State Street has closed the deal for its $485 million acquisition of GE Asset Management (GEAM), a divestiture from General Electric Company, and the giant asset manager/custodian has begun the transition of GEAM’s $100 billion in assets under management, officials say. The total purchase price of up to $485 million is “expected to be accretive… Read More >>
PIMCO Adds Distressed Credit EVP
Pimco Hires from Bayside Capital Pimco, the Newport Beach, Calif.-based investment management firm, reports that it has hired Lionel Laurant as an executive vice president and portfolio manager focusing on distressed credit strategies. He will be based in the London office, reporting to Marc Seidner, managing director and chief investment officer — non-traditional strategies. Laurent… Read More >>
TrueEX Fills Top IT Management Post
TrueEX, which characterizes itself as the first designated contract marketplace for interest rate swaps, reports the appointment of Saro Jahani as chief information officer. Additionally, Jim Miller, the company’s co-founder, will be “migrating from his current full-time role as head of product development at the company in April 2015 to become an advisor to the… Read More >>
BGC Partners Replaces CIO
Interdealer broker BGC Partners has hired Eric Hirschhorn as its new chief information officer (CIO), replacing BGC’s previous CIO Yevette Tierney, who “left the company to pursue other interests, effective immediately,” according to the statement. “I would like to acknowledge the outstanding work performed by Yevette and her team over the past eight years,” says… Read More >>
Barclays Exec Joins Capco’s UK Team
Business and technology consultancy Capco has appointed Jonathan Rose, a former Barclays executive, as a partner for its UK team. Rose has previously worked as a managing director, chief operating officer (COO) and chief investment officer (CIO) at Barclays bank, according to Capco’s statement. At Barclays, Rose’s managed IT service delivery, transformation, management and strategy… Read More >>
PIMCO’s New Group CIO Faces Redemption Woes
Bond investment giant PIMCO has elected industry veteran Daniel Ivascyn to serve as group chief investment officer following the sudden departure of co-founder William H. Gross last week, which hastened investor redemptions, PIMCO officials say. Influential fixed income adviser Gross left to work for mutual fund giant Janus Capital Group. Over the past month, investors… Read More >>
SEC’s CIO to Leave in October
Thomas Bayer, the chief information officer (CIO), is leaving the SEC in October after a four-year tenure marked by “significantly reduced operation and maintenance costs,” say SEC officials. For the moment, there is no immediate replacement for Bayer and it is not known what his next move will be, say sources familiar with the situation…. Read More >>
