November 3, 2008
Prudential Arm Hires Structured Exec Bonesteel
Prudential Financial's fixed-income asset management unit has hired Sara Bonesteel as the head of the structured asset management group. She was a senior managing director for Bear Stearns' financial analytics and structured transactions group. She continued in the role after JPMorgan Chase bought Bear Stearns in June. She has more than 17 years of experience covering asset-backed fixed-income products and financing techniques in mortgages, commercial mortgage-backed securities, collateralized debt obligations, and other fixed-income assets.
Gannon in Charge of New DCIO Division at MFS
MFS Investment Management has formed a new division to develop business in the defined contribution investment only marketplace, and has put Matt Gannon in charge, with the title of SVP, director of DCIO and strategic alliances. Gannon was previously director of dealer relations.
"Formalizing a DCIO initiative was part of a natural transition for MFS," Gannon said. "We were already acting in this capacity for various insurance company, retail and institutional platforms. Following the sale of our proprietary recordkeeping platform to The Hartford last year, MFS made the strategic decision to be a pure asset manager and to provide investment solutions across various markets and platforms, including DCIO."
Eldredge at MassMutual As VP, Investment Mgmt.
Michael Eldredge has joined Mass-Mutual's retirement services division as vice president, investment management, reporting to Eric Wietsma. Eldredge is in charge of investment management and research for the firm's Select and Premier families of mutual funds.
"Mike Eldredge brings a broad and deep level of investment management experience to the MassMutual organization," Wietsma said. "He will deliver tremendous support to MassMutual's client service and sales organizations on the investment front, and will play a leadership role in the management and direction of MassMutual's Smart Architecture investment program."
With more than 20 years of investment management experience, Eldredge most recently was vice president, fund strategy and due diligence for ING US Financial Services.
Santerre to Head Products At MFC Global Investment
MFC Global Investment Management has named Jeffrey Santerre head of U.S. product management. A managing director based in Boston, Santerre reports to Frank Saeli, managing director and head of U.S. institutional sales and relationship management.
Santerre comes to MFC from State Street Global Advisors, where he was a vice president on the global product development team. He also spent eight years at Putnam Investments, primarily in the product management area, where he assisted in the development of portable alpha, absolute return and global balanced strategies. He was also stationed in Putnam's London office for two years, where he worked on international equity product management. Santerre began his career as a performance measurement analyst at Evaluation Associates.
Jeff is responsible for developing and implementing our suite of investment strategies for distribution in the United States," Saeli said. "Jeff is a member of our global product committee and is also working in consultation with our portfolio management, sales and marketing teams with the goal of optimizing our total product positioning in the U.S. marketplace."
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