Thomas Florence has joined Morningstar Associates of Chicago as president of its institutional services division. Florence was previously senior vice president and director for Pilgrim Baxter and Associates of Wayne, Pa. Jim Wironen, formerly senior vice president of retirement services at Morningstar, has been promoted to president of its retirement services division. Wironen's division focuses on the individual investor as well as plan sponsors, while Florence's business unit serves the mutual fund, banking and insurance industries.

Al Capra has joined Putnam, Lovell, de Guardiola & Thornton of San Francisco as managing director for research, a new position at the financial services investment banking firm. Capra was previously senior vice president at Keefe, Bruyette & Woods of New York.

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