US - WestAM, the institutional investment arm of German bank WestLB - has strengthened its US sales team with the appointment of Robert Formisano as a director.
Formisano will be based in San Francisco responsible for developing and managing relationships with major corporate and public retirement funds, foundations, endowments and other institutions in the Western region of the US.
He joins the firm from Morgan Stanley Investment Management’s San Francisco office.
Before Morgan Stanley, Formisano was senior vice president at Husic Capital Management, also in San Francisco. He also spent seven years as a senior vice president with consulting firm Callan Associates.
By Madhu Kalia
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.