September 15, 2008
Legg Mason Taps Odenath To Head Up the Americas
David R. Odenath has joined Legg Mason as head of North and South American operations, reporting to Chief Executive Officer and President Mark R. Fetting. Responsible for the firm's mutual fund and managed account business, Odenath will also be responsible for corporate marketing and communications and subsidiaries ClearBridge Advisors, Legg Mason Capital Management and Royce & Associates.
Joining from Prudential Financial, where he most recently was president of annuities and co-head of international retirement, he helped the firm integrate American Skandia and Allstate variable annuity businesses. Before that, from 1999 to 2002, Odenath was president of Prudential Investments. He has also held senior roles at Hyperion Capital and Paine Webber.
Odenath is also chairman of the Insurance Marketing Standards Association and on the board and incoming vice chairman of NAVA.
"David's deep industry experience, proven ability to manage large operations and to grow earnings made him a natural candidate for this role," Fetting said. "As we continue the expansion of our products onto third-party platforms and launch new offerings, his expertise in building distribution platforms will be critical."
Oak Value Promotes Phillips to Portfolio Mgr.
Oak Value Capital Management has promoted Christy L. Phillips to portfolio manager on the Oak Value Fund, joining the team of existing managers, Larry D. Coats, Jr. and David R. Carr, Jr.
"I am gratified to be joining Larry and David as a partner on the portfolio management team," Phillips said. "I have very much enjoyed working alongside them on the investment committee because we have such complementary sets of skills. I now look forward to the challenges and opportunities that come with being a co-portfolio manager."
Phillips has been with the firm since 2003, joining as a vice president and senior analyst. She was promoted to senior vice president, director of research and a member of the investment committee in 2006. Before that, she worked for a number of securities and investment firms, including Wachovia, Lehman Brothers, Equitable Securities, Smith Barney, Indepth Research and Coker, Palmer, Phillips & Mullens.
Kilberg Joins Sales Team At MFC Global Investment
MFC Global Investment Management has hired Reid A. Kilberg as a managing director, sales, reporting to Frank Saeli, head of U.S. institutional sales and relationship management.
Kilberg comes to the firm from Sit Investment Associates, where he sold and marketed fixed income strategies to the institutional marketplace. Earlier in his career, he was senior vice president of client services and marketing at Peregrine Capital Management and director of sales and marketing for Compass Capital Management. He began his career with Investment Advisors.
"As we expand our distribution initiatives in the U.S. institutional marketplace, we will depend on the experience and dedication of Reid and our growing sales team to market our equity and fixed income investment strategies to a broad range of investors," Saeli said.
MFC Global Investment Management is the asset management division of Manulife Financial, serving institutional investors, investment funds and individual retail investors around the world through a range of asset classes, including equity, fixed income and alternative investments.
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