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Industry Moves

Founders Asset Management has named Richard W. Sabo as its president and chief executive officer. He was hired from Prudential Securities in New York, where he was senior vice president and regional director, responsible for overseeing sales of the brokerage's proprietary mutual funds as well as third-party portfolios. Sabo succeeds Jonathan F. Zeschin, who left Founders in July and formed JZ Partners, a Denver-based mutual fund consulting company.

R.R. Donnelly Financial announced that Paul A. Masterson was named president of the unit of R.R. Donnelly & Sons. He replaces Rhonda MacQueen, who left the position. Masterson joined R.R. Donnelly in 1983 as a sales representative and has been with the financial business unit since its inception. He most recently served as the unit's senior vice president and director of operations.

Security Benefit Group has hired Kal Bakk as vice president of strategic business development. Bakk has 17 years of experience in the insurance and investment industry, having worked for Prudential, Providian and AEGON.

David G. Peebles has been named senior vice president of equity investments at USAA Investment Management Company. He succeeds Harry Miller, who retired in August after 24 years with the company. Since 1988, Peebles had been the firm's vice president of equity investments, responsible for international funds.

First Data Investor Services Group announced the promotion of Lynn A. Duffy to vice president of the central control group. In the position, Duffy will be responsible for the investment data base, which includes corporate actions, pricing, performance measurement and security master files. Duffy joined First Data nine years ago. Recently, she worked for the systems group within the fund accounting and administration division.

David I. Schachter, a noted authority on closed-end funds, has joined Gabelli & Company to head research coverage in the financial services sector. Schachter is a former vice president of Thomas J. Herzfeld Advisors and was a regular contributor to the firm's publication, The Investor's Guide to Closed-End Funds.

Eaton Vance recently announced the election of Jessica M. Bibliowicz and Lynn A. Stout to the boards of trustees of its mutual funds. Bibliowicz is the president and chief operating officer of John A. Levin & Company, a registered investment adviser. She is also a director of Baker, Fentress & Company which owns the firm. Stout is a professor of law at the Georgetown University Law Center. She is an expert in corporate law, law and economics, international securities markets and securities regulation.