Schacht Executive Director Of Market Integrity Center
CFA Institute has hired Kurt Schacht as executive director of its new CFA Centre for Financial Market Integrity. In his new position, Schacht will be charged with maintaining and updating the CFA's Code of Ethics and Standards of Professional Conduct. Specifically, he will look at such subjects as soft-dollar standards and trade management rules.
Previously a chief operating officer and general counsel in both the hedge fund and mutual fund industries, Schacht has also served on various advisory committees, including one for the New York Stock Exchange. In fact, for his work in corporate governance, Schacht won the New York Society of Securities Analysts' Volunteer of the Year Award earlier this year.
Ross Resigns as President, CIO of National City
Donald L. Ross, who has been with National City Investment Management Co. since it began almost 10 years ago, announced that he would resign from his posts as president and chief investment officer effective March 31.
An 18-year industry veteran, Ross is said to be pursuing other career ventures. "Don has been dedicated to our goal of attaining the investment objectives of institutional and retail clients by providing a broad array of specialized investment strategies coupled with investment advice," said Ted M. Parker, executive vice president of National City's institutional asset management leg. Ross will stay on until his successor is found.
Hancock Promotes Litzow To Oversee Inst'l Business
John Hancock Funds has stayed in-house in its effort to expand its institutional business, promoting Senior Vice President John Litzow to also serve as head of its institutional business. Litzow, who is now in charge of the firm's private client wing, will keep that position.
Before coming to Hancock in 2002, Litzow worked for RBC Dain Rauscher, where he served as senior vice president and director of investment consulting.
Brett Rejoins AMR as VP
Brian E. Brett, who served as director of sales at AMR Investments from 1991 to 1996, has rejoined the firm as vice president and director of sales.
Brett replaces the promoted Bart Roberson, who will now serve as the company's vice president of client relations and special projects. Since Roberson joined AMR in 1988, external assets have ballooned from $1 billion to more than $14 billion.
The company is most known for its American AAdvantage funds, distributed by SWS Financial Services.
Reid, Callanan Elected to T. Rowe Foundation Board
The T. Rowe Price Associates Foundation, T. Rowe Price's charitable donations board, announced the election of two new trustees, Vernon Reid and Meredith Callanan. Both are vice presidents at the firm.
Combined, Reid and Callanan have 30 years of experience at the company. "Both Vernon and Meredith bring a lot of knowledge about not-for-profits and the needs of the community," said Ann Allston Boyce, president of the foundation.
Formed in 1981, the foundation makes charitable contributions to many causes. Most, but not all, of its focus is in the Baltimore area, where T. Rowe is based.
