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Executive Moves

Executive Moves

September 29, 2008 - Putnam's Investment Chief Cronin Stepping Down Kevin Cronin, head of investments at Putnam Investments for the past three years, tendered his resignation, effective Oct 1, for personal reasons, the firm said.

Executive Moves

September 22, 2008 - FRC Founder Bathon Forms New Company Neil Bathon, who founded Financial Research Corp. in 1987, has now formed a new investment management research firm, FUSE Research Network. Bathon said the information he will provide investment management distributors will be 'actionable.'

Executive Moves

September 15, 2008 - Legg Mason Taps Odenath To Head Up the Americas David R. Odenath has joined Legg Mason as head of North and South American operations, reporting to Chief Executive Officer and President Mark R. Fetting. Responsible for the firm's mutual fund and managed account business, Odenath will also be responsible for corporate marketing and communications and subsidiaries ClearBridge Advisors, Legg Mason Capital Management and Royce & Associates.

Executive Moves

September 8, 2008 - Social Investment Forum Recruits Two PR Execs The Social Investment Forum has hired Meg Voorhes as deputy director of the organization and director of research. Formerly a member of the forum's board of directors, Voorhes is a longtime industry veteran who most recently was director of environmental, social and governance research for the financial research and analysis division of RiskMetrics Group. She spent much of her career at the Investor Responsibility Research Center, which RiskMetrics acquired in 2005. There, she specialized in investing in South Africa.

Republicans Favor McCain As Market, Industry Ally

September 8, 2008 - MINNEAPOLIS - Sen. John McCain is the better choice for the financial services industry not for what he would do as president, but rather for what he would refrain from doing, GOP lawmakers said here this week during the Republican National Convention. Several legislators contrasted the Arizona Republican's generally hands-off approach to market volatility with what they expect would be a hefty list of reforms that could hurt banks and other financial companies if Sen. Barack Obama won the election.

Executive Moves

August 18, 2008 - Khan Heads Development For ING U.S. Wealth Unit ING has hired Tariq Khan as senior vice president in charge of market development and multicultural initiatives for the U.S. Wealth Management Wholesale Distribution division.

Executive Moves

August 11, 2008 - Clapp Accepts Sales Post With Fred Alger Mgmt. Elizabeth Clapp has joined Fred Alger Management as senior vice president, national sales manager, overseeing the financial adviser and broker channels. She comes to the firm from Evergreen Investments, where she was managing director, head of national accounts.

Executive Moves

August 4, 2008 - Rampart Promotes Two To Managing Director Rampart Investment Management announced the promotions of Debbie L. Cancela and John J. Harrington to support the firm’s global expansion. Cancela, senior vice president, director of operations and chief compliance officer, and Harrington, executive vice president and director of investments, will both become managing directors.

Executive Moves

July 28, 2008 - Richard Jenrette Joins Blackstone Board The esteemed Richard H. Jenrette, founder of Donaldson Lufkin & Jenrette in 1959 and later chairman and CEO of The Equitable Companies, has joined the board of directors of The Blackstone Gorup. Jenrette was also a one-time chairman of the Securities Industry Association and a member of the boards of Advanced Micro Devices, Duke Endowment, McGraw-Hill, the National Trust for Historic Preservation, New York University, The Rockefeller Foundation and the University of North Carolina.

Executive Moves

July 21, 2008 - Callan Joins Credit Suisse As Head of Hedge Funds Erin Callan, who was recently ousted from her position as Lehman Brothers chief financial officer, will begin a new role as head of Credit Suisse's global hedge fund business on Sept. 2. Callan will also join Credit Suisse's investment bank management and global client steering committees.

Executive Moves

July 14, 2008 - Petrozzo, DePoalo New CIOs at Fidelity Daniel Petrozzo has been named new chief information officer at Fidelity Investments, and Ronald E. DePoalo is now CIO of the firm's institutional products division.

Legg Slashes CEO's, Founder's Salaries

July 7, 2008 - In light of Legg Mason's recent struggles and dropping stock price, the company has slashed the pay of CEO Mark Fetting and its founder Raymond 'Chip' Mason.

Executive Moves: Merk Investments Recruits Former St. Louis Fed Prez

July 7, 2008 - Merk Investments has hired William Poole, former president of the Federal Reserve Bank of St. Louis, as senior economic adviser. As president of the St. Louis Fed, Poole served on the Federal Open Market Committee and was a prominent voice on low inflationary monetary policy.

Cool, Calm & Reflective: How Flanagan Saved Invesco From Itself

July 7, 2008 - Back in 2005, the chances that Amvescap, now Invesco, would make a 360-degree turnaround seemed virtually impossible, but with a little bit of time and the addition of Martin Flanagan as chief executive officer, the unlikely actually occurred.

Talent Grabs Keep Flaring Despite High Cost

July 7, 2008 - Mutual fund companies and other financial services firms continue to battle one another for wealth management talent even though companies are forced to pay hefty salaries that crimp profits.