November 14, 2005
Hughes Becomes President, COO at Clinton Group
Clinton Group has recruited Thomas Hughes, the former global chief executive officer of Deutsche Asset Management, to join the firm in the newly created position of president and chief operating officer. Hughes is in charge of overseeing Clinton's operational divisions, consisting of legal, compliance and strategy, while at the same time helping to grow business for the firm.
Before he joined Deutsche Asset Management, Hughes was with Merrill Lynch for 17 years, holding various senior management positions, including managing director and head of global securities financing.
Anson to Leave CalPERS To Become Hermes CEO
Mark J.P. Anson, the chief investment officer of the California Public Employees' Retirement System (CalPERS), has accepted the position of chief executive officer at Hermes, the London-based fund-management firm. He will take on the role in the beginning of next year.
At CalPERS, Anson oversaw a 200-member investment staff and implemented investment strategies for the overall asset allocation, public and private equity, fixed income and real estate investments. During his years at CalPERS, the fund he oversaw grew by approximately $69 billion, and as a result, he helped to reduce the contributions of both employers and taxpayers.
"Mark did a spectacular job for us during some of the most difficult periods in our financial markets," said Rob Feckner, president of the CalPERS board of administration. "His performance over the last four years has helped ensure the retirement security of all of our members."
Anson joined CalPERS in 1999 as senior principal investment officer for the system's domestic equity program. In 2001, he was promoted to CalPERS CIO.
"We are going to miss Mark, but wish him well in his new career," said Charles P. Valdes, chairman of the CalPERS investment committee.
Top Vanguard Manager Kaplan to Retire in June
The Vanguard Group announced that Paul D. Kaplan, portfolio manager of Vanguard GNMA Fund and co-manager of Vanguard Wellington Fund, will retire on June 30, 2006.
Kaplan is also the senior vice president and partner at Wellington Management Co., which advises 16 Vanguard mutual funds and annuity portfolios.
"For more than a decade, Paul has ably managed two of Vanguard's largest funds, guiding them through challenging market environments and delivering superior returns for our shareholders," said Vanguard Chairman and CEO John J. Brennan.
Kaplan joined Wellington Management in 1978, and has been managing the Vanguard GNMA Fund as well as the fixed income segments of both the Vanguard Wellington Fund and the Balanced Portfolio of the Vanguard Variable Insurance Fund since 1994.
Kaplan's replacement for the GNMA Fund will be Thomas L. Pappas, who brings 18 years of experience in investment management to Vanguard. Pappas joined Wellington Management in 1987 and has worked on the fund's portfolio management team since 1994. He is currently a senior vice president at Wellington.
John C. Keogh will take over the fixed income portions of the Wellington Fund and the Balanced Portfolio. Keogh has 26 years of experience in his field and is a senior vice president and partner at Wellington Management, where he has served for the past 22 years.
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