NYLIM Hires Higgins, Smythe as Vice Presidents

New York Life Investment Management (NYLIM) has hired Bill Higgins and Tom Smythe as vice presidents in the wealth strategies division of its MainStay Investments subsidiary.

Higgins and Smythe will be responsible for selling MainStay funds and NYLIM institutional products, including separately managed accounts, to retirement platforms and registered investment advisors.

Higgins will handle sales in the eastern region of the U.S., while Smythe will handle the West, with both reporting to Doug Amacher, director of retirement platform and RIA sales.

Higgins joins MainStay from Constellation Funds, where he was responsible for distributing the firm's sub-advised funds to defined contribution plans. He also worked at Pilgrim Baxter and Provident Mutual Pension Services. Smythe was previously with Invesco, where his 14-year career included positions in the financial institutions, retirement and institutional groups.

Putnam Lovell Promotes Pierson to Head Banking

Putnam Lovell NBF Securities has promoted Steven C. Pierson, formerly a managing director in the firm's investment banking practice, to serve as head of the division.

Pierson will be taking over responsibilities from John Griff, who is now in charge of the U.S. operations of National Bank Financial, Putnam Lovell's Canadian parent.

In addition, Aaron H. Dorr and Scott D. Schubert have both been promoted from director to managing director in the firm's investment banking practice.

"Steve has led the successful expansion of Putnam Lovell's investment banking practice in the financial technology and securities brokerage areas and has exhibited outstanding leadership qualities," Griff said. "Aaron and Scott have proven to be excellent bankers who have advised on several important transactions in the past several years. Their promotions are well deserved."

Freeman Becomes SVP, Social Research at Calvert

Calvert has appointed Bennett Freeman senior vice president for social research and policy. Prior to his hire, Freeman was head of the global corporate responsibility practice at Burson-Marsteller. Reporting to Calvert President and CEO Barbara J. Krumsiek, Freeman will manage the social analysis functions and maintain strong relationships with Calvert's portfolio managers.

Taylor Promoted to Run Amvescap North America

Amvescap has promoted Phil Taylor from head of the firm's Canadian money management division to head of all North American mutual fund operations, including AIM Investments. Taylor will assume the new position on April 17.

He replaces Mark Williamson, who will leave the company by the end of the year and serve as a consultant until then, with one of his main responsibilities being completing Amvescap's acquisition of PowerShares Capital Management.

Taylor is tasked with turning around Amvescap at a time when it has been bleeding assets; since January 2005, $14 billion in withdrawals from Amvescap's funds have been second only to those from Putnam Investments. Poor results and investigations into market timing prompted the redemptions. But given Taylor's track record of increasing assets managed by Amvescap Canada 30% since becoming its chief executive in 2002, he might be up to the job.

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