David Penn joins Smith Barney, effective November, as director of Investment Products at the firm's Global Private Client Group. He will be responsible for oversight of all Smith Barney Investment products. Penn joins the firm after 21 years with Legg Mason.
Donald Nicolaisen, the SEC's chief accountant, is leaving the commission in October to return to the private sector. Nicolaisen joined the commission in 2003. He received high praise from Chairman Christopher Cox for his work on initiatives to improve disclosure and rebuild investor confidence.
Brian Belski, the widely quoted market strategist, who was laid off from Piper Jaffray in May as part of the firm's cost-cutting plan, joined Merrill Lynch in August. He is a senior equity investment strategist for Merrill's Global Wealth Management Strategy Group.
Anderson & Strudwick, a full-service regional investment firm, opened its 14th branch office in Knoxville, Tenn., in September. Rebecca Lynch was named branch manager. D. Stanley Shelton and William McCall have been named senior vice presidents. Headquartered in Richmond, Va., the firm has 140 investment professionals and support personnel.