October 11, 2004
TCW Galileo Funds Names Haden Independent Chair
Patrick C. Haden, who has served as a director of the TCW Galileo Funds since May 2001, has been named independent chairman of the fund's board, replacing Marc I. Stern.
Stern will remain as a director and will also serve as the chairman emeritus, an honorary title. Of the eight directors currently on the Galileo Funds board, Haden was one of six who qualified as an independent director. Stern said the move was made because the company is committed to good corporate governance. "We felt it was important to demonstrate that commitment by appointing an independent chairman well in advance of the pending SEC requirement to do so," Stern said. "Pat Haden is a man of exceptional ability and integrity."
Haden, 51, is a partner in the private equity firm Riordan, Lewis & Haden and serves as a chairman of the TCW Convertible Securities Fund.
Tomecek Set to Leave Lockwood Advisors
Chris Tomecek, who helped build Bank of New York subsidiary Lockwood Advisors into a formidable player in the investment research and clearing services sectors, especially in separately managed accounts, has announced he will leave the company. Lockwood, an affiliate of Pershing, said that Tomecek's current duties, which include sales management, marketing and investment services, will be handled by other senior management members.
"Chris Tomecek helped put Lockwood on the map," said founder, CEO and President Leonard A. Reinhart. "His vision, entrepreneurial drive and marketing skills enabled Lockwood to grow into the largest managed account platform serving independent financial advisers. All of us at Lockwood are indebted to Chris for his pioneering spirit and many contributions to our success."
The company did not say why Tomecek is leaving.
Two Banc One Execs Join Federated Global Team
Federated Investors has hired two former Banc One Investment Advisors employees to serve as part of its global equity investment management team. The tapping of William C. Dierker, who will serve as senior vice president and senior portfolio manager, and Stephen A. Crane, who will work as a senior investment analyst, adds 30 years of investment experience to a firm with over $184 billion in assets under management.
Dierker most recently served as portfolio manager of Banc One's One Group Large Cap Value Fund and managing director of the company's value team, while Crane was an equity research analyst focusing on financial services.
Wolin Becomes Pioneer's Chief Compliance Officer
Pioneer Investment Management became the latest company to hire a chief compliance officer ahead of the Securities and Exchange Commission's Oct. 5 mandate to do so, tapping one of its own, Martin J. Wolin, as CCO of both the company and the Pioneer Funds.
Wolin is no stranger to compliance, as he most recently served as director of compliance at Pioneer. The only big change in Wolin's workload, according to Pioneer CEO Osbert Hood, is that his title is more formal and he will work on compliance for the company's funds rather than just the company.
Wolin has been with Pioneer since 2000. Before that, he served as associate general counsel at UAM Fund Services and also spent time at First Union.