Progress Investment Management Company has hired a new CIO to replace Clayton Jue, who is leaving the firm to pursue other interests. Donna Gilding will leave her position as CIO of the New York City Comptroller's Office to head up investing at Progress.

Gilding's experience with institutional money management helped her land the position. She oversaw the management of the City's five pension funds, totaling approximately $85 billion in assets under management.

San Francisco-based Progress is a Liberty Financial company with $4 billion in assets under management.

A replacement for Gilding at the Comptroller's office will be named next year, after the new comptroller, Bill Thompson, is sworn in on January 1, 2001.

"They're going to be in discussions with the new comptroller coming in. In the meantime, things will be going through Jane Levine, deputy comptroller for pensions," said a spokesperson for the comptroller's office.

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