In a sign that it's fine-tuning its management structure, TowerGroup hired Maureen Hesney to serve as senior vice president of research and consulting for North America, creating a new senior- management position to oversee both the consulting and research sides of its business. Hesney will report to Mark Sievewright, TowerGroup president and ceo. In turn, all the research practice directors will report to Hesney, as well as the consulting staff.
Hesney came from Gartner Group, the Stamford-Conn.-based technology research firm, where she is credited with building up its consulting business, sources say, adding that she brings with her 30 years of business experience.
A spokeswoman for Gartner declined to comment citing privacy reasons. A TowerGroup spokeswoman confirmed the appointment but declined to provide details on Hesney's responsibilities.
"She's one way of managing the business better," says an industry source close to TowerGroup, the Needham-Mass.-based technology research and consulting firm that specializes in financial services. "It's not a change in (Tower's) strategy. She's going to look at how to grow the whole business. That's her mandate," the source adds.
The reason for hiring Hesney, an outsider who will play a senior role, is to address problems with the company's management. The firm has a "mixed-up" management structure and needed to hire someone from the outside to manage the company, comments another source. "They need someone to interface between the CEO and the (several) groups," says the source. "It's one way of getting control of the whole business," he adds.
Her direct reports will include: Jim Eckenroade, Group Director of Consumer Banking, Lee Kidder, Director of Wholesale Banking, Dan Murray, Director of Consumer Credit Research practice, Rob Hegarty, Vice President, Securities & Investments group, Bob Iati, Director of Securities & Capital markets, Dennis Ceru, Director of Retail Brokerage & Investing, Deb Smallwood, Practice Director for Insurance, James Bisker, Director for Insurance and Guillermo Kopp, Director of Financial Services Strategies and Director of Emerging Technology Solutions.
Hesney is "definitely going to be working across those areas (vertical and horizontal)," says the TowerGroup spokesperson.
TowerGroup has also hired Miranda Mizen as analyst for its Securities & Capital Markets segment, part of the firm's Securities & Investments group. Mizen was previously with Instinet Corp. where she was involved with front-office-trading and order management systems. Mizen replaces Andy Nybo, who left TowerGroup earlier this year to join MarketAxess. She will report to Bob Iaiti, Mizen who is on vacation is starting work the week of February 17 Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio