Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Executive Moves

Friestad Becomes SEC's Assoc. Enforcement Chief

The Securities and Exchange Commission has promoted Scott W. Friestad to associate director of the division of enforcement. In his new post, Friestad will be a senior official assisting in planning and directing the Commission's investigations.

Friestad joined the SEC in 1995 as a staff attorney and has been assistant director in enforcement since July 2000. During his time at the Commission, Friestad has served as a special assistant U.S. Attorney in the southern district of New York's U.S. Attorney's Office.

"Scott Friestad is a creative thinker who has mastered the securities laws," said Stephen M. Cutler, director of the division of enforcement.

Access Data Co-Founder Named President, COO

Access Data Corp. has named Daniel Cwenar, one of the company's co-founders, as president and chief operating officer.

"Dan was instrumental in the conception, development and sales success of our flagship offering, Access Data SalesVision," said Chairman and Chief Executive James J. Dolan. "His thorough understanding of the investment management industry and the technologies that make it run is a tremendous asset for our company."

Throughout his time at Access, Cwenar has helped attract clients like Bank of America, New York Life Investment Management and Charles Schwab.

"As a founder of Access Data, I have worked with all of our clients over the last seven years to create and apply technology solutions to the complex tasks of investment management, sales and compensation management, and regulatory compliance," Cwenar said.

SEC Litigator Pastuszenski Joins Goodwin Procter

Brian E. Pastuszenski, who has worked on many securities class action suits and other shareholder litigation matters, has been hired as a partner by Goodwin Procter.

In his new position, Pastuszenski will work in the corporate and litigation groups. Previously, he worked as a partner at Testa, Hurwitz & Thibeault, where he served as chairman of the securities and shareholder litigation group and co-chaired the corporate finance and securities wing.

One of Pastuszenski's specialties, besides class-action and shareholder litigation, is defending in Securities and Exchange Commission proceedings. He has also worked for companies on internal investigations, as well as on corporate governance and compliance issues. He represents, among others, the National Investor Relations Institute and the New England Legal Foundation.

Armada Names New Fleet For Structured Equity Team

Armada Funds has taken Hitesh Patel, Paul Kleinaitis, Rob Roquitte and Stephen Greiner from Harris Bank, naming the four as the first members of a new structured equity team.

The four will work for Armada Funds advisor National City Investment Management, on an equity team that will manage small- and mid-cap growth portfolios.

Patel, who will serve as director of the new team, said: "We are looking forward to establishing a series of investment products based on our structured approach to portfolio management for National City and its clients."