April 23, 2007
Expert Bond Guru Speaker Leaving Janus Capital
Ron Speaker, who was with Janus Capital for two decades and has run the $757 million Janus Flexible Bond Fund since 1992, is leaving the firm in June. At that point, Gibson Smith and Darrell Watters will co-manage the fund.
Returning an average of 6% a year over the past 10 years, the Janus Flexible Bond Fund ranks within the top third of its peers.
A company spokesman said Speaker is leaving to "pursue new personal and business interests" but won't be joining a competing firm.
Egan Joins T. Rowe Price As Retirement Plan Chief
Cynthia L. Egan will be joining T. Rowe Price Group on May 14 as president of its retirement plan services subsidiary, which serves 2,900 plans with more than 1.5 million participants. Prior to joining T. Rowe Price, she was executive vice president of Fidelity Investments, where she most recently oversaw the firm's global retirement service practices with an eye to innovation. She also developed and launched Fidelity's line of retail and institutional post-retirement products, known as Fidelity Retirement Income Advantage.
During her tenure at Fidelity, she also served as executive vice president of Fidelity Institutional Tax-Exempt Services Co. and as president of the Fidelity Charitable Gift Fund, which, under her tenure, became the nation's second-largest public charity.
Before joining Fidelity in 1989, she was vice president of large plan defined contribution services for Bankers Trust and manager of financial services consulting for KPMG Peat Marwick.
"We are delighted to have someone of Cynthia's caliber and experience join us as we continue to reinforce our leadership position in retirement planning and the defined contribution industry," said T. Rowe Price Vice Chairman Edward C. Bernard. "Her client-centered leadership, deep experience as a retirement services industry thought-leader and success in developing innovative products and services to help active and retired employees meet their retirement goals, will be tremendous assets to T. Rowe Price and to our clients and plan participants."
Gillette Joins CRM Firm Satuit Technologies as VP
Dale S. Gillette has joined Satuit Technologies, a firm that offers client relationship management and sales force automation solutions, as vice president of strategic relations. He was previously a systems manager in the information services division of Wellington Management, supporting the institutional relationship management, marketing and business development teams in three offices in the U.S. and five offices abroad. Before that, he held a number of management positions with Putnam Investments, Bankers Trust, Chase Manhattan Bank, Security Pacific National Bank and State Street Bank.
Gabelli Hires Campbell, Rainey as Marketing Execs
Gabelli Funds has hired Brian A. Campbell and Chris Rainey as regional vice presidents and external wholesalers. Both were previously wholesalers with Enterprise Fund Distributors. Campbell will sell mutual funds, separate accounts and alternative investment products in Tennessee, Kentucky and Ohio, while Rainey will focus exclusively on mutual funds in Florida.
"We are delighted to have Brian and Chris on our client marketing team to help expand our distribution," said Mario J. Gabelli, chairman and CEO of GAMCO Investors. "Their collective experience along with their extensive relationships will add significant value.
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