June 14, 2004
Waddell & Reed Promotes Sundeen, Hires Connealy
Kansas-based Waddell & Reed Financial said Senior Vice President and Chief Financial Officer John E. Sundeen, Jr. has been promoted to executive vice president and chief administrative officer for the investment management division. The firm also tapped former Stilwell Financial CFO Daniel P. Connealy as senior vice president and chief financial officer.
Sundeen, a Waddell & Reed lifer who has worked at the company since he was 22 years old, will report to President and Chief Investment Officer Henry J. Herrmann and be in charge of administration and operations. Connealy, who in his 35 years of financial services experience has also served as a partner at PricewaterhouseCoopers, will use his auditing and accounting experience to oversee the company's financial dealings.
Hancock's Shepherdson Now Fund Chair, CEO
James A. Shepherdson, who headed up John Hancock Financial Services' retirement services division, has been named the company's chairman, chief executive officer and president of mutual funds.
Shepherdson replaces Maureen Goldfarb, who had been CEO since 2000. Goldfarb had announced her departure following the completion of Hancock's merger with Manulife Financial. The Manulife unit will be a main component of Shepherdson's new responsibilities, as will the John Hancock Funds. "The merger combines two exceptionally strong companies into a single, integrated, global market leader whose scale and capital will serve to strengthen our company's leadership in markets around the world," Shepherdson said. "I am looking forward to continuing to grow John Hancock Funds."
Before joining Hancock in 2003, Shepherdson was co-CEO at MetLife.
Babson Taps Carstens As Client Service Officer
David L. Babson & Co. has hired Linda Carstens, formerly a senior vice president with State Street Research & Management, as a client service officer.
Before her nine-year run at State Street, Carstens worked at Mellon Bank as a chemicals technical director. In her new position, Carstens will specialize in corporate pension, endowment and foundation relationships.
Babson Chief Operating Officer Bill Glavin said the hiring of Carstens is part of a host of recent moves designed to "meet the needs of our rapidly growing asset base." That asset base has risen an average of 10.5% in the past three years. The firm also recently announced the additions of Amanda Grant as head of client services and Mike Kellogg as head of distribution.
MMI Hires Oransky as Member Services Director
Twenty-year financial services industry veteran Arlen Oransky has joined the Money Management Institute as its first full-time director of member services. Oransky has worked in leading positions for, among others, TIAA CREF and Phoenix Investment Partners. Working out of New York, Oransky will be in charge of both recruiting and retaining MMI members. Company membership has grown 10% this year.
"As an industry veteran, Arlen has the knowledge base and enthusiasm to excite and educate the growing membership of the Institute," said Charles Widger, the co-chair of MMI's membership development committee and founder of Brinker Capital.
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