May 4, 2009
Fidelity Promotes Hogan To Fill Donovan's Spot
Fidelity Investments has promoted Brian B. Hogan to president of the equity division of Fidelity Management & Research Co., the investment advisor to the firm's mutual funds. A 15-year veteran of Fidelity, Hogan most recently was senior vice president of equity research.
He replaced Walter Donovan, who recently left to become chief investment officer for Putnam Investments.
"After a rigorous internal search, a number of very experienced and talented candidates emerged for this position, which speaks to the depth and quality of talent within our investment management ranks," said Fidelity President Rodger A. Lawson. "What ultimately set Brian apart was his broad range of experience and the success he's achieved in his various roles at Fidelity. Brian is a top-flight leader who is well respected both inside and outside of Fidelity."
Hogan joined Fidelity in 1994 as a fixed-income analyst, and he moved to the high-income division in 1995, where he was responsible for corporate bond research in Latin America. From 1996 to 1997, he worked in the Hong Kong office. He managed the emerging market bond portion of the Fidelity Advisor Strategic Income Fund from 1997 to 1998 and of the Fidelity Strategic Income Fund during 1998.
Following that, he managed the Select Construction and Housing Portfolio, the Advisor Cyclical Industries Fund, the Select Cyclical Industries Portfolio and a portion of the Fidelity Global Balanced Fund and the Fidelity Worldwide Fund.
Kendrick Joins ProFunds in Chief Marketing Position
ProFunds Group has hired Richard Kendrick as managing director, marketing, in charge of all marketing for the company's exchange-traded funds and mutual funds. He comes to the firm from RiverSource Investments, where he was vice president, asset management marketing.
Kendrick replaces Steve Cohen, who is assuming new responsibilities as head of ProFunds' new strategy group.
Earlier in his career, Kendrick was director of product and program marketing at Rydex Investments. He has also worked at the Corporate Executive Board, Oppenheimer & Co. and Merrill Lynch.
DTCC Names Four Senior Execs to Board of Directors
The Depository Trust & Clearing Corp. has elected four senior executives from AllianceBernstein, Goldman Sachs, MF Global and Morgan Stanley to its board of directors. They are: Stephen C. Daffron, managing director and global head of institutional services group operations for Morgan; Bernard W. Dan, chief executive officer of MF Global; Richard G. Taggart, executive vice president and head of global operations at AllianceBernstein; and Robin A. Vince, managing director and global head of operations for Goldman.
In 2008, DTCC cleared and settled transactions worth $1.88 quadrillion.
"In these difficult economic times, we are delighted to have four new members with such strong global executive experience join DTCC's board," said Donald F. Donahue, chairman and chief executive officer of DTCC.
Cook, Stone Become Brown Brothers Partners
Brown Brothers Harriman has appointed two new partners, Geoffrey M. Cook and Kevin W. Stone.
Cook has been with the firm since 1997, when he joined as resident managing director of BBH Luxembourg with a special focus on client servicing and support. As global head of fund administration from 2003 to 2006, Cook expanded the firm's full-service business, including fund accounting, fund administration and custody, transfer agency and chief compliance officer support services. Beginning in 2006, Cook also championed BBH's focus on Luxembourg-registered real estate funds. Before joining BBH, he spent eight years with Price Waterhouse in the investment management and banking practices.
Stone joined BBH in 1992 and has held several New York and Boston-based management positions in both the operations and treasury departments, becoming head of the treasury department in 2002. He has also been responsible for growing and overseeing cash management activities and relationships.
Citigroup Adds Chief Personal Wealth Overseer
Citigroup has hired Deborah Doyle McWhinney to head its personal wealth management division, which includes the U.S. network of Citibank branch-based advisers and other financial planning and wealth management services.
In the newly created role, McWhinney is to lead Citi's effort to expand its wealth management and premium personal banking services.
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