February 28, 2005
Russell Taps Romberger, Highland, Day as Directors
Multi-manager investment firm Russell Investment Group has hired three new regional directors in charge of working with registered investment advisers: Matthew Day, Timothy Highland and Russell Romberger.
Most recently, Day worked at Schwab Institutional as vice president of sales. Highland comes to Russell after a five-year stint at Strategic Asset Advisors, a company he founded and presided over as president. Romberger most recently worked as regional director of SEI Investments. With these new hires, Russell's investment group now has a total of six directors, who work with more than 250 financial intermediaries in the country.
Adams Becomes Munder's Chief Investment Officer
John Adams, a 21-year veteran of Munder Capital Management, has been promoted to chief investment officer of equities. In addition to claiming his new post, Adams will remain in his position as senior portfolio manager of the firm's large-cap value and core value products. Adams is credited with having repositioned Munder's research staff to work with individual investment teams, allowing for greater concentration in certain specializations.
Phalen Rejoins State Street
James S. Phalen is leaving his position as chairman and chief executive of State Street subsidiary CitiStreet to rejoin the parent company as executive vice president of the North American investment servicing group. Replacing Phalen as chairman and CEO of CitiStreet is Phillip Lussier. Also, James Murphy will now become president of CitiStreet.
Phalen used to serve as head of State Street's benefits services wing, but left to become chairman and CEO of CitiStreet in 2000 when the company was founded as a joint venture of State Street and Citigroup.
Lussier has been president of retirement services for State Street, and Murphy senior vice president of retirement services. Phalen, who will assume his new position on March 1, will remain on the CitiStreet board.
Larson-Hughes Rejoins kasina Consultancy Team
Financial services strategy firm kasina has hired industry veteran Robert Larson-Hughes as a principal. The move is a somewhat full-circle one for Larson-Hughes, who worked with kasina founder and Chief Executive Steven Miyao to manage the financial institution research that ended up forming kasina. Most recently, Larson-Hughes worked as a partner at the accounting and consulting firm RSM McGladrey, where he led the development of the company's global e-business. He has also worked for IBM.
MainStay Appoints New Regional Vice Presidents
MainStay Investments has named Skip Chandler, Chris Fiacco, Robert Finley, Sandy Hornor, and David Zander as regional vice presidents of sales. In addition, New York Life's MainStay division has hired 14 new executives in the past nine months.
Chandler will handle the southern Texas and Louisiana regions; Fiacco will take care of Delaware, Eastern Pennsylvania and Eastern Maryland; Finley Northern Texas; Hornor Western Maryland, Washington and Virginia; and Zander gets Texas, Louisiana, Arkansas and Oklahoma.
"Each has a stellar background for this business and brings tremendous energy and professionalism to their work," said Chris Blunt, MainStay's president.