DLJ Unit Hires Exec For Hong Kong Push
Donaldson, Lufkin & Jenrette Inc.'s on-line brokerage has hired an electronic investing consultant to spearhead its expansion into Hong Kong.Peter C. Randall, who joined the Jersey City, N.J., company on Monday, will oversee implementation of on-line brokerage capabilities, staffing, and strategic communications for DLJdirect's Hong Kong effort. A spokeswoman said a starting date has not been determined.
Since 1997, Mr. Randall has been a consultant on several projects involving the electronic linking of financial institutions to global markets. He was senior vice president and managing director of Instinet International and was chief executive of Instinet Pacific Ltd., with oversight of Instinet Hong Kong Ltd. and Instinet Japan Ltd. DLJdirect has more than 795,000 customer accounts, with more than $21.7 billion of assets.
- Cheryl Winokur
U.S. Bancorp Division Adds Mid-Cap Manager
First American Asset Management, the money management division of U.S. Bancorp, has hired a portfolio manager from a regional investment firm to oversee investing for its $361 million mid-cap fund.Mark Henneman, 38, who joined the Minneapolis banking company last week, came to First American from Advantus Capital Management in Minneapolis, where he managed four small-cap funds. He also worked at the St. Paul Cos. as manager of a $50 million-asset growth and income portfolio and co-managed a $1 billion-asset large-cap domestic equity fund.
Mr. Henneman brings to First American "portfolio management skills and significant experience in quantitative modeling and risk management techniques," said James Doak, senior managing director of equities at First American Asset Management.
First American, which has 38 open-end and 11 closed-end funds, manages $78 billion of assets.