People

Keefe Bruyette & Woods Inc., a New York-based full-service investment bank that specializes in the financial services sector, has promoted executive vice presidents Joseph Spalluto, 50, and Don Ullmann, 51, to key leadership positions within its fixed-income group.

Keefe Bruyette & Woods Inc., a New York-based full-service investment bank that specializes in the financial services sector, has promoted executive vice presidents Joseph Spalluto, 50, and Don Ullmann, 51, to key leadership positions within its fixed-income group.

The firm named Mr. Spalluto co-head of fixed-income sales, and he will also run the loan portfolio sales group.

Mr. Ullmann also has been named head of fixed-income trading and co-head of fixed-income sales.

Consulting Services Group LLC, a Memphis, Tenn.-based firm that provides investment guidance to institutions and high-net-worth families, has hired Vince Robinson, 56, to lead its private-asset-management group as director of its private-client-services group, a new position.

Previously, he was a managing partner with PricewaterhouseCoopers LLP of New York.

ING USA Annuity and Life Insurance Co. of Des Moines, Iowa, has named Michael Smith, 45, chief financial officer and chief insurance risk officer for its U.S. annuities business.

Mr. Smith, who will be based in the company’s West Chester, Pa., office, will be responsible for financial and actuarial functions in that business.

Previously, he was head of profitability and risk management for Lincoln Retirement Solutions at Lincoln National Corp. of Radnor, Pa.

ING USA Annuity and Life Insurance is a division of ING Groep NV of Amsterdam, Netherlands.

Penn Mutual Life Insurance Co. of Horsham, Pa., has hired Dennis Tender, 44, as managing partner of the company’s Maryland agency in Hunt Valley.

Previously, he was a managing partner for New England Financial of Boston.

Capital Financial Group Inc./H. Beck Inc., a Rockville, Md.-based unit of Securian Financial Group Inc. of St. Paul, Minn., has hired Violetta Pukas, 32, as vice president of business development.

Based in Chicago, she is responsible for increasing the number of independent financial advisers affiliated with the firm throughout the country.

Previously, Ms. Pukas was a national recruiting director in Chicago with Financial Network Investment Corp. of El Segundo, Calif.

John Hancock Financial Services Inc., the U.S. division of Toronto-based Manulife Financial Corp., has named James R. Boyle, 49, president. Also a member of Manulife’s executive and management committees, he will direct all phases of Hancock’s operations. Mr. Boyle succeeds John D. DesPrez III, who remains chairman and chief executive of the Boston-based unit.

Previously, Mr. Boyle was president of Hancock’s U.S. insurance operations.

Mr. DesPrez was recently named chief operating officer of Manulife with responsibility for the company’s global insurance and wealth management operations.

New York Life Insurance Co. has hired John Grady, 40, as a senior vice president responsible for the mergers and acquisitions area and the treasury segment of the company’s corporate-finance department.

Previously, he was executive vice president of global strategy and corporate development at London-based Old Mutual PLC.

WBI Investments Inc., a money management firm in Little Silver, N.J., has hired Richard Kundracik, 58, as vice president of institutional sales.

He will be responsible for increasing the distribution of the firm’s separately managed account portfolios.

Previously, Mr. Kundracik was a senior vice president, national sales manager at Denver-based Multi-Financial Securities Corp., where he worked on the institutional and retail sides of the business.

OppenheimerFunds Inc. of New York has hired Mani Govil, 39, as team leader and portfolio manager of the Main Street equity team.

Previously, he was a fundamental analyst and trader at RS Investment Management Co. LLC of San Francisco.

Third Avenue Management LLC of New York has hired Steven Johnson, 55, as a senior managing director.

He will be responsible for leading the firm’s sales effort, with a focus on developing its institutional client base.

Previously, Mr. Johnson was a partner at Grail Partners LLC of Boston, where he identified and targeted capital providers and oversaw fundraising and investor relations for two private-equity funds.