February 4, 2008
Fetting Takes Reins At Legg Mason
Legg Mason has chosen Mark Fetting as chief executive and president of the $1 trillion Baltimore money-management firm. Fetting, 53, is currently senior vice president at the firm, and will succeed co-founder Raymond "Chip" Mason.
One of my immediate goals will be to focus on providing services and support to our investment subsidiaries, whether by leveraging advanced trading and technology operations, or by deploying capital in ways that help the subsidiaries to grow their businesses," Fetting said. "I also want to optimize our model so that we help to package the capabilities of our subsidiaries and to bring them to market. Finally, I want to emphasize the build-out of our global business as an important near-term priority."
One of Fetting's other priorities will be to ensure that star money managers like Bill Miller stay with the firm.
Fetting is a former executive at Prudential Financial who's worked at T. Rowe Price and Citibank. He has a Master's in Business Administration from Harvard.
Gilpin Joins RAM
Edward U. Gilpin has joined RAM Holdings as chief financial officer.
"We are pleased to have Ted join our management team," said CEO Vernon M. Endo. "He is an experienced public company CFO with an extensive background in the financial guaranty industry. The industry is undergoing significant change and Ted's broad and deep experience will serve us well."
Gilpin was previously executive vice president, chief financial officer and a director at ACA Capital Holdings. Before that, he worked for Prudential Securities, MBIA and BHC Securities.
He is a graduate of St. Lawrence University and has a Master's in finance from Columbia University.
Liebrock Exits Fidelity For Captrust SVP Slot
David Liebrock has left Fidelity Investments, where he was a 16-year veteran, to work for Captrust Financial Advisors as senior vice president, based in Boston.
Captrust is an independent research and advisory firm with $20 billion in assets under management that specializes in providing services to retirement plan fiduciaries.
"We feel like Dave's capabilities and background will easily line up with the chassis we've created and allow him to quickly add value," said Dan Doster, chief operating officer at Captrust. "This gives Dave the opportunity to land on a system that's ready to go and allows him to leverage things he already does well."
Liebrock most recently served as executive vice president at Fidelity, where he oversaw and managed advisor 401(k) products. At Captrust, he will work with plan sponsors in the middle-market 401(k) space.
Smyth Joins The Hartford
Peter Smyth will join The Hartford Financial Services Group as senior vice president and director of strategy, development and operations for international wealth management. In this role, he is responsible for The Hartford's international growth and expansion strategy, as well as for the international office in Brazil.
"Peter comes to The Hartford with more than a decade of international management experience," said Liz Zlatkus, co-COO of Hartford Life Inc. "He has extensive expertise in global business development and management that will be a tremendous asset as we look to capitalize on future international growth opportunities."
Smyth previously worked at ING Asia Pacific in Hong Kong and held a variety of positions at Legal & General Asia.
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