New Hire Roundup: Carasso Joins Senate Finance Committee Staff

Smith to head Soveriegn Wealth Funds for MassMutual asset management companies; more

This week in personnel announcements and new hires, Adam Carasso joined the staff of the Senate Finance Committee and the Investment Program Association welcomed a new board chairman and six new board members.

Also, Gary Smith was named head of Sovereign Wealth Funds for MassMutual Asset management companies, Heather Nesle became president of the New York Life Foundation and Patrick Doyle went to Capital One Bank.

Carasso Joins Senate Finance Committee Staff

Senate Finance Committee Chairman Max Baucus, D-Mont., announced that Adam Carasso has joined the Democratic staff of the committee, where he will be a senior tax and economic advisor focusing on tax reform and other fiscal issues.

Carasso joins from the Democratic staff of the House Budget Committee, where he served as chief economist and revenue analyst. Prior to his time on the Budget Committee, he held research positions at the New America Foundation and the Urban Institute.

IPA Welcomes New Chairman, Board Members

The Investment Program Association (IPA) has named Mark Goldberg of W.P. Carey as chairman of the board for 2014. He succeeds Frank McCarthy of Ameriprise Financial Services. Kevin Shields, chairman and CEO, Griffin Capital Corp., has been named chairman-elect for 2014, and will be the chairman of the association in 2015. The organization has also added six new members to the board.

The new board members are: Martel Day, founder and principal, NLR Advisory Services LLC; Robert Franklin (Frank) Muller, Jr., CEO, Behringer Securities; Ella Shaw Neyland, president, Steadfast Income REIT; Ryan Parker, executive vice president of investment and planning solutions, LPL Financial; Mitchell Sabshon, CEO, Inland Real Estate Investment Corp.; and Thomas Sittema, CEO, CNL Financial Group.

Smith Named Head of Sovereign Wealth Funds for MassMutual Asset Management Companies

Baring Asset Management, Babson Capital and OFI Global Asset Management, the asset management companies of Massachusetts Mutual Life Insurance Co., recently announced the appointment of Gary Smith as Head of Sovereign Wealth Funds and Official Institutions.

In this new role, Smith will work across the distribution networks of the affiliated firms of Barings, Babson and OFI Global Asset Management to "maximize the potential for this important channel," MassMutual said. Smith is based in London and has a reporting line into all three businesses.

Smith, who has more than 25 years’ experience, joins the group from BNP Paribas Investment Partners, where he worked for five years, most recently as Global Head of Official Institutions. In this role he was responsible for managing the relationship with a variety of institutional clients, including central banks and sovereign wealth funds and all partners within the group. Prior to this he held positions with BNP Paribas Group, Morgan Stanley, Merrill Lynch and Greenwell Montagu.

Heather Nesle Joins New York Life Foundation

New York Life announced that Heather Nesle has joined the company as president of the New York Life Foundation. She also has been elected a vice president of New York Life. She reports to Frank Boccio, executive vice president and chief administrative officer, and replaces Christine Park, who has retired from the position. Nesle is responsible for managing the company’s philanthropic and volunteer activities. She also oversees The New York Life Foundation and Corporate Responsibility, the unit active in focusing employee volunteer activities.

Prior to joining, Nesle most recently served as vice president, corporate sustainability at HSBC Bank USA. Prior to that, she served in various roles at Fannie Mae, most recently as senior capital markets manager, as well as senior communications manager, and information architect.

Doyle Appointed by Capital One Bank

Capital One Bank has announced the appointment of Patrick Doyle as senior wealth and asset management specialist for the Dallas market. In this newly created role, he will be responsible for growing the firm's wealth management business and managing client relationships in the area.

Doyle joins from BBVA Compass Bank in Dallas, where he served in a business development role for its wealth management business. Prior to Compass, he spent 28 years at Bank of America, most recently as a regional executive for the Great Lakes region of U.S. Trust Bank of America Private Wealth Management.

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