December 12, 2013

New Hire Roundup: American Century Names New Co-CIOs

Rep. Watt to head Federal Housing Finance Agency; more

This week in personnel announcements and new hires, Sebastian Gomez Abero was named by the Securities and Exchange Commission to head its Office of Small Business Policy; Rep. Mel Watt, D-N.C., won Senate confirmation as director of the Federal Housing Finance Agency; Nicholas Lance joined OneAmerica; and Benton Reichenau joined U.S. Bank Wealth Management in Minneapolis.

Also, Salient Partners acquired Teton Strategic Investments; SSgA welcomed Mark Fortier; and Victor Zhang and David MacEwen were named co-CIOs at American Century Investments.

Victor Zhang and David MacEwen Named Co-CIOs at American Century

American Century Investments announced Wednesday that Victor Zhang and David MacEwen have been named co-CIOs for the firm. As joint heads of the investment management group, Zhang and MacEwen will serve on the company’s management committee and report to Jonathan Thomas, president and CEO. In terms of investment discipline responsibilities, Zhang will oversee the equity discipline CIOs who have day-to-day responsibility for the global and non-U.S. equity, U.S. growth equity (large-cap and mid- and small-cap), U.S. value equity and disciplined equity and asset allocation teams. MacEwen will lead the company’s global fixed income operation, which includes U.S. and non-U.S. capabilities in the areas of government bonds, corporate debt, municipal bonds and money market funds. Zhang’s appointment is effective February 17. He will be based at the firm'sKansas Cityheadquarters. MacEwen’s promotion is effective immediately and he’ll remain at theMountain View, Calif., offices.

Zhang comes from Wilshire Funds Management, where he spent eight years and most recently was president and CIO. Previously, he served as director of investments and held other senior investment positions with multi-family office firm Harris myCFO Investment Advisory Services, a subsidiary of Bank of Montreal. Earlier in his career, he was a consultant with Ernst & Young, LLP.

MacEwen has been serving as CIO over American Century Investments’ fixed income strategies since 2001. He joined in 1991 and has worked in the financial industry since 1982. Prior to joining, he was vice president of portfolio management for Provident Institutional Asset Management Corp. (currently BlackRock Advisors LLC). Previously, he was a trust investment officer for Bank of Delaware (currently PNC Wealth Management).

SEC Taps Gomez to Head Small Business Policy Office

The SEC announced Monday that it has named Sebastian Gomez Abero as chief of its Office of Small Business policy. He succeeds Gerald Laporte, who retired in July after holding that office for more than a decade. The appointment is effective immediately.

Gomez previously was a special counsel in the Office of Chief Counsel of the SEC’s Division of Corporation Finance. He joined the SEC in August 2007 as a staff attorney in the division’s Office of Health Care and Insurance and was a special counsel in the division’s Office of Financial Services from April 2011 to April 2012. He also assisted with the SEC’s Life Settlements Task Force and with a team that provided technical assistance on derivatives as Congress drafted the Dodd-Frank Wall Street Reform and Consumer Protection Act. Before coming to the SEC, Gomez was an attorney at the law firm Hogan & Hartson LLP.

Watt Confirmed by Senate to Head Housing Finance Agency

Rep. Mel Watt, D-N.C., was confirmed Tuesday by the Senate as director of the Federal Housing Finance Agency. He will succeed Acting Director Edward DeMarco.

Watt, a congressman since 1992, has been a member of the House Financial Services Committee, its Capital Markets and Government Sponsored Enterprises Subcommittee and the Financial Institutions and Consumer Credit Subcommittee. He has also been a member of the House Judiciary Committee and the ranking member of its Intellectual Property, Competition and the Internet Subcommittee. He served as chairman of the Congressional Black Caucus from 2005 to 2006. Prior to his congressional terms, he also served in the North Carolina Senate and earlier as mayor of Charlotte. Before that he practiced law in Charlotte.

OneAmerica Welcomes Nicholas Lance

OneAmerica announced Monday that Nicholas Lance has joined its companies in the newly created position of vice president, retirement income strategies. In this role, in addition to leading the firm's new Retirement in Motion initiative, he will also lead its customer data strategy, which will build internal technologies and business capabilities to educate consumers about the importance of retirement planning and the solutions available to them.

With 24 years of domestic and international experience in the financial services industry, Lance has held a number of executive-level positions with companies such as MetLife and AXA.

U.S. Bank Wealth Management Adds Reichenau in Minneapolis

U.S. Bank Wealth Management announced Monday that Benton Reichenau has joined the firm in Minneapolis as head of wealth management product services. In this role, he will be responsible for all product management for banking, wealth planning, and investment management and trust across the firm's three business lines: the Private Client Group, the Private Client Reserve and Ascent Private Capital Management of U.S. Bank. He will report to Gailyn Johnson, chief operating officer for U.S. Bank Wealth Management.

Reichenau has more than 19 years of experience in the financial services industry and joins from Ernst & Young’s San Francisco office, where he was a principal and worked as leader of the West Coast financial services office performance improvement consulting practice. Prior to that, he was senior vice president for Wells Fargo, where he served as the head of investment management and trust products and services for the wealth management group. Prior to Wells Fargo, he was a managing director in the financial services practice of Bearing Point. He also previously worked with Merrill Lynch as a financial advisor.

Salient Partners Acquires Teton Strategic Investments

Salient Partners L.P. announced Tuesday that under its wealth advisory business it has acquired Houston-based Teton Strategic Investments Inc. to offer private equity opportunities to high-net-worth clients. Teton is heavily focused in the energy and natural resources sector, and has additional experience in the technology, health sciences, growth capital/buyout, secondary and financial services sectors in previous and current PE offerings.

Michael Mithoff has served as president of Teton, which he founded in 2006 to manage his family’s investment office as well as advise a number of other families in connection with portfolio allocation and management, with a particular emphasis on alternative investment strategies. He will assume the role of managing director and head of private investments, and will work closely with Lee Partridge, Salient CIO.

State Street Global Advisors Appoints Mark Fortier

State Street Global Advisors (SSgA), the asset management business of State Street Corp., has announced the appointment of Mark Fortier to managing director, head of global defined contribution research and product development. In this position, he will be responsible for developing products that anticipate plan sponsor needs and will work closely with the firm's investment teams to bring new defined contribution products to market globally. He will be based in Bostonand report to Fredrik Axsater, managing director and global head of defined contribution at SSgA.

Fortier joins from Alliance Bernstein, where he most recently served as head of product and partner strategy. Prior to Alliance Bernstein, he worked at Aegon for more than 20 years in a variety of senior roles in their retirement business.

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