March 2, 2009
Bank of New York Mellon Promotes Kilpatrick to Pres.
Bank of New York Mellon has promoted Troy Kilpatrick to president of its Bank of New York Mellon Trust. He succeeded Michael Klugman, who has retired. Kilpatrick, who has worked for Bank of New York Mellon since 1999, was the head of the corporate and municipal finance group within its global corporate trust business.
Northern Trust Executive Is Named Chief Strategist
Northern Trust has promoted James D. McDonald to chief investment strategist.
In this newly created position, he will make strategic and tactical investment recommendations and communicate the Chicago company's investment strategy to individual and institutional clients.
McDonald had been director of equity research, overseeing a team of 17 research analysts.
He will retain his role on Northern Trust committees overseeing investment policy, private-equity investment and tactical asset allocation, as well as serving as trustee of the NT Alpha Strategies Fund.
He will continue to report to Robert P. Browne, Northern Trust's chief investment officer, who said, "As we continue to face extreme volatility in the global economy, Jim's expertise will be instrumental in setting our course and communicating with clients the Northern Trust view of global market events."
Before joining Northern Trust in 2001, McDonald was director of research at ABN Amro Holdings.
Cohen & Steers Hires Edlin for National Sales
Cohen & Steers, an income-oriented asset management firm, has hired David Edlin as a senior vice president and national sales manager. He will set sales strategy for the broker/dealer channel and oversee the external sales force.
Edlin was the national sales director at AllianceBernstein Investments. He began his career with Putnam Investments and later became national sales director for Scudder Investments/Deutsche Asset Management.
Cohen & Steers specializes in U.S. and international real estate securities, large-cap value stocks, utilities and listed infrastructure and preferred securities. It also has alternative strategies.
Mathas Selected to Chair New York Life Insurance
New York Life Insurance President and Chief Executive Officer Ted Mathas has been given the additional responsibilities of chairman.
On June 1 he will succeed Sy Sternberg, 65, who has been New York Life's chairman since 1997. Sternberg has had the longest tenure of any New York Life chairman since the position was established in 1931.
Mathas, 41, has been New York Life's president since July 2007 and its CEO since July of last year. He will retain both titles after he becomes the company's 13th chairman.
He has worked for New York Life since June 1995.
Sternberg joined New York Life in 1989 and became its chairman and CEO in April 1997. He served as its president from October 1995 through September 2002.
Barclays Global ETF Unit Hires iShares Executive
Barclays Global Investors has hired John Longley as head of national accounts for its iShares exchange-traded funds.
Longley will set the strategic direction and lead a team to expand distribution for the funds through partnerships with national and regional banking companies and broker/dealers. He will join Barclays Global Investors in the spring. Longley was the chief executive officer of Citigroup's private bank. He worked for Smith Barney and Citi for 16 years.
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