Asset management firm
Jack O’Connor, head of Pioneer’s U.S. institutional business, was scheduled to leave after last Friday. He reportedly will begin a new role at a rival fund firm next month.
Pioneer spokesman Geoff Smith confirmed the departure, saying that O’Connor is leaving to “pursue another opportunity in the institutional market. His replacement will be named shortly.”
O’Connor’s departure is the latest for Pioneer, following that of CTO Stan Wasilauski and Chris Chapin, vice president of technology.
Boston-based Pioneer has $250 billion in global assets under management, including $62 billion in the United States. In May, parent UniCredit Group announced it was considering options for Pioneer, including a possible sale.
While the auction is not expected to officially start until September, UniCredit is having problems getting bids for all of Pioneer, one fund executive says. The Italian bank wants to sell all of Pioneer but several bidders, such as MFS Investment Management, are only interested in the U.S. operations, according to sources.
“Pioneer might have to be sold in parts,” one source says. —Luisa Beltran
Tim Connors has left
Reportedly, Connors is forming a new firm focused on early stage investments in business and consumer Internet services, according to VentureWire, which did not provide additional details.
Witheiler heads to Flybridge
Occhiogrosso joins Investor Growth Capital
Neill Occhiogrosso has joined
Haden returns to USC
Pat Haden is stepping down as a partner with Los Angeles-based private equity firm
Doron joins Silver Lake
Yuda Doron has joined
SK Capital adds two
Aaron Davenport and Jim Marden have joined
FirstMark boosts staff
Andy Macdonald, Nick Marsh and Scott Switzer have joined