from Advent/Claymore Closed-End Funds; C. Ian Anderson joined the Public Company Accounting Oversight Board; Scott Estill became a partner at Heidrick & Struggles; and Whitney Dow went to Bandon.
Putnam Announces New Global Asset Allocation Leadership Team
Putnam Investments announced a new leadership structure on Friday for its global asset allocation (GAA) investment organization, which manages specialized multiasset class portfolios for retail and institutional clients. Effective immediately, the team will be led by co-heads James Fetch, Robert Kea, Robert Schoen and Jason Vaillancourt. Jeff Knight, who previously led the group, has left the firm to pursue other opportunities.
Fetch, who has been in the investment industry for nearly 20 years, joined in 1994, and continues to lead portfolio construction and risk. Kea, a 25-year industry veteran, joined in 1989 and drives top-down equity efforts. Schoen, who has nearly 25 years of investment industry experience, joined in 1997 and oversees equity process and risk. Vaillancourt, who brings 20 years of investment industry experience, has been with the firm since 2000 and manages global macro efforts.
Antonakes Named Acting Deputy Director of CFPB
The Consumer Financial Protection Bureau (CFPB) announced Steve Antonakes will serve as acting deputy director while the agency continues its search for a replacement for departing Deputy Director Raj Date. Antonakes will continue to maintain responsibility for his current duties as associate director for supervision, enforcement and fair lending at the CFPB.
Antonakes has more than 20 years’ experience as a financial services regulator. He first joined the CFPB in November 2010 as assistant director of large bank supervision, and was named associate director for supervision, enforcement and fair lending in June 2012. He began as an entry level bank examiner with the Commonwealth of Massachusetts Division of Banks in 1990, and served in numerous managerial capacities before being appointed by successive governors to serve as the commissioner of banks from December 2003–November 2010, only the second career bank examiner to ever serve in that capacity. He also served as the first state voting member of the Federal Financial Institutions Examination Council (FFIEC), as the vice chairman of the Conference of State Bank Supervisors (CSBS), and as a founding member of the governing board of the Nationwide Mortgage Licensing System (NMLS).
The PFM Group announced Monday that seven senior professionals have been promoted to managing directors of the firm. CEO John Bonow announced the promotions of Jeremy Bass, Jay Glover, Daniel Hess, Tracey Keays, Tim Kiley, Jessica Cameron Mitchell and Brent Wilder.
Bass, who serves municipal clients and those in the higher education sector and is based in the firm's Boston office, joined in 2001. Over the past twelve years, he has expanded his business from a general government practice to one that increasingly focuses on the highly specialized higher education sector; he works with clients throughout the northeast.
Glover, who joined about 13 years ago, works in Orlando. He serves major government clients throughout Florida, with responsibility for large and small cities, counties and school districts, as well as helping to develop the State's PACE environmental finance program.
Hess, who joined in 2001 after spending over three years as an auditor at PricewaterhouseCoopers, is head of fund accounting in Harrisburg, Penn. He oversees fund accounting, reporting and quality assurance for PFMAM's 14 local government investment pools and 2 SEC-registered money market funds, and previously served as PFMAM's compliance manager for six years; he remains a principal of its broker-dealer subsidiary.
Keays, who provides financial advisory services to clients in the New York market, joined in 2008 after a 28-year career as a public finance investment banker, working at EF Hutton, Bond Investor Guaranty and JP Morgan. Her responsibilities include working on the financial advisory team for Nassau County, New York City Transitional Finance Authority, Dormitory Authority of the State of New York (DASNY), Empire State Development, New York State Thruway, Westchester County, and other New York state and local issuers.
Kiley is an attorney, investment advisor and banker with over 30 years of experience. He joined PFM in 2009 after positions as investment banker at Morgan Stanley and SunTrust, and serves clients primarily in the healthcare sector; he is based in Orlando.
Mitchell joined with the acquisition of Evenson Dodge, where she had been employed since 1997. She is based in Minneapolis, and her practice is focused both on local (upper Midwest) and national (State Revolving Fund) clients.
Wilder joined in 2009. He is a professional with more than 24 years of finance experience, serving over half of those years as both a financial advisor and an investment banker with SunTrust and Citi in the Florida marketplace. He is responsible for the firm's school district and community development district practices, as well as its business with certain state-level agencies, cities and counties.
Four New York Life Execs Join Boards of Bereavement-Focused Nonprofits
New York Life announced recently that Angela Kyle, senior vice president, and Thomas Krach, Mark Madgett and Frank Scarpa, managing partners, have joined the boards of nonprofit organizations focusing on childhood bereavement.
Kyle was named to the board of Comfort Zone Camp (CZC), which serves children age 7–17who have lost a parent, sibling or primary caregiver. She is chief marketing officer of the company’s insurance group; she joined the firm in 2009. Earlier, she held key positions with TIAA-CREF, Bank of America and Wachovia.
Madgett, managing partner of the Seattle general office, was named to the board of The Moyer Foundation, which created Camp Erin, another free camp for children and teens who are grieving a loss. He has been with the firm for 25 years, starting as an agent in 1986 in Denver, Colo. He held positions of increasing responsibility and was named managing partner in Seattle in 1998.
