People Moves Roundup

PGGM gets an acting chairman, Northern Trust makes a swath of changes, and more.

Kees Beuving appointed acting chairman of the board of PGGM NV

Kees Beuving has been appointed as acting chairman of the board of directors of PGGM NV by the supervisory board of PGGM. His appointment is subject to approval by the supervisors.

Beuving will take the place of chairman Edwin Velzel, who is on medical leave and expected to be out for several months. Beuving will start in the new role on Feb. 4. Paul Boomkamp, ​​chief financial and risk officer and deputy chairman of the board of PGGM NV, is currently filling the role.

Beuving has significant experience in the financial sector, including as chairman of the board of directors of Fortis Bank Nederland, and most recently as chairman of the board of directors of Friesland Bank. Since 2014, he has been a member of the Supervisory Board of BNG Bank and chairman of the VSB asset fund board.

Northern Trust Appoints Kimberly Evans as Head of Private Capital Fund Administration in North America

Northern Trust has named Kimberly Evans head of Private Capital Fund Administration in North America, leading a growing practice dedicated to providing middle- and back-office solutions for a range of alternative asset class investment managers, including real estate, private debt, infrastructure, and both traditional and hybrid private equity funds in the region.

Evans, with 25 years of financial services experience, will focus Northern Trust’s global capabilities on a segment of the alternatives market experiencing rapid asset growth and increased demands for transparency. Northern Trust offers an integrated solution including trade management, reconciliation, risk and analytics, fund accounting, global custody, and other services to private capital investment managers.

“Kim’s experience with sophisticated investors, dedication to client service and proven ability to leverage the strength of Northern Trust’s global platform and expertise will be a powerful combination for our business,” said Peter Sanchez, head of North America Alternative Fund Services at Northern Trust. “Her appointment signals our commitment to delivering innovative solutions to investment managers across the spectrum of alternative asset classes and strategies.”

Evans joined Northern Trust in 2010, and has held senior management roles, including global head of client valuation reporting and head of the Public Funds/Taft-Hartley pensions business, with more than $800 billion in assets under custody. Prior to Northern Trust, she was a senior operations executive at major financial institutions, including the former First Chicago and LaSalle banks, and served as a consultant to community bank executives. She has been a leader in Chicago community and charitable organizations and is president of the Women in Leadership Business Resource Council at Northern Trust.

Northern Trust Appoints Paul Fyda as Head of Local Markets for Global Foreign Exchange 

Northern Trust announced that Paul Fyda has joined the Global Foreign Exchange team as head of local markets, underscoring its commitment to leadership in providing product, operational, and execution expertise in global currency trading.

Fyda joins with 20 years of experience in the foreign exchange (FX) markets. Based in New York, he works with Northern Trust’s FX desks in the Americas, Europe, Middle East, and Asia-Pacific regions and is available to Northern Trust’s institutional investor clients across the globe to provide support and guidance in operationally complex and highly regulated emerging markets.

“We are pleased to add a leader with Paul’s breadth of experience to our global FX business. Paul will work extensively with our institutional clients providing them with insights and expertise in understanding how their investment decisions may be impacted by currency trading restrictions and regulations,” said John Turney, head of Global Foreign Exchange at Northern Trust. “This further endorses our commitment to building out our innovative FX capabilities and delivering market-leading services to our clients.”

Fyda comes to Northern Trust from Brown Brothers Harriman & Co, where he focused on emerging and restricted market currencies and products. He previously held FX product and client service roles at Sungard (now FIS), BBH, and the former Mellon Bank. He has a B.A. in finance from the University of Pittsburgh. 

Mercer Appoints Key Global Wealth Leaders

Graham Pearce has been appointed Global Segment Leader for Mercer’s Defined Benefit (DB) client segment. In his new role, Mr. Pearce will set and drive Mercer’s strategy for actuarial and investment advice and services within the DB segment, and ensure focus on innovative solutions for clients. In addition, he will work to accelerate Mercer’s sale and delivery of global actuarial and pension risk management advice and solutions. This post was previously held by Benoit Hudon, who recently took on the role of UK Wealth Leader for Mercer. 

