PIMCO announced that Mohamed El-Erian, who returned to PIMCO in January 2008 from Harvard University’s endowment fund, was elected to serve as the firm’s CEO upon the retirement of long-time CEO Bill Thompson at the end of this year. El-Erian will also continue his role as co-CIO of PIMCO with bond king Bill Gross.
Investors Capital Holdings, the publicly traded parent company of independent broker/dealer Investors Capital Corp., has named Tim Murphy president and CEO. He replaces Ted Charles, who will remain chairman of the parent company’s board.
Furthering its efforts to bulk up its D.C. staff, the CFP Board announced two new hires on September 4: Steven Barkley is now director of examinations and Patrick Cuddy is director of professional alliances for the planner certification body.
LPL Financial appointed Robert Moore as CFO, succeeding Bill Maher. He assumes his new post on September 2 and will report to chairman and CEO Mark Casady. Moore joins LPL from ABN AMRO North America and LaSalle Bank Corporation, where he served as CFO and CEO
Hartford Investment Management Company, a subsidiary of The Hartford Financial Services Group, Inc., named Greg McGreevey CIO for insurance portfolios.
Craig Stearns has joined Lenox Advisors as a senior VP in the firm’s Stamford, Connecticut, and New York offices.
The Penn Mutual Life Insurance Company has named Jeffrey Carleton as head of the company’s Independence Financial Network, assuming the title of senior VP for independent distribution.