June 21, 2004
Janus Hires Zimmerman to Head Institutional Sales
Janus Capital Group has named John Zimmerman, 41, the new head of its institutional sales team. Zimmerman assumed the responsibilities previously held by Lars Soderberg, who recently agreed to take a leave of absence.
The Denver firm said in April that it was evaluating Soderberg's role in light of an ongoing probe into mutual fund trading practices. Soderberg is executive vice president of institutional services, while Zimmerman, former executive at Banc of America Capital Management, will take on the new post of senior vice president of institutional services.
The company maintains that Zimmerman is not a replacement for Soderberg, who has been responsible for overseeing sales to big institutions such as pension funds, insurers and 401(k) retirement plans. Zimmerman will also handle money market funds, the company said.
Schonfeld, Gillette Named Regional Directors at SEC
The Securities and Exchange Commission has named Mark Schonfeld regional director of its Northeast regional office and Merri Jo Gillette as regional director of its Midwest regional office.
Schonfeld, who replaces Wayne Carlin, will take over a post responsible for overseeing the Commission's offices in New York, Boston and Philadelphia. The region also has enforcement and examination programs in 13 states and Washington.
Schonfeld, currently an associate regional director for enforcement in the Northeast region, has been co-managing a team of lawyers, accountants and investigators tasked with tracking and prosecuting securities fraudsters, including mutual fund trading practices, accounting fraud, insider trading, broker/dealer practices and Internet fraud.
As co-head of enforcement in New York for the last three years, he was responsible for leading the staff in bringing several of the SEC's biggest cases, including the $600 million market-timing settlement with Alliance Capital Management.
Merri Jo Gillette, the new regional director of the SEC's Midwest regional office, is a veteran of the agency since 1986. She will oversee both enforcement and examination programs in the region, made up of nine states.
Her many accomplishments include a financial fraud case against the largest non-profit healthcare firm in Pennsylvania and $71 million fraud case against an investment adviser who reinvested munis bond proceeds on behalf of local school districts. Gillette succeeds former director Mary Keefe, who has also decided to head for the private sector. She is expected to assume the position in late June.
AXA Advisors Names New Retail Distribution Head
AXA Financial has named company veteran Robert S. Jones executive vice president and head of retail distribution for AXA Advisors.
Jones was most recently AXA Advisors' regional president in New York. In his new role, Jones is responsible for overseeing the company's retail sales force, including 6,100 financial professionals and 60 branch offices across the country and Puerto Rico.
"Bob's history with the company and deep knowledge of the industry complements the company's advice-driven business strategy," said Christopher "Kip" Condron, AXA Financial's president and CEO. "His proven leadership and sales experience will be instrumental in providing the highest-quality service to our associates and clients."