Bob Peterson, the investment manager for a $5.2 billion bond portfolio at Marshall & Ilsley Corp. in Milwaukee, plans to leave the firm as part of a restructuring of his position. Peterson says upper management is looking to fill his role with someone who has broader treasury management skills to meet the company's growing asset base. M&I's overall assets under management have grown to $34 billion from $22 billion since he joined roughly eight years ago. "That puts greater pressure on the treasury area, and it's a matter of adding a finance or treasury professional [to manage] the entire balance sheet, in terms of its effects on the entire company," he says. While he has an investment background, the firm is looking for someone to deal with broader accounting and interest-rate risk issues, Peterson says. He declined further comment and Bob Nenno, a firm spokesman, says it does not comment on personnel issues.
About 75% of the portfolio Peterson manages is invested in mortgage-backed securities to match Marshall & Ilsley's liabilities. Peterson says he will leave in the next 30 days and is looking for a position on the buy-side, preferably in the Milwaukee area.