This week in personnel announcements and new hires, Graham E. French resigned as manager of a Vanguard metals fund, and Angelia Shay of New York Life was named president of Women in Insurance & Financial Services.
Also, Hartford Funds hired Joshua West in Southern California, and Penn Mutual announced new positions for Jonathan Self and Michael DePalma.
FSI Adds New Directors, Selects New Board Vice Chairwoman and PAC Chairman
The Financial Services Institute has elected two new directors for its Board for 2014, and elevated two of its directors to new leadership positions. Scott Curtis, president of Raymond James Financial Services and Amy Webber, president of Cambridge Investment Research are now members of FSI’s 16-member board.
In addition to the new directors, FSI also elected Valerie Brown, CEO of Cetera Financial Group, as the new vice chairwoman. Brown will serve a one-year term and then become board chairwoman in 2015. FSI also elected Adam Antoniades, president and CEO of First Allied, to serve as FSI PAC Board chairman. Both of these Board leadership positions roll up to the FSI Executive Committee and will take effect on Jan. 1.
“We are very pleased that our already strong and diverse Board is adding two more industry leaders to its roster,” said Dale Brown, FSI’s president and CEO. “Our advocacy agenda benefits firms and advisors of all sizes and business models, and our Board of Directors continues to reflect that diversity. Our Directors volunteer their time, resources and expertise in support of our mission of advocacy for a healthier, more business friendly regulatory environment for our members and their clients to thrive.”
Vanguard Precious Metals Fund Manager Steps Down
Vanguard announced Tuesday that Graham E. French, portfolio manager of the $2.4 billion Vanguard Precious Metals and Mining Fund, was stepping down from day-to-day fund management responsibilities at M&G Investment Management Ltd., effective immediately.
French managed the Precious Metals and Mining Fund since 1996; before that he had spent five years as assistant manager. French, who joined M&G in 1989, will remain in a consultative role with the fund for the next six months.
Co-manager Randeep Somel, CFA, will assume sole portfolio management responsibilities. Somel joined M&G in 2005, and has worked side-by-side with French for the past five years. M&G expects to name a co-manager in the near future.
Founded in 1931, M&G is based in London and manages more than $300 billion in assets. The firm has served as investment advisor to the Precious Metals and Mining Fund since its inception in 1984, and also oversees portions of the $22 billion Vanguard International Growth Fund, $222.5 million Vanguard Emerging Markets Select Fund, and $2.2 billion International Portfolio of Vanguard Variable Insurance Fund.