ProShares Hires Holderith As VP, National Sales Mgr.

ProShares Advisors has hired Robert Holderith as vice president and national sales manager for ETF products, a newly created sales position. Holderith was a corporate vice president at UBS Financial Services, where he worked for nine years.

Masemer Returns as VP At Touchstone Investments

Sam Masemer has returned to Touchstone Investments as vice president, institutional business development. In this position, he is in charge of selling the Touchstone and Constellation mutual funds to institutions and intermediaries, including family offices, private banks, consultants and registered investment advisors. He will also monitor and select sub-advisors.

Masemer was a regional vice president and wholesaler at the company between 2001 and 2005. He most recently served in the same capacity at AXA Enterprise Fund Distributors and has also worked for Rochdale Investment Management as a senior wholesaler and as an internal wholesaler for ING Variable Annuities and Delaware Investments.

"Sam's experience and proven track record are great assets, particularly as Touchstone expands its presence in the institutional market," said Jim Grifo, president of Touchstone Investments. "We are excited to welcome him back as part of the team."

Elias Asset Management Selects Whistler as CIO

Elias Asset Management has tapped Lawrence V. Whistler as chief investment officer. He had been a partner for more than two years at registered investment advisor O'Bannon, Davis & Whistler. Before that, he was a bond trader for 10 years at Merrill Lynch, and before that, assistant controller at S.J. McCullagh.

"We are delighted to add Larry to our management team," said Thomas S. Quealy, Jr., president and chief operating officer of Elias Asset Management. "He possesses a tremendous amount of experience gained through a wide variety of positions within the financial services industry, and we're very excited to bring that wealth of experience to work for our clients."

Whistler said he is looking forward to helping the firm build on its reputation for "excellence in managing wealth" over the past quarter century by expanding and enhancing its products and services to better serve existing clients and grow

the business.

Morningstar Names Chen President of Ibbotson Unit

Morningstar has appointed Peng Chen president of Ibbotson Associates, a registered investment advisor and wholly owned subsidiary of Morningstar. Chen replaces Mike Henkel, who will serve as a consultant through June of next year.

Chen will also continue serving as chief investment officer for Ibbotson, reporting to Tao Huang, chief operating officer of Morningstar.

Morningstar Chairman and Chief Executive Officer Joe Mansueto praised Henkel for helping integrate Ibbotson into Morningstar and said Henkel had decided to do something new. Noting that Chen has been with the company for nine years, Mansueto called him "a respected researcher and one of the foremost authorities on asset allocation. He played a key role in helping to build Ibbotson's business and contributed to the development of several Ibbotson products, particularly its investment consulting and 401(k) advice and managed retirement account services."

(c) 2006 Money Management Executive and SourceMedia, Inc. All Rights Reserved.

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