Karen Fang, Thomas Bruch Join AIG Financial Products

AIG Financial Products has hired Karen Fang and Thomas Bruch as managing directors for its Investor Coverage and Hedge Fund Coverage Groups.

Fang's most recent experience is as director of equity derivatives structured products group at Deutsche Bank in New York and London. Previously, she occupied a number of high-level positions in equity derivatives marketing and structuring at Merrill Lynch International in Tokyo and London. A graduate of the University of Tokyo, Fang will report to Robert G. Leary, head of the Investor Coverage Group.

Bruch is a veteran in the derivatives industry and has 24 years of experience. Prior to joining AIG, Bruch worked at Morgan Stanley where he covered hedge funds. In his new position, Bruch will work in strategic corporate finance for the company's hedge fund clients and report to Thomas Kushner, head of the Hedge Fund Coverage Group. Bruch is a graduate of the Wharton School at the University of Pennsylvania.

"As hedge funds have expanded into even broader aspects of the global investment landscape, comprehensive service to this client group has become increasingly important," Bruch said. "I am exited to have the opportunity to deliver this unique platform to hedge fund clients and to work within such a strong team."

Federated Promotes Gross

To Guide Global Research

Federated Investors has promoted Curtis R. Gross, CFA, to director of global equity research. Gross will now manage a group of 30 domestic and international equity research analysts. Research generated by the group will be used by Federated portfolio managers.

Gross has 17 years of finance experience. Gross joined Federated in 2003 from Northern Capital Management, where he was a senior analyst/portfolio manager. Prior to that, Gross held a number of positions with Prudential, where he handled reporting of insurance, pension and mutual funds. Gross also previously served as a trust investment officer and senior equity analyst at National City Bank.

MassMutual Selects Reese

As Its New President, CEO

MassMutual Financial Group has named Stuart H. Reese its new president and chief executive officer.

"Stuart Reese is a seasoned veteran of the company who has deep and broad knowledge of all our operations," said James R. Birle, who will become non-executive chairman of the company's Board of Directors. "We are delighted that he will lead the company forward on its growth path."

A 12-year veteran of MassMutual, Reese most recently served as executive vice president and chief investment officer where he set the company's general investment strategy and managed the company's General Account.

Reese has also held a number of leading positions at the company's subsidiaries, such as chairman and CEO of Babson Capital Management, chairman of the Antares Capital, chairman of Cornerstone Real Estate Advisers, and as a member of the Board of Directors of Oppenheimer Acquisition. He joined MassMutual from Aetna Life and Casualty, where he served as vice president and managing director of Capital Markets. Reese graduated from Gettysburg College and holds an M.B.A from the Amos Tuck School of Business at Dartmouth College.

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