Bruce Cadenhead assumes the role of Global Chief Actuary, while continuing to serve as US Chief Actuary. As part of this role, Mr. Cadenhead will partner with Mercer’s regional Chief Actuaries to facilitate the sharing of best practices worldwide. 

Cara Williams will take on the role of Global Segment Leader for Financial Intermediaries and Family Offices, where she will be responsible for identifying new client solutions and opportunities in these fast growing market segments.

Troy Saharic has been named Mercer’s Global Segment Leader for Defined Contribution (DC) and Master Trusts. In this position, Mr. Saharic will oversee the development of solutions to help clients navigate towards DC and Master Trust solutions.

Previously, Ms. Williams and Mr. Saharic’s new duties were performed by Renee McGowan, who served as Global Leader for DC and Individual Wealth.  Ms. McGowan has been appointed Mercer’s CEO, Asia Region, effective November 1, 2018. 

Finally, following a long and distinguished career in the investment consulting industry, Andrew Kirton, Chief Investment Officer for Mercer’s Wealth Business, will be leaving at the end of March to pursue other interests. Andrew’s duties will be reallocated between Hooman Kaveh, Global Chief Investment Officer for Delegated Investment Solutions; Bill Muysken, Global Chief Investment Officer for Alternatives; Deb Clarke, Global Head of Investment Research; and Donn Cox, Alternatives Business Leader. Ms. Clarke, Mr. Muysken and Mr. Kaveh have already held their respective roles for several years.  Mr. Cox joined Mercer through the Pavilion acquisition, and was previously the global business leader for Pavilion’s alternatives business.

Rich Nuzum, President of Mercer’s Wealth business, said, “We are focused on aligning our talent to support our clients’ evolving needs and to embrace and help lead innovation in the market.  Continuing to serve DB clients remains a core focus of our business, and Graham and Bruce will provide strong leadership in this segment.  At the same time, given the explosive growth globally in individual account segments, we’ve taken the opportunity to double our leadership resource dedicated to the financial intermediaries, family office, DC and master trust segments, through the appointments of Cara and Troy.”

Capricorn Investment Group Names Michaela Edwards as Partner in New York City

Capricorn Investment Group has announced Michaela Edwards as a partner in the New York City office of the firm. Edwards joins Capricorn most recently from Norges Bank Investment Management, the sovereign wealth fund of Norway, where she spent nine years as a senior portfolio manager.  At Norges Bank, Edwards sourced, constructed, and managed a $2 billion global environmental portfolio in addition to overseeing mandates in Latin America and developed markets.

“We are thrilled to have Michaela as the newest addition to Capricorn. We look forward to benefiting from her exceptional portfolio management experience and insights on sustainable and impact investing,” said Ion Yadigaroglu, managing partner of Capricorn.

Edwards received her MSc in Investment Management from Cass Business School in London and her bachelor’s degree in International Business from Oslo University College. She is a CFA charter holder.

Curtis Walker Joins Broadstone as Senior Vice President, Acquisitions

Broadstone Real Estate, LLC, a sponsor and manager of diversified real estate investment offerings, announced that Curtis Walker has joined the firm as senior vice president, acquisitions focused on Broadtree Residential, Inc.  Based in Broadstone’s Atlanta office, Walker will lead Broadtree’s acquisition strategy and efforts.

Walker joins Broadstone with more than 30 years of experience in the real estate industry, including extensive expertise in multifamily investments, development, and dispositions. Most recently, he held the role of partner at Moran & Company, where he focused on expanding the firm’s brokerage platform in the Southeast. Previously, Walker served as director of acquisitions for Wood Partners and was directly responsible for the acquisition of approximately $750 million of multifamily investments. Walker has held other senior level positions with Trammell Crow Company, Post Properties, Fairfield Residential, and AMLI Residential.

“We are excited to welcome Curtis to the Broadstone team,” said Sean Cutt, chief investment officer. “He is a terrific fit, bringing years of experience in multifamily acquisitions, investments, and development. We are confident that Curtis will help bring Broadtree to the next level.”

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