Eric Baggesen, senior investment officer (SIO) for asset allocation and risk management, CalPERS
Pension fund giant the California Public Employees’ Retirement System (CalPERS) has promoted Eric Baggesen to the post of senior investment officer (SIO) for asset allocation and risk management just as Janine M. Guillot, the former chief operating investment officer (COIO), is completing the final projects of her tenure, say CalPERS officials.
Baggesen has been serving as the acting SIO for asset allocation and risk management after Farouki Majeed left the position last year, say pension fund officials. In his new post, Baggesen will oversee asset allocation implementation, and the monitoring and managing of CalPERS’ total investment portfolio. Baggesen’s other responsibilities as the SIO for global equity will be taken over by Dan Bienvenue, who will serve as the acting SIO and as senior portfolio manager in the asset class, say CalPERS officials.
Baggesen, who joined CalPERS in 2004, previously worked at State Street Global Advisors for eight years as the unit head of emerging markets in the global structured products group, say fund officials. He was named SIO for CalPERS Global Equity program in 2008.
Bienvenue joined CalPERS in 2004 after serving as a principal and senior portfolio manager with Barclays Global Investors, overseeing an international equity portfolio management team responsible for $55 billion across developed and emerging markets, CalPERS officials say. He was named senior portfolio manager for global equity at CalPERS in 2008. In that role he is responsible for implementing and directing CalPERS internally managed equity portfolios.
As Acting SIO for Global Equity, Bienvenue is responsible for implementation and management of investment strategy and policy for the Pension Fund’s $138.5 billion portfolio in publicly traded equity investments worldwide.
In other news, Guillot announced in May that she would be stepping down as COIO and would be exiting during the summer, say pension fund officials. “Her last day as COIO was May 24 but she will be finishing up a few outstanding projects through July,” according to a CalPERS spokesman. “Carol Moody has been named acting COIO and we’ll recruit to find a permanent replacement. There is no timeline. Janine is taking some time off and will be evaluating what her next move is.”
Interim COIO Moody is a senior portfolio manager for investment compliance and operational risk for CalPERS, responsible for developing and monitoring investment management compliance and operational risk programs, pension fund officials say. Prior to CalPERS, she was chief risk officer for Wilmington Trust overseeing all aspects of risk management.
CalPERS hired Guillot in 2010 from Barclays Global Investors, which had been acquired by BlackRock in December 2009. At BGI, she was the managing director and chief operating officer for BGI’s $450 billion global fixed income business, prior to the BlackRock acquisition. Her mandate at CalPERS was to work with senior staff to implement strategies for CalPERs’ real estate, alternative investment and public market portfolios, including the development of portfolio trade and management systems, say pension fund officials.
CACEIS Regional Head Is from State Street
Roberto Colapinto, head of regional coverage, Southern European & Latin American clients, CACEIS
Asset servicing banking group CACEIS has appointed Roberto Colapinto as head of regional coverage, in charge of Southern European and Latin American clients, effective June 15, say CACEIS officals. Colapinto will report to Joseph Saliba, CACEIS deputy CEO, in charge of business development.
Previously, Colapinto worked for State Street for nine years in London, Zurich and Milan where he managed the acquisition of Deutsche Bank Securities Services in Italy, say CACEIS officals. He then became director general of the Italian branch of Banque Privee Edmond de Rothschild Europe, which he established in 2007.
Colapinto will oversee further development of CACEIS’s sales activity with Southern European and Latin American asset managers, institutional investors, banks and brokers.
Fiserv Moves Deputy General Counsel to Top Post
Financial technology vendor Fiserv has named Lynn S. McCreary to the position of executive vice president and general counsel, effective July 1, say company officials. McCreary succeeds Charles Sprague, who will serve as chief legal officer to the company until his retirement in February 2014. Since March 2010, McCreary has served as deputy general counsel at Fiserv, with responsibility for several areas, including litigation and intellectual property matters. Prior to joining Fiserv, she was a partner at Bryan Cave LLP.
Numerix Hires from Within for MD of EMEA
Numerix has promoted John Peck to managing director of EMEA for the derivatives valuations and risk management vendor Numerix, officials say. Peck will oversee all direct sales and pre-sales efforts and drive the day-to-day initiatives of financial engineering, quantitative research and development teams across the region.
“Since joining Numerix in September 2010, John has played a vital role in strengthening Numerix’s core client base and partner network throughout the region, contributing to 22% of EMEA revenue growth in 2012 over the previous year,” says Steven R. O’Hanlon, CEO and president of Numerix.
Peck, who reports to Joseph Saporito, executive vice president of global sales, will manage Numerix’s Dubai, Stockholm, Milan, Frankfurt, Paris and London sales and development office locations, say vendor officials. He has more than 20 years of industry experience managing regional and global sales and product teams that sold financial information, analytical solutions and risk management systems for front- and back-office end-users at buy- and sell-side firms.
ICAP Picks Heads of Indices and NGL Energy Team
Interdealer broker ICAP has appointed Jan de Smedt as global head of indices in a bid to increase the number of ICAP indices linked to exchange traded products, mutual funds and derivative products, say ICAP officials. De Smedt is also charged with growing ICAP’s calculation services and data sales business worldwide.
De Smedt previously worked at S&P Dow Jones Indices as senior director licensing and sales within the client coverage group in London. His prior career has spanned commodity trading as well as fund management sales, according to ICAP. He will be based in London and report to Kevin Taylor, head of ICAP Information Services (IIS).The IIS group sits within ICAP’s Post Trade Risk and Information division.
In other news, ICAP Energy, the US energy and commodities arm of ICAP, has announced that Jim Bass has joined the company as head of Natural Gas Liquids (NGL) from Bass Liquids LLC, say ICAP officials. Bass will lead ICAP Energy’s expansion into the propane, ethane, butane, and pentane facets of the NGL markets.
RTS Grows Presence in China
Trading solutions vendor RTS Realtime Systems Group recently established a Shanghai office, expanded its staff in Greater China, and launched a Chinese-language website, say company officials. In Hong Kong, RTS has moved into new office space and initiated plans to move its data center to the Hong Kong Exchange (HKEx) co-location facility. The firm will develop low latency gateways to capitalize on HKEx’s new Orion initiatives and connect to its equities and derivatives platform.
Greater China presents “a significant strategic growth opportunity for RTS, says Steffen Gemuenden, CEO for the provider of hosting, risk management, trading and connectivity solutions. RTS is hoping to foster the growth of locally-based brokerages and trading firms.
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