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Executive Moves

Mustin Joins Legg Mason As Institutional Director

Kimberly Mustin has joined Legg Mason as managing director and head of institutional business, Americas.

In her new role, Mustin is responsible for selling Legg's mutual funds and separately managed accounts through outside distributors. She reports to Senior Executive Vice President, Head of the Americas David Odenath.

Mustin was previously managing director of the financial institutions group at Deutsche Bank. Before that, she was head of consulting and relationship management for the retirement business with Scudder Investments.

"Kim has a proven ability to work successfully with all types of intermediaries, to drive high performance sales teams, to win institutional mandates, to retain client assets and to deliver excellent service," Odenath said. "As we look to the institutional segment as a key engine of growth for our mutual fund and SMA business, I know that Kim can make an immediate impact on our efforts and provide strong leadership."

Former Treasury Official Takes Fidelity Product Post

Anthony Ryan, Under Secretary of Domestic Finance with the Treasury Department until just last month, will be joining Fidelity Investments to develop new products and strategies.

Previously, Ryan spent six years as a partner and head of global business development and client relations at Grantham, Mayo, Van Otterloo. From 1994 to 2000, he was a principal, chief investment officer and portfolio manager of global equities at State Street Global Advisors. From 1988 to 1994, he was manager, global investments, at PanAgora Asset Management.

"We're very fortunate to have the opportunity to add an individual of Tony's caliber to our senior investment management executive team," said Michael E. Wilens, head of asset management at Fidelity. "In partnership with the heads of our investment businesses-Fidelity Management & Research Co., Pyramis Global Advisors and Strategic Advisers-Tony will be responsible for defining long-term investment strategies and approaches, and will head the development and coordination of investment management product offerings across the three businesses.

"Tony not only has a long and distinguished background in investment management," Wilens continued, "but also displayed his considerable leadership skills at the Treasury Department."

Hill Becomes ProFunds' Investment Strategy Chief

ProFunds Group has hired Joanne M. Hill as head of investment strategy. In this new role at the exchange-traded fund shop, Hill is responsible for research, development and execution of investment strategies. She spent the last 17 years with Goldman Sachs, most recently as a managing director in the pensions, endowments and foundations group. Among many other roles, she headed up global equity derivatives research.

"We are thrilled to welcome Joanne, one of the country's leading experts in development investment strategies using instruments like ETFs," said ProFunds Chairman and Chief Executive Officer Michael Sapir.

Northern Trust Hires Two N.Y. Relationship Execs

Northern Trust has hired two lead relationship managers and added them to the company's personal financial services team in New York to advise high-net-worth individuals and families.

Keith Ardizzone was hired from U.S. Trust, Bank of America Private Wealth Management, where he was managing director in the wealth management division.

John Voltaggio was managing director and head of financial planning for U.S. Trust's multifamily office group.

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