Industry

A consortium comprised of New York investment firms J.C. Flowers & Co., Dune Capital Management and Paulson & Co. is set to acquire distressed IndyMac Bancorp, according to published reports.

Peter Cieszko, who was selected to become president and chief executive officer of Evergreen Investments next month, has suddenly left, “to pursue other opportunities,” the firm said.

Pioneer Investments has hired Bill C. Taylor, a 25-year veteran of the financial services industry, to serve as senior vice president and head of relationship management and strategic alliances in the U.S., reporting to Joseph D. Kringdon, head of U.S. retail distribution and president of Pioneer Funds Distributor.

Neuberger Berman’s board of directors has selected Tom D. Seip as non-executive chairman and Robert Conti as chief executive officer. The two men succeed Peter E. Sundman, who is resigning.

GLG Partners, a hedge fund, is acquiring the U.K. fund management arm of Societe Generale. Although terms of the deal were not disclosed, the firms revealed that the unit has $8.2 billion of assets under management.

Wilmington Trust has promoted Adrian Cronje to chief investment strategist. He joined the firm in 2005 from Schroder Investment Management in London, where he was director, deputy head of quantitative equity products.

President-elect Barack Obama has named regulatory veteran Mary Schapiro to lead the Securities and Exchange Commission after he takes office next month.

Legg Mason has hired Peter Sundman as president and chief executive officer of its ClearBridge Advisors subsidiary.

Harris Associates has promoted Rob Taylor from associate portfolio manager on the Oakmark International Fund to co-portfolio manager, along with David Herro, who is also the firm’s chief investment officer of international equities.

Most executives wouldn't consider themselves "fortunate" if they took over one of the largest fund companies weeks before an historic market collapse.