This week in personnel announcements and new hires, the Financial Services Institute named a new board member, Thomas Franco joined Virtus Investment Partners, Kenneth Shimberg went to Mercer, and Dana Mahoney and Christopher Latham joined FiComm Partners.
Also, John Ahearn was elected chair of BAFT’s board of directors, and Tiffany Freitas joined Vestmark.
FSI Elects Commonwealth’s Rooney to Board
The Financial Services Institute announced the election of John Rooney, managing principal of Commonwealth Financial Network, as the newest member of its Board of Directors. Rooney will serve a minimum of three years.
The FSI Board now stands at 16 members, including large, midsize and small independent financial services firms as well as four independent financial advisors.
Franco Joins Virtus
Virtus Investment Partners, Inc. has announced that Thomas Franco has joined as managing director and divisional sales manager. He reports to Barry Mandinach, executive vice president, head of distribution.
Franco joins from UBS Global Asset Management, which he joined in 2001. Prior to that, he was regional sales manager at Phoenix Investment Partners (PXP), the predecessor to Virtus. Earlier he had held the same position at Zweig Mutual Funds, which was acquired by PXP in 1999.
Mercer Adds Shimberg
Mercer Investments has announced that Kenneth Shimberg has joined as U.S. endowment and foundations chief investment officer for outsourced CIO services. He will also serve as chairman of Mercer’s endowment and foundation investment committee. He is based in Boston and reports to Stan Mavromates, Americas CIO for Mercer Investments.
Shimberg joins from Brown University, where he served as an investment office managing director since 2001 and as interim CIO from October 2012 to June 2013. Earlier he served as a principal at the Princeton University Investment Co. He also worked at Nassau Capital, LLC and at J.P. Morgan as a vice president in the structured finance group.