Abunassar Succeeds Parker As Allegiant Chief Exec
National City Corp. has announced that John G. Abunassar has been promoted from president to chief executive officer of its Allegiant Asset Management subsidiary, succeeding Ted M. Parker, who is now president and chief executive of National City.
"John is highly qualified to serve as the senior executive of Allegiant Asset Management," said Jeffrey D. Kelly, National City vice chairman. "He brings a depth of experience, proven leadership and a track record of driving growth as Allegiant strives to become a world-class asset management firm. I look forward to continued positive momentum at Allegiant under John's leadership."
Abunassar joined Allegiant in 2004 as vice president of institutional business and was promoted to president this past September. Previously, he was a senior managing director at Bank One Investment Advisors for 11 years and an investment consultant with The Capital Control Group. He began his career as a pension consultant at Hewitt Associates.
Snyder Takes Over Reins Of Three ICON Funds
ICON Advisors, advisor to the Icon Funds, has promoted Scott Snyder to serve as portfolio manager of the ICON Asia Pacific Region, ICON Europe and ICON International Equity funds.
Snyder first joined the firm in 2004 as a research analyst and was promoted to assistant portfolio manager earlier this year. Prior to his hire, he worked for FactSet Research Systems as a portfolio analytics specialist and consultant.
MFS Investments Shuffles Fund Portfolio Managers
To improve the performance of some of its funds, MFS Investments has shuffled a number of portfolio managers, according to Morningstar.
Maureen Pettirossi replaces Greg Locraft as a co-portfolio manager on the MFS Massachusetts Investors Growth Stock Fund, with Irfan Ali and Stephan Pesek continuing to manage the fund.
Pettirossi has also replaced Locraft on the MFS Institutional Large-Cap Growth Fund, which is also managed by Margaret Adams, Pesek and Ali. Ali and Pettirossi will also be managing the MFS Growth Opportunities Fund, which Locraft previously managed.
Meanwhile, Ali has been moved off the MFS Strategic Growth and MFS Capital Opportunities funds, with Eric Fishman assuming responsibility for the Strategic Growth Fund and Locroft now running the Capital Opportunities Fund.
In addition, Rob Manning, MFS chief executive and chief investment officer, has been given the additional responsibility of overseeing the firm's growth fund managers. He will be reporting directly to David Antonelli, equities chief and head of research.
Tracy Named Director of Smith Barney Consulting
Smith Barney has tapped James Tracy as director of the firm's consulting unit. He will be responsible for all aspects of the unit's managed money and investment management consulting business, including research, marketing, product management and training.
"Jim is a strong believer in a client-focused wealth management and consulting process and has, without a doubt, demonstrated exceptional leadership skills within the fee-based business," said Paul Hatch, director of investment-advisory services, to whom Tracy now reports.
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