Executive Moves

SEC Appoints Thomsen As Enforcement Chief

The Securities and Exchange Commission has filled the post of director of the division of enforcement from within. Linda Chatman Thomsen, formerly deputy director of that division, takes the place of Stephen M. Cutler, who announced in April that he was leaving the SEC for the private sector.

Linda is a highly accomplished attorney with a proven record of effective advocacy on behalf of the nation's investors,said SEC Chairman William H. Donaldson.

Thomsen has been with the SEC since 1995, when she joined as assistant chief litigation counsel. Two years later, she became assistant director of the division of enforcement and, in 2000, associate director. Her appointment as deputy director came in January 2002. In that role, she has overseen many investigations and litigations, including the high profile Enron case.

Prior to joining the SEC, Thomsen was in private practice at Davis Polk & Wardwells Washington and New York offices. She also served as an assistant United States attorney in the District of Maryland.

Rydex Names Ruvoli National Sales Manager

Rydex Investments has tapped Gregg A. Ruvoli as its national sales manager. In his new position, Ruvoli will oversee distribution, especially in the registered investment advisor and broker/dealer areas.

Ruvoli comes to Rydex from Allstate Financial, where he served as national sales director. In fact, all of his positions during his two decades of experience have been with Allstate companies. He worked as both a national and regional sales manager for Allstate subsidiary Northbrook Life Insurance Company, and, prior to that, a senior marketing manager for Allstate Life Insurance Company.

Said Rydex Chief Executive Carl Verboncoeur, His experience in leading sales teams for sophisticated financial products is impressive, and we are pleased to add him to our team.

Highmark Looking to Expand, Managing Director Says

Highmark Funds, the fund subsidiary of UnionBanCal Corp., will expand its regional sales teams, the company told American Banker.

Gregory Knopf, the managing director of the funds, said, We think there are excellent opportunities to leverage our franchise nationwide. By adding sub-advisers, assets and products, I think we can leverage our fund family nationally.

Highmark, which has created nine regional sales teams in the past 18 months, said it would continue expanding its fund lineup to draw in more advisers. Knopf said the company will also try and bring in some institutional expertise.

Robeco Names Gorman As a Managing Director

Peter M. Gorman has been named to the sales team at Robeco Investment Management, where he will serve as managing director for the companys intermediary team.

In that position, Gorman will sell Robeco products through broker-dealers, bank and trust companies and other sub-advisory segments. Most recently, Gorman worked for Blue Alternative Investment Management, where he was managing director of marketing and investor relations. Before that, he was a principal and headed up marketing and client services for Simms Capital Management.

In his new spot, Gorman will report to John B. Coan, managing director and head of sales for Robecos intermediary channels.

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