April 4, 2005
Eggers Returns to Dreyfus
Thomas F. Eggers, who worked for Dreyfus from 1996 until 2002, serving most recently as president, has rejoined the company, again as president, effective last Friday.
Eggers returns to Dreyfus from Scudder Investments, where he had served as president and chief executive officer since May 2002. He replaces Michael G. Millard, who is remaining with the company to help Eggers through the transition.
In addition to serving as president, Eggers is expected to be tapped as chairman and chief executive of Dreyfus Service Corp. and a member of Dreyfus' board of directors.
Fidelity Names Shelon Freedom Fund Skipper
Fidelity Investments has named Jonathan Shelon co-portfolio manager of the Fidelity Freedom funds. In his new position, Shelon will work alongside current portfolio manager Ren Cheng.
Shelon already serves as co-portfolio manager of the Advisor Fidelity Freedom funds, as well as associate portfolio manager of Fidelity's 529 college-savings plans for New Hampshire, Massachusetts and Delaware. He has been with Fidelity since 2001.
Ibbotson Associates Recruits Idzorek as Research Director
Tom Idzorek, formerly of Zephyr Associates, has been tapped as research director of Ibbotson Associates. In this spot, he will manage Ibbotson's research department, oversee research projects and help develop the company's products and services.
At Zephyr, Idzorek worked as a senior quantitative analyst and researcher, where he helped develop initiatives that wound up in the company's portfolio analytics software. Included in that was his work as co-developer of the style drift score, which was published in the Journal of Portfolio Management.
PFPC Consolidates Units, Placing Kehoe in Key Post
PNC Financial Services Group subsidiary PFPC has consolidated its U.S. and international alternative investment subsections into one, naming Joan Kehoe, the current president of PFPC International, to head up the combined unit. Jeanne Grant, head of the U.S. alternative investment group, will now report to Kehoe.
The company said the consolidation was decided upon so it could better coordinate its global services.
During her time at PFPC, Kehoe has helped unveil an office suite for European asset managers, both traditional and alternative, that allows them to access information and monitor trade flows remotely. She is a member of PFPC's executive counsel, and has served for 20 years in the mutual fund industry.
DeRemer Joins Putnam's New Investment Bank
Grail Partners, the new investment bank formed by Don Putnam, has named as a partner industry veteran Darlene T. DeRemer. DeRemer most recently worked as a managing director for the investment bank Putnam Lovell NBF Securities.
DeRemer will join Putnam, who left his position as chief executive of Putnam Lovell in February to form Grail Partners, where he serves as managing director. Putnam Lovell was bought in 2002 by National Bank Financial, a subsidiary of National Bank of Canada.
DeRemer has worked at State Street Corp., T. Rowe Price Group and Tiger International during her career.