January 28, 2008
Prescott Joins FundQuest As Retirement Chief
Leslie Prescott has been hired as director of retirement management solutions at FundQuest, a global provider of managed account investment solutions for financial institutions and 2,000 advisers.
She comes from Fidelity Investments, where she held various positions, including vice president for the retail retirement services group, focusing on rollovers and joint marketing efforts with Fidelity Brokerage.
Prescott also developed a scalable financial planning offering targeted to employees of Fidelity's retirement plan-sponsor clients.
Before that, Prescott was a management consultant at CSC Index Group, working with Fortune 500 companies on strategic and operational projects.
She has a MBA from the Wharton School at the University of Pennsylvania and received her bachelor's degree from Duke University and Master's from Boston University.
"We are eager to see the retirement platform evolve through Leslie's direction," said Bob Del Col, founder and chairman of FundQuest. "We're confident Leslie's leadership and experience will enable her to make continuous improvements to the platform to support our current clients and to attract new financial advisory firms for FundQuest's services."
Russell Reynolds Taps Two In Financial Services
Jim Houston and Cornelia Kiley have been named co-leaders of the asset and wealth management practice for the Americans for Russell Reynolds Associates. Both professionals will continue to be based in New York.
Houston has been with the firm for 19 years. He has served clients in the equities, fixed-income and advertising sectors. He has recruited C-suite talent and heads of equity and fixed-income, as well as senior portfolio managers. He is a member of the firm's investment committee
Previously, Houston was a principal at Morgan Stanley and a senior compensation associate at Goldman Sachs. He began his career in investment management at Citicorp Investment Management.
For her part, Kiley has established a track record of building global businesses within the asset management industry. She joined Russell Reynolds from Bank of America, where she served as managing director and head of institutional distribution for Columbia Management Group. Prior to that, she was with the Lend Lease Corp. as chief marketing officer for its real estate operations. Previous to that post, she was managing director at Chase Manhattan Bank and managing director and head of global sales and marketing with Chase Asset Management. She was also a founding partner and head of marketing and sales with Seix Investment Advisors.
At Russell Reynolds Associates, Kiley focuses primarily on private equity real estate as part of the firm's global alternatives investment team. She has also helped expand the firm's franchise in emerging markets.
Morgan Selelcts Daffron To Run Trading, I-Banking
Morgan Stanley has hired Stephen Daffron from hedge fund giant Renaissance Technologies Corp. to run operations for its sprawling institutional trading and investment banking unit. He now reports to the firm's co-President James Gorman. Morgan Stanley has been decentralizing operations into its divisions since global operations head Eileen Murray-who was recruited in late 2005 by Chief Executive Officer John Mack and was on the investment bank's management committee-quit last summer after she lost her direct reporting line to Mack. Daffron had previously been chief operating officer at Renaissance, a quantitative firm with more than $30 billion of assets, for less than two years.
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