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Executive Moves


Kelmoore Hires Devine, Shaw, Wooledge as Execs

Kelmoore Investment Co., the Palo Alto, Calif.-based wealth management firm, has named Antoine Devine, Jeffrey Shaw and Catherine Wooledge to its management staff.

Devine, who has spent 20 years in the brokerage industry and 12 years practicing securities and broker/dealer regulation law, will be the firm's chief compliance officer, charged with handling compliance for the company's mutual fund operations. He most recently served as senior counsel for the law firm of Foley & Gardner.

Shaw, who has worked at American Century, Fremont Investors and Security Pacific National Bank since breaking into the financial services industry in 1984, will be Kelmoore's director of performance measurement, a position that will involve coordination with the company's sales teams.

Wooledge will use her 15 years of legal experience at firms such as Franklin Resources and Drinker Biddle & Reath to work as Kelmoore's general counsel. She most recently worked as counsel for Sutherland Asbil & Brennan.

Wolfson, Balentine Get Nod at Wilmington Trust

Robert M. Balentine, the former head of Balentine & Co., has taken over at Wilmington Trust as the head of investment management.

After working at Merrill Lynch, Balentine and his late father founded Balentine & Co., which Wilmington Trust purchased in 2002. He is considered a pioneer in the use of open architecture in order to allocate assets.

Wilmington also announced the hiring of a new chief investment officer, Neil Wolfson. He most recently served as the national partner in charge of both the KPMG Investment Consulting Group and KPMG Investment Advisors.

Also hired from KPMG were Rex Macey, who will be Wilmington Trust's new head of equity management, and Samuel Fraundorf, who will take over as director of manager research.

New York Life Taps Three New Retail Sales Execs

Adding to its sales team, New York Life announced that it has hired Michael Coffey, Phillip Gazzo and Christopher Parisi to direct specific areas of the company's retail investment business.

Coffey, a former director at BlackRock, will be director of distribution strategies, primarily in charge of helping to expand retail sales. Before joining the financial services industry, Coffey, 35, was a pitcher in the Milwaukee Brewers organization. As divisional sales manager of the southern region, Gazzo, a former CEO of VeraVest Investment Advisors, will manage sales of New York Life Investment Management's MainStay Funds, separately managed accounts and CollegeSense 529 plan. Parisi will manage retail sales in NYLIM's Northern region as divisional sales manager. He, like Coffey, is 35 and comes to New York Life from BlackRock.

Babson Capital Appoints Hill Head of Inst'l Sales

Babson Capital Management, based in Cambridge, Mass., has hired 30-year industry veteran Donald R. Hill, Jr. as its new director of institutional sales, the company announced.

Hill, whom Babson Head of Distribution Mike Kellogg called "a seasoned sales professional with a history of delivering sales results," most recently served as a senior relationship manager at Putnam Investments. There, Hill was in charge of 45 institutional accounts.