February 13, 2006
Wilmington CEO Named To Federal Advisory Council
Wilmington Trust's chairman and chief executive officer, Ted T. Cecala, has been asked to serve on the Federal Advisory Council, which consults with the Federal Reserve Board of Governors on regulatory issues facing the financial services industry, the health of the industry and the national economy, and other financial matters. Cecala was asked to serve as a representative since he represents the Philadelphia Federal Reserve Bank and the Third Federal Reserve District.
"I am honored to represent the Philadelphia Fed and the Third District on the Federal Advisory Council," Cecala said. "I look forward to serving with other members of the Council and providing the Fed's board of governors with guidance on important economic and policy issues."
Morningstar Reassigns Five on Mutual Fund Team
Morningstar has reassigned five key analysts in its mutual fund division. Kunal Kapoor, who was director of mutual fund analysis, is now head of its international business unit, charged with expanding business outside the U.S. Christine Benz, formerly associate director of mutual fund analysis, has been promoted to fill Kapoor's previous position. She had also worked as editor of Morningstar Mutual Funds and Morningstar Funds 500.
Dan McNeela now becomes editor of Morningstar Mutual Funds and associate director of fund analysis. He will specialize in Janus, Putnam, real estate funds and hedge-like mutual funds.
Christopher Traulsen is now head of mutual fund analysis for Morningstar UK. He was previously editor of Morningstar Fidelity Investments Fund Family Report.
Hancock Promotes Refior To VP, Head of Bank Sales
John Hancock, a division of Manulife Financial, has hired Mary M. Refior as vice president and national accounts manager for its bank channel.
Refior, who has 18 years of experience in bank investment sales programs, was a first vice president and regional sales manager in Hancock's Midwest region.
In her new role, she will try to establish bank relationships or deepen relationships with existing bank key accounts that offer Hancock's wealth management products, including variable and fixed annuities, mutual funds, 529 plans and pension products.
Refior has been with Hancock since 1999, when Hancock bought Essex Corp. to expand its bank distribution. She had worked the previous four years in Essex's Midwest unit.
Goldman Sachs Completes Expansion of Sales Team
Goldman Sachs Asset Management (GSAM) has completed expansion of its sales team serving the broker/dealer channel. Over the past six months, GSAM has recruited more than 40 people to join its investment consulting group, which manages the Goldman Sachs family of 40 mutual funds and five separately managed account strategies. The division now consists of 80 professionals.
"We have continued to invest in this business in anticipation of greater demand from financial institutions that are looking for best-of-breed asset managers," said Scott Coleman, a managing director with the division. In particular, GSAM has seen strong growth in SMA sales. "This growing separate account business complements our mutual fund business and offers other firms the ability to include more Goldman Sachs products in unified accounts, which continue to grow in popularity."
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