May 30, 2005
Wilmington Trust Taps Sanford as President
Gregory F. Sanford has been hired as president of Wilmington Trust FSB California. The wealth advisory firm said the move was part of its continued effort to stretch out farther into Southern California.
Sanford will head up Wilmington's wealth management business in all the Western U.S., including advisory services for high-net-worth clients and the region's prominent foundations. Wilmington moved its western headquarters to Los Angeles and acquired a Beverly Hills-based high-net-worth business management firm, Grant Tani Barash & Altman.
Sanford will report to Peter Atwater, head of relationship management for the company's national wealth advisory business.
Formerly, Sanford served for eight years as chief executive for the western region at U.S. Trust. Before that, Sanford worked as vice president at Security Pacific Bank, before the company was acquired by Bank of America. He has also held posts in the brokerage industry, and served in leadership positions with Southern California non-profit and civic associations.
TIAA-CREF Names Wilcox Corporate Governance Head
TIAA-CREF has hired John C. Wilcox as senior vice president and head of corporate governance. In his new post, Wilcox will be charged with monitoring governance procedures at companies TIAA-CREF invests in, as well as making sure that TIAA-CREF itself adheres to the same governance standards the company expects out of the firms in its portfolio.
Wilcox, who is replacing the retired - but still advising - Peter Clapman, will report to Executive Vice President and General Counsel George Madison.
Most recently, Wilcox worked as vice chairman for Georgeson Shareholder Communications, where he worked for 31 years. He specialized in corporate governance, advised clients on control contests, and performed other duties.
TIAA-CREF also announced that Hye-Won Choi, director of corporate governance and senior counsel, has been promoted to work on international corporate governance issues, in addition to still advising the company on other corporate governance matters.
Also on the TIAA-CREF governance team is Linda Scott, who will continue to focus on domestic governance but will also now be in charge of proxy voting.
Franklin Names Embler CIO Franklin Mutual Advisers
Franklin Templeton Investments has promoted Michael Embler to chief investment officer for its Franklin Mutual Advisers unit, also called Mutual Series. Previously, Embler headed up that wing's distressed securities unit.
Embler, a 14-year industry veteran, has worked at Mutual Series the past four years, and managed the Mutual Recovery Fund since its introduction in 2003.
Before joining Mutual Series, Embler worked as a portfolio manager of a special situation investment fund at Nomura Holding America, where he worked from 1992 to 2001. Before that, he was a vice president at Dow Jones Federal Filings, where he co-founded The Daily Bankruptcy Review.
The company also announced some portfolio management moves; Embler will manage the Mutual Beacon Fund; Shawn Tumulty will co-manage (with Embler) the Mutual Recovery Fund and head up the distressed securities team; President and Chief Executive Peter Langerman will manage the Mutual Shares Fund; and Mutual Qualified Fund manager Anne Gudefin will now manage the Mutual Discovery Fund.
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