Bessemer Trust Co. snapped up a Chase Manhattan bond manager to run its $2 billion domestic fixed income portfolio.
Bruce Whiteford, 41, was named a Bessemer senior vice president on Tuesday. He replaces Staats M. "Pete" Pellett, who is retiring after 20 years at the New York-based investment firm, which has $12 billion under management.
Mr. Whiteford had been a vice president and manager of domestic bond funds within Chase's Vista family of funds.
"We think there are contributions he can make in developing the overall fixed income strategy," said Timothy J. Morris, a senior executive vice president who is Bessemer's chief investment officer.
Mr. Whiteford's former boss, Susan Huang, assumes direct responsibility for the Vista U.S. fixed income funds, which manage approximately $728 million.
Ms. Huang, a vice president, is in charge of all U.S. fixed income for Chase Asset Management, which invests $30 billion in bonds for clients.