He may be out of the fund business for now, but Osbert Hood
is still moving up. The former CEO of Pioneer Investment Management
is already president of institutional asset manager MacKay Shields
, and he's about to become CEO, too. Hood left Pioneer in January to become the New York Life Investment Management
subsidiary's first president.
According to a NYLIM release
, 15-year CEO Ravi Akhoury
will pass MacKay's reins to Hood on July 1 while staying on as chairman. Hood also joins NYLIM's executive and investment committees, and will report directly to NYLIM president and CEO Brian A. Murdock
Pioneer has suffered several high-level departures in recent months. Bond manager Margie Patel
left in April to join Evergreen Investments (see
"Pioneer's High-Yield Fund Changes Hands"
, April 3, 2007), and earlier this month, executive vice president and distribution chief Kevin Rowell
will be leaving Pioneer on June 30. (see "Pioneer Sales Chief Pulls Up Stakes"
, June 11, 2007)
Stay ahead of the news ... Sign up for our email alerts now