He may be out of the fund business for now, but Osbert Hood is still moving up. The former CEO of Pioneer Investment Management is already president of institutional asset manager MacKay Shields, and he's about to become CEO, too. Hood left Pioneer in January to become the New York Life Investment Management subsidiary's first president.

According to a NYLIM release, 15-year CEO Ravi Akhoury will pass MacKay's reins to Hood on July 1 while staying on as chairman. Hood also joins NYLIM's executive and investment committees, and will report directly to NYLIM president and CEO Brian A. Murdock.

Pioneer has suffered several high-level departures in recent months. Bond manager Margie Patel left in April to join Evergreen Investments (see "Pioneer's High-Yield Fund Changes Hands", April 3, 2007), and earlier this month, executive vice president and distribution chief Kevin Rowell will be leaving Pioneer on June 30. (see "Pioneer Sales Chief Pulls Up Stakes", June 11, 2007) 

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