People Moves Roundup

Cambridge Associates promotes two longtime leaders, State Street gets a new COO, and more.

Cambridge Associates Announces Global Executive Promotions

Global investment firm Cambridge Associates today announced the promotions of two long-standing leaders: Noel O’Neill to president and head of global investing, and Ashby Hatch to head of global investment research.

O’Neill will oversee the firm’s research and four client practices, which are endowments and foundations, pensions, private clients, and the outsourced investment (OCIO) business CA Capital Management. O’Neill joined Cambridge Associates in 1995 and most recently served as head of global investment research.

Hatch, who joined the firm’s research team in 1993 and previously served as head of public investments research, has assumed O’Neill’s former responsibilities overseeing all private and public asset class research across the firm. She will lead Cambridge Associates’ global efforts to continue to identify and build relationships with the investment managers and partnering with investment teams to integrate the best ideas into clients’ customized portfolios. With Hatch’s promotion, female representation on Cambridge Associates’ global executive leadership team is at 50%. Eric Thielscher, a 12-year veteran, has been promoted to head of public investments research., assuming Hatch’s previous role.

State Street Names Lou Maiuri as its Chief Operating Officer

State Street Corp.’s board of directors has appointed Lou Maiuri, previously head of State Street’s global markets and Exchange businesses, to the role of chief operating officer.  In this capacity, he will have overarching responsibility for State Street’s IT, global delivery, global exchange, Charles River Development, and product teams. Maiuri will continue to serve on State Street’s management committee and report to President and CEO Ron O’Hanley. 

Last year, State Street brought together all of its client-facing activities, including service, relationship management, and sales, under the leadership of management committee member Andrew Erickson to enable a more seamless client experience and consistent touchpoints across the globe. This organization includes the newly formed global clients division led by Donna Milrod. 

Since rejoining State Street in 2013, Maiuri has held leadership roles with increasing responsibility and was instrumental in the company’s recent acquisition of Charles River Development as part of its front-to-back investment servicing platform strategy.  Prior to State Street, Maiuri held various roles at BNY Mellon including deputy chief executive officer of asset servicing, head of the global financial institutions group within the asset servicing business, and also as a member of the operating committee.

Earlier in his career, Maiuri held the roles of chief operating officer and chief executive officer of Eagle Investment Systems LLC and worked at Fidelity Investments in both the fixed income and equity investments divisions. More than two decades ago he served as a vice president in technology at State Street. Maiuri chairs State Street’s Professional Women’s Network, the company’s largest employee resource group.

Liz Nolan, currently CEO for State Street in EMEA, will assume responsibility for global delivery, managing the company’s global operations and infrastructure that supports clients in 26 countries and more than 100 markets worldwide. Nolan follows Jeff Conway in this role, who is leaving State Street after a more than 30-year career. Nolan will retain her EMEA CEO and UK responsibilities until a successor is appointed. Karen Keenan, chief administrative officer, has expanded her responsibilities to include oversight for State Street’s global markets business, having led the group earlier in her career.  She will continue to report to O’Hanley.

Vontobel Quality Growth Expands Client Portfolio Manager Team

Vontobel Asset Management announced that Grant Bughman has joined as client portfolio manager to support global client relationships. Bughman joins a team of 31 investment professionals at the quality growth boutique and will serve as a client-facing extension and ambassador of the boutique’s investment team across its long-only global equity strategies. 

Bughman brings 19 years of experience advising investors, with 14 years at UBS Asset Management, where he most recently served as the lead client portfolio manager for active equities in the Americas region, covering strategies including emerging markets and US equities. Bughman holds a bachelor’s degree in business administration from James Madison University.

RSA Announces Charlotte Jones as New CFO

RSA has announced the appointment of Charlotte Jones as chief financial officer. Jones replaces Scott Egan, who moved to become CEO of RSA’s UK & International Division on February 5. Jones will serve on the board as an executive director, reporting to group CEO Stephen Hester. Jones is expected to take up the CFO position by summer.

Jones is currently a non-executive director of RSA and member of the group audit and board risk committees. Her executive role is as CFO of Jupiter Fund Management plc, which she will leave to take up her new role at RSA.

J.P. Morgan Asset Management Recruits New Sustainable Investing Head Jennifer Wu

J.P. Morgan Asset Management announced the hiring of Jennifer Wu as global head of sustainable investing.  Wu joins J.P. Morgan from BlackRock, where she was a member of its sustainable investing team. She will also lead J.P. Morgan’s sustainable investing leadership team, a global team of senior leaders focused on sharing best practices for sustainable investing across asset classes. Wu will be based in London.

Prior to joining BlackRock in 2014, Wu worked for the Asian Development Bank (ADB) in the energy sector of the Central and West Asia Department and was responsible for infrastructure project finance and energy sector reform. She started her career in venture capital and private equity, focusing on equity investments in technology and renewable energy in Asia as a research analyst and subsequently a portfolio manager.

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