December 15, 2003
Buchanan Leaves Janus Sohn, Smith Promoted
Michael Buchanan, the Janus High-Yield Fund portfolio manager, said he is quitting after a mere five months on the job. Originally Buchanan came to Janus Capital from New York-based investment firm BlackRock to replace Sandy Rufenacht as manager of the fund. Buchanan will leave the firm Dec. 19 and will be replaced by Gibson Smith, manager of Janus' short-term bond products and assistant portfolio manager of the Janus Flexible Income Fund. Smith will continue to run the Janus Short-Term Bond portfolios.
Janus' High-Yield fund is one of the funds the firm said allowed timing in the past, but Buchanan's departure has nothing to do with the ongoing investigation by New York Attorney General Eliot Spitzer, according to the firm.
The Denver-based fund complex also said that Minyoung Sohn, assistant portfolio manager of the Janus Growth and Income funds and Janus Mercury Fund, will replace David Corkins as the portfolio manager of the Janus Growth and Income funds, effective Jan. 1. Corkins will remain manager of the Janus Mercury Fund.
"This is a well-deserved promotion and a natural progression for Min," Corkins said. "Working side by side for the last five years, I've seen firsthand how Min's stockpicking prowess has been a real asset to the fund. During that time, Min has honed his portfolio-management skills to the point where he's clearly proven he can deliver for shareholders."
Gartmore Adds Knight As Senior PM and VP
Gartmore Global Investments, which leads the U.S. arm of Gartmore Group, has hired Gil Knight as vice president and senior portfolio manager. Knight will be based in suburban Philadelphia and will report to the firm's global chief investment officer of equities, Young Chin.
Knight will manage the U.K.-distributed retail product, the Gartmore Govett U.S. Opportunities Fund, and the equivalent U.K. offshore product, the Gartmore Govett GSIL U.S. Growth Fund.
Prior to joining Gartmore, Knight served as the managing director and senior portfolio manager of MTB Investment Advisers. His responsibilities there included management of several institutional portfolios as well as the MTB Small Cap Growth Fund. Knight was also a vice president of the Equity Group of ASB Capital Management in Washington.
"Gil Knight brings to Gartmore an admirable investment track record and deep expertise in the markets in which he invests," said Chin, in a statement. "Investors in his portfolios will benefit from the peerless research and analytical support that the Gartmore platform provides."
Thomas Weisel Recruits Ex-Putnam Executive
Glenn J. Hill joined Thomas Weisel Asset Management recently as the director of sales and marketing, the firm said. Based out of the firm's Boston office, Hill is responsible for marketing all of the firm's products, including its U.S. and international value strategies, hedge funds and distribution management.
Hill previously worked at Putnam Investments as a senior vice president responsible for marketing to large public, corporate and endowment/foundation funds. Before that he served as a senior vice president at Baring Asset Management and focused on institutional asset management products. Additionally, he was the president and a director of Baring Investment Services.
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