September 14, 2009
OppenheimerFunds Hires Sales, Marketing Chiefs
OppenheimerFunds has hired William C. Carey as head of distribution and Martha B. Willis as chief marketing officer, to help the firm respond to a rapidly changing industry and to streamline marketing and distribution functions across the firm's various business lines and out to clients.
"In early 2009, OppenheimerFunds embarked on a plan to focus on our core strengths in order to better serve clients and build on a long history of investment excellence," said Bill Glavin, CEO of OppenheimerFunds. "Along with the investment and risk management leadership we put in place earlier this year, Bill and Marty will help us shape product and distribution strategies and maximize the strong sales and marketing talent we already have at OppenheimerFunds."
Carey, who starts on Sept. 21, comes to the firm from Bank of America, where he was managing director of distribution and relationship management in the institutional retirement, philanthropy and investments division. Before joining BoA in 2007, he was with Fidelity for 14 years. His last position there was president of the institutional retirement services division and the registered investment advisor group.
Carey is replacing Richard Knott, who has decided to leave the company to pursue entrepreneurial opportunities.
Willis, who starts on Oct. 1, comes to the firm after a 25-year run at Fidelity, most recently as executive vice president, investment product management, in the mutual fund distribution division. She began her career as a wholesaler for MFS Investment Management.
SEC's Atlanta Director To Join Haynes and Boone
Katherine "Kit" Addleman, regional director of the Atlanta office of the Securities and Exchange Commission, will leave the SEC after 20 years of service in late October to become a partner with Haynes and Boone.
"Kit has proven herself to be a terrific lawyer who has played a major role in significant SEC efforts to protect investors," said Terry Conner, a managing partner with Haynes and Boone. "Her background will be an invaluable asset for the firm and our clients. We are privileged to have her as our partner."
Ron Breaux, head of the specialized litigation practice at the firm, added, "Given what's happening in the SEC and the current environment of increased enforcement, an ever-expanding list of clients find themselves the subject of SEC enforcement investigations."
Cases brought under Addleman's leadership included accounting fraud and financial disclosure violations by public companies and their officers and directors as well as audit failures by accounting firms and individuals. Additionally, she directed investigations and litigation involving insider trading by corporate insiders and securities market participants; fraud and compliance violations by investment advisors; and fraud, books and records, and supervision violations by broker/dealers and representatives.
Her legal career began in 1986 as an enforcement staff attorney and special counsel in the SEC's Philadelphia office. She was assistant regional director for enforcement in the Denver office and then associate regional director for enforcement in Atlanta in 2005 and 2006, and in Fort Worth in 2006 and 2007.
Northern Trust Names Fradkin Division President
Northern Trust has promoted Steven L. Fradkin from executive vice president and chief financial officer to president of its corporate and institutional services business unit. William L. Morrison, EVP and co-president of personal financial services, will assume Fradkin's role as CFO, and Sherry Barrat, president of personal financial services, will assume Morrison's current responsibilities. Timothy J. Theriault is stepping down as president of corporate and institutional services to pursue interests outside the financial services sector.
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