July 20, 2009
Janus Replaces Gary Black With Temporary CEO
Janus announced Tuesday that its chief executive officer, Gary Black, resigned, in a joint decision between him and the board, and has been replaced with Tim Armour, a director, as acting CEO.
"After much consideration, Gary and the board have come to the mutual decision that the time is right to bring new leadership to Janus," said Steve Scheid, chairman of the Janus board of directors. "During Gary's tenure, Janus made significant progress on its goals, including strengthening the firm's investment performance and risk management, revitalizing the Janus brand, generating positive net flows, and building out the firm's product and global distribution platforms."
Black said he decided to leave at a time when the firm is generating strong long-term performance, flows have rebounded and sales through the intermediary channels are strong.
Armour, 60, has been on the Janus board since March 2008. He has more than 20 years of investment industry experience, including 10 years as a senior executive at Morningstar and five years as president of Stein Roe Farnham's mutual fund division.
Russell Promotes Wood, Gordon to Strategists
Russell Investments has promoted Dr. Stephen Wood from senior portfolio strategist to chief market strategist, North America, and Doug Gordon from portfolio analyst to investment strategist.
Wood will continue to act as an external voice on the current state of the economy, capital markets, portfolio strategies and investor behavior. He also serves as Russell's liaison with important institutional clients and retail partners.
Gordon's new responsibilities include developing and maintaining quantitative models.
Eaton Vance Names Russell VP, Family Office
Eaton Vance Investment Counsel, a division of Eaton Vance Management that serves high-net-worth individuals, families, trusts and foundations, has named Antoinette Russell vice president of family office services, reporting to G. West "Westy" Saltonstall, president of Eaton Vance Investment Counsel.
"The multi-family office will leverage current resources and draw upon new capabilities to meet the complex needs of clients," Saltonstall said.
Russell has more than 30 years of experience in financial services, including 11 years serving the wealth market. Most recently, she was senior client advisor and director at SCS Financial.
Pritchard Runs New York Office of Kelleher Wealth
Kelleher Family Wealth Management has hired James Pritchard as branch manager for the company's New York office.
Pritchard, a 25-year veteran of investment management, joins the company from Midchester Capital, a broker/dealer he founded in 2005. Before that, he was first vice president and branch sales manager for Wachovia Securities and first vice president and director of alliance marketing at the national client center of Prudential Securities. He also held sales positions at Chase Manhattan Bank and Merrill Lynch.
Commenting on his new position, Pritchard said, "Kelleher Family Wealth Management's 'family first' approach and powerful platform fill a real gap in the financial services world. I am very excited to join the team and work with families who have historically been underserved by large money managers."
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