June 12, 2006
Keefe, Bruyette Names Roth CEO of Asset Unit
Keefe, Bruyette & Woods has named Peter E. Roth chief executive officer of its asset management division, KBW Asset Management. The new position is a promotion for Roth, who has headed KBW's insurance investment banking practice for the past three years, handling nearly 100 transactions worth $30 billion.
Before joining the company in 2003, he spent more than 15 years at Fox-Pitt, Kelton, his last position as head of investment banking, Americas.
"Peter has a proven track record of building businesses," said John Duffy, chairman and chief executive officer of KBW. "With 25 years of experience in the financial services sector, he is uniquely qualified to lead KBW Asset Management into new and profitable areas."
Roth commented: "It's an exciting time as we look to grow the asset management business. Our goal is to develop a wide range of products that provide best-in-class returns. We're looking at opportunities in equity, debt and private equity, both here and abroad."
Kinzler Joins John Hancock As Vice President, Counsel
John Hancock Funds has hired Thomas Kinzler as vice president and counsel, in charg.e of overseeing the legal team supporting the company's mutual funds and board of trustees. He reports to John Danello, vice president and chief counsel for the U.S. wealth management group of John Hancock Financial Services.
"As John Hancock Funds continues the rapid expansion of our fund family to include the lifestyle funds, rolled out in late 2005, and with the imminent launch of our GMO sub-advised funds, it is important for our organization to have Tom Kinzler's depth of experience in the world of investment products and retirement services," said Keith F. Hartstein, president and chief executive officer of John Hancock Funds.
Kinzler spent the previous 15 years at Massachusetts Mutual Life Insurance, most recently as the head of a 10-person legal department. Before that, he worked for law firm Buchanon, Ingersoll and as a tax accountant at Deloitte Haskins & Sells.
Donahue Elected President,CEO of Depository Trust
The board of directors of Depository Trust & Clearing Corp. has elected to promote Donald F. Donahue from chief operating officer to president and chief executive officer, effective Aug. 1. He will be taking the position of Jill M. Considine, who has decided to step down but who will continue serving on the board.
In his new role, Donahue will also continue serving on the board and become president and CEO of DTCC's three main subsidiaries, the National Securities Clearing Corp., The Depository Trust Co. and the Fixed Income Clearing Corp.
Replacing Donahue as COO will be William B. Aimetti, currently chief information officer. In addition, he will become executive managing director and COO of NSCC and DTC.
"DTCC's role in the financial securities industry is to ensure safety and soundness in the post-trade clearance and settlement of securities transactions," Considine noted. "Last year, we settled in excess of $1.4 quadrillion. Considering the critical nature of what we do, it's prudent to have a succession plan that positions the organization for the future."
Donahue has served at DTCC for the past 20 years, including as head of the organization's customer marketing and development division.
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