| ||||||||||
| ||||||||||
— Movers and Shakers —
In June, Putnam hired Robert Reynolds (pictured) as president and CEO to help turn the firm around. He is a former vice chairman and chief operating officer at Fidelity Investments.
In 1981, Aigrain (right) began his career at J.P. Morgan Chase & Co., where he eventually became co-head of corporate finance. He joined Swiss Re in 2001, becoming CEO in 2006. Lippe has been with Swiss Re for 25 years. Amherst Securities Group LP, a broker-dealer specializing in residential mortgage-backed securities, made four hires. They are: senior managing director Daniel Farrell and managing director Mark Castiglione, structured products; managing director Andrew Beal, agency CMO trading; and senior vice president Kenneth Dinovo, agency CMO structuring and trading. Farrell will help develop the firm's non-mortgage asset-backed
securities and structured finance business. Prior to forming MatchPoint
Capital Partners, he was managing director and group head of the
structured asset finance group at Wachovia Securities LLC. Farrell also spent 13 years at Financial Security Assurance Inc. Castiglione was a managing director at R3 Capital Management LLC, a multi-strategy credit focused hedge fund. Before that, he worked in the global principal strategies group at Lehman Brothers Holdings Inc. and spent 13 years at FSA. Beal worked at Merrill Lynch & Co. for 12 years, where he traded collateralized mortgage obligations. Dinovo worked at Merrill in agency CMO trading and as head structurer. Private equity firm Permira expanded its global technology team, hiring Brian Ruder as a partner and Bruce Chizen as a senior adviser. Ruder spent eight years with Francisco Partners, focusing on investments in the software and services sectors. Chizen served as CEO of Adobe Systems Inc. between 2000 and 2007. Also, partner Richard Sanders relocated to Menlo Park, Calif., to lead the team after nine years working on technology and technology-related investments from the London office. CDC Group plc, a U.K. government-backed private equity emerging markets fund-of-funds investor, hired Shonaid Jemmett-Page as chief operating officer. She was previously senior vice president of finance and information at consumer products conglomerate Unilever. Prior to joining Unilever in 2001, Jemmett-Page worked at KPMG LLP for 20 years, where she established its sustainability unit. Geo Genesis Group Ltd., an advisory and investment company focused on China and other emerging markets, appointed Joëlle Mekers as a senior managing director and head of project finance. She was head of loan markets Americas at the Commonwealth Bank of Australia in New York. Mekers has also been head of Asia-Pacific media and telecommunications with Bank of America Corp. in Hong Kong. Greenberg Traurig LLP added securities litigators Paul Bessette, Michael Biles and Jesse Weiss to its Austin, Texas, office. Bessette joins as a national co-chair and Biles and Weiss join as shareholders. All arrive from Akin Gump Strauss Hauer & Feld LLP, where Bessette headed the securities litigation group. Seven associates join with them. Separately, Thomas Woodman joined the Dallas office as a shareholder in the litigation practice group. Prior to Greenberg Traurig, Woodman was a shareholder with Winstead PC. In response to the government's new $789.5 billion stimulus plan, Foley Hoag LLP
is bringing together attorneys and policy specialists to advise clients
on funding opportunities. Practices span energy technology and
renewables, environment, infrastructure and privatization, life
sciences and government strategies. The initiative is being led by Douglas McGarrah, who chairs the infrastructure group in Boston. Latham & Watkins LLP tapped Jordi Dominguez for its Spanish practice as a partner in the tax department. Dominguez hails from J&A Garrigues SLP. From 2005 to 2007, he was based in New York and served as co-head of its U.S.-Spain tax practice. Kurtzman Carson Consultants promoted Michael Frishberg to vice president of corporate restructuring services. He leads the team and is a former partner in the restructuring group at Kirkland & Ellis LLP. |
Boston's Putnam Investments will lay off 260 people, or 10% of its workforce. Senior managing director Jeff Carney said the cuts will mainly be in sales and operations staff in Boston and Andover, Mass. Withdrawals and overall market decline put the money management firm's assets under management around $101 billion at the end of January compared to about $178 billion in the previous year.
Swiss Reinsurance Co. CEO Jacques Aigrain has
resigned, taking responsibility for the firm's losses, which are
expected to be about Sfr1 billion ($858 million) for 2008. The board
appointed Stefan Lippe (pictured left), now deputy CEO and chief operating officer, as Aigrain's successor.
|
|
|
|
|