Krach, managing partner of the Columbus, Ohio, general office, and Scarpa, managing partner of the northern Ohio general office, were named to the board of Cornerstone of Hope, a support center for grieving children, teens and adults in Ohio. Krach began his career with the firm in 1997 as partner of the northern Ohio general office. He was promoted to senior partner in 2000 and was named managing partner of the Columbus general office in 2009. Earlier, he held positions of increasing responsibility at Prudential. Scarpa has been with the company for 15 years, starting as a partner in Saddle Brook, N.J. He held positions of increasing responsibility and was named managing partner of the northern Ohio general office in September, after serving as managing partner of the Manhattan general office.
Henderson Global Investors Hires U.S. Team
Henderson Global Investors has hired credit manager Kevin Loome and five U.S. credit specialists. The team joins from Delaware Investments, and has worked together for more than five years.
The new team consists of Kevin Loome, head of credit, U.S.; Charles Devereux, head analyst; Devon Everhart, senior analyst; Douglas Zinser, senior analyst; Matthew Fanandakis, analyst; and Gregg Gola, trader/analyst. The team will be based in Philadelphia, and Loome will report to Stephen Thariyan, global head of credit, with the others on the team reporting to Loome.
Westlake Securities LLC announced the recent addition of Craig Hancock to its capital markets team. Originally from Katy, Texas, Hancock has worked in securities for over a decade, in Los Angeles with Wedbush Morgan and in San Francisco with BlueFin Research Partners, before moving to Austin in 2010 with BlueFin. His specialty is institutional equity research sales.
He spent five years in active duty military service and achieved the rank of captain in the U.S. Air Force before entering the securities markets.
Edward Meehan Joins Groom Law Group
Groom Law Group, Chartered, announced Monday that Edward Meehan has joined the firm's ERISA litigation group. Prior to joining Groom, he spent 23 years at Skadden, Arps, Slate, Meagher & Flom LLP, where he was a partner in the litigation group.
Meehan is an experienced litigator, having tried several dozen cases and hundreds of contested hearings before courts, arbitrators, and administrative agencies. He has substantial experience in disputes involving employee benefits, including pension and health plans, often in the context of Chapter 11 or other corporate restructurings. In addition to his work on employee benefit matters, he has defended class actions and other complex disputes across a wide range of industries. He also has represented clients in connection with Department of Labor and SEC investigations.
F. Barry Nelson Retires From Advent/Claymore Closed-End Funds
F. Barry Nelson retired from Advent Capital Management LLC, effective Feb. 1, after nearly 17 years with the firm, and stepped down as a co-portfolio manager on the Advent/Claymore Enhanced Growth & Income Fund (LCM), Advent Claymore Convertible Securities and Income Fund (AVK) and the Advent Claymore Convertible Securities and Income Fund II (AGC). All three funds will continue to be managed by co-portfolio managers Tracy Maitland, Advent's chief investment officer, Paul Latronica, a managing director, and Anthony Woodson, also a managing director.
Douglas Teresko replaces Nelson as a co-portfolio manager on LCM. Teresko, a managing director, has been working on the fund since 2011. He will join the other co-portfolio managers in overseeing its management. Teresko joined in 2011, and has been serving in an array of portfolio management capacities on Advent's closed-end funds and long-only convertible strategies. Prior to joining, he worked in global proprietary trading at Credit Suisse. Earlier, he was a portfolio manager at Citadel and DKR. He has also held various investment positions at Houlihan Lokey and JPMorgan.
The Public Company Accounting Oversight Board (PCAOB) announced Monday that C. Ian Anderson has joined the organization as regional associate director, a new position in the division of enforcement and investigations, where he will lead the board's enforcement work in its New York office.
Prior to joining, Anderson served as senior trial counsel in the division of enforcement in the Miami office of the SEC, where he prosecuted cases involving accounting fraud, registration violations, failure to supervise trading activity, and other federal securities law violations. Before joining the SEC, he worked as an associate at the law firms of Chadbourne & Parke LLP and Davis Polk & Wardwell LLP. He has also served as a law clerk to Judge Emilio Garza on the U.S. Court of Appeals for the Fifth Circuit.
Scott Estill Joins Heidrick & Struggles as Partner
Heidrick& Struggles International announced recently that Scott Estill has joined the firm as partner within the financial services practice. He is based in New York.
Most recently, Estill was a founding member and director at investment banking firm Coady Diemar Partners. Previously, he spent five years in the investment banking divisions of Donaldson, Lufkin & Jenrette and Credit Suisse First Boston, where he worked on a variety of financing projects. He began his career at Hambrecht & Quist as a junior portfolio manager.
Bandon Welcomes Whitney Dow
Bandon Capital Management recently announced the addition of Whitney Dow to its management team. As managing director, he will be responsible for spearheading the firm’s marketing and relationship management efforts.
Dow brings more than 15 years of investment management experience in marketing, business development and relationship management. He spent nearly six years as a director with Russell Investments, responsible for the expansion of its distribution footprint in the U.S. by building strategic relationships with national, regional, and independent broker-dealers and other intermediaries. Prior to that, he served for five years in consulting and analytical roles with Financial Research Corp. (FRC).
Read the Jan. 30 New Hire Roundup at AdvisorOne.com.