Bank of NY boosts European pensions team

EUROPE – SEI Investments (Europe) UK operations director Tony Pedley has quit to join the Bank of New York as head of European pensions client management.

Pedley resigned from SEI after roughly two years. He has not been directly replaced, but SEI recently appointed former State Street chief technology officer for investment operations Barry Johnston as global head of operations.

According to a Bank of NY spokesperson, Pedley is not a direct replacement.

“Following the departure of Benjie Fraser, his overall responsibilities have been broken down between client management and sales. Tony has been brought in to focus on client management.”

Pedley – based in London - will report to managing director and European custody and pensions chief Robert Darmanin. He will head a 16-strong team.

Before joining SEI, Pedley was at Chase Manhattan Bank, Citibank Private Bank, J P Morgan Securities and Bank of America.

His experience is considered an excellent asset for the Bank of NY’s growing pension and custody business in Europe, Darmanin said in a statement.

“His appointment will not only strengthen the Bank’s pension team, but also provide additional expertise for the Bank as a whole.”

In other news, Hewitt Associates has appointed Allianz Group associate Alex Koriath and Hay Group international remuneration consultant Andrew Macpherson to its London consultancy practice. These are new positions.

Koriath – who joins from Allianz in Germany – was an associate in group investments for about four years. Meanwhile, Macpherson left Hay after roughly two years.

“These appointments are a direct reflection of the need for a broad base of generalist consultants that can assist with the range of investment strategies our clients now consider,” said Hewitt UK investment practice chief Andrew Tunningley.

"Alex and Andrew bring a further injection of talent to support the continued growth of our investment practice.”

Other recent Hewitt appointments include Bobby Riddaway,
Alistair Jones, Richard Lunt and Paul Richmond to Hewitt's investment team.

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