Monday, November 24, 2008

Babson Capital promotes execs Finke and Noreen

By Mass High Tech Staff

Babson Capital Management LLC, an investment management firm with local offices in Boston and Springfield, has named Thomas Finke as chairman and CEO and Clifford Noreen as president. The new appointments take effect on December 1, 2008.

Finke, who will also assume the role of executive vice president and chief investment officer of Massachusetts Mutual Life Insurance Company, held the role of president at Babson Capital. He takes over his new positions from Roger Crandall, who now serves as MassMutual’s president and chief operating officer. Finke previously served as co-founder and president of First Union Institutional Debt Management, before the firm was bought by Babson Capital in June 2002. Prior to that, he worked for First Union Securities and Bear, Stearns & Co.

Finke graduated from Duke University with an MBA degree and from Univerity of Virginia with a bachelor’s degree.

Noreen has worked for Babson Capital since 1985, shifting positions from private placement analyst, head of the High Yield Team and head of the Public Corporate Credit Group. Noreen