March 10, 2008
Principal Funds Names New President
Principal Funds has named Nora Everett as the company's president, replacing Ralph Eucher, who will stay on as CEO and serve as vice chairman of the board. Everett will report to Eucher.
"As president of the funds complex, Nora returns to her roots in our investment operations," Eucher said. "She brings a wealth of investment, regulatory and acquisition knowledge that will benefit our shareholders and our mutual fund business as we pursue future growth."
Everett has been with The Principal since 1991 in mergers and acquisitions, litigation, regulatory inquiries, corporate finance and investments. She most recently served as senior vice president and deputy general counsel at the Principal Financial Group.
Everett received her Juris Doctor degree from the College of William and Mary School of Law and received Phi Beta Kappa honors from Iowa State University.
Wynne Takes Helm of PFPC Investment Services
PNC Financial Services Group Inc. has named Stephen Wynne as chief executive of PFPC, PNC's provider of global investment services.
Wynne will succeed Timothy Shack, who will remain chairman of the PFPC board and will continue to serve as PNC chief information officer, the Pittsburgh bank holding company said.
Wynne has served as president of PFPC since 2005. As CEO, he will oversee information- and transaction-based services for the company's international clients.
Sallie Mae Taps Hewes as Chief Credit Officer
Sallie Mae has appointed John "Jack" Hewes as executive vice president and chief credit officer to oversee the company's private student loan underwriting policies and its credit risk management.
Hewes joins Sallie Mae from a 22-year career at MBNA, the world's largest credit card issuer, where he led the business lending and consumer finance divisions.
"This is a critical role for the company. We enthusiastically add Jack to our executive management team," said Albert Lord, CEO. "Asset quality is key to our success, and Jack has the experience to ensure we grow through sound, profitable lending practices."
In addition to Hewes, Sallie Mae has also recruited Credit Suisse's Jonathan Clark, who will serve as senior vice president of corporate finance.
Clark will lead the company's unsecured debt issuance and treasury operations.
"Jon brings extensive knowledge of our industry and direct experience in student loan financing," said Jack Remondi, vice chairman and CFO. "I am pleased to welcome him to our team."
PrivateBank Names McQueen CEO
PrivateBancorp Inc. has announced that Patrick McQueen will take over as chairman and CEO of The PrivateBank-Michigan.
McQueen will replace David Provost, who resigned March 7 to pursue other interests. McQueen has been with PrivateBank-Michigan since 1999 and previously served as president and chief operating officer.
"Pat's accomplishments at the Bank coupled with his combination of leadership and experience will allow The PrivateBank - Michigan to continue to grow while maintaining our commitment to high quality, consistent client service," said Larry Richman, president and CEO of PrivateBancorp Inc. "I look forward to working with Pat and our growing Michigan team to deliver The PrivateBank's unique, client focused model of relationship banking for the benefit of our clients and the greater metropolitan Detroit community."
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