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Executive Moves

McMahon Chosen to Lead AXA Strategic Initiatives

Andrew McMahon, has been named to lead a new strategic initiatives group of AXA Financial.

In his new position, McMahon will devise and implement specific strategies for both retail and wholesale. McMahon will report to Christopher M. "Kip" Condron, president and CEO of AXA Financial.

"At the outset, a major focus for him will be the continued development of our at retirement' business, in which we are making significant progress," Condron said.

McMahon most recently served as a principal at McKinsey & Co., where he was life insurance practice leader in North America. Prior to McKinsey, McMahon held management positions at General Electric.

Morrison & Foerster Adds Tax Expert Humphreys

Thomas A. Humphreys has been named the head of Morrison & Foerster LLP's federal tax practice group and co-chair of the tax department. With more than 20 years of experience, Humphreys is considered a taxation policy and education expert.

Humphreys' specialty is tax issues that relate to financial products, real estate investment trusts, mutual funds, mergers and acquisitions and international transactions.

"Tom brings us not only deep relationships with the investment banking community but also a record of intellectual leadership among tax practitioners," said Keith Wetmore, chair of Morrison & Foerster.

Humphreys, who is also an adjunct professor at the New York University law school, has served as co-chair of the New York State Bar Association's committee on financial intermediaries and as a member of its tax section executive committee. He is a member of the California and New York state bars.

Fund Skipper Realignment At Delaware Investments

Patrick P. Coyne, managing director and head of equity investments for Delaware Investments, has stepped down as co-manager of several Delaware Investments funds to "focus on other responsibilities" at the company.

He has left Delaware Investments Florida Insured Municipal Income Fund, Delaware Investments Minnesota Municipal Income Fund, Delaware Investments Minnesota Municipal Income Fund II, and Delaware Investments Minnesota Municipal Income Fund III. The funds will be managed by Joseph R. Baxter, Robert F. Collins and Denise Franchetti, who have been serving as co-managers for the funds.

In other news, Jerry Frey will retire as managing director and chief investment officer for growth investing. Marshall Bassett, a 19-year veteran, will assume his duties. Frey will officially retire in September, and in the meantime groom Bassett, with whom he has worked eight years.

Prior to joining Delaware Investments in 1997, Bassett served as a vice president in emerging growth at Morgan Stanley Asset Management, where he analyzed small growth companies.

The company also announced that Steven T. Lampe, who has been with the company's healthcare sector team since 2001, would return to the emerging growth team on the financial services side. He'll now serve as co-portfolio manager of the American Services Fund and the DPT Mid-Cap Growth Equity Fund, among others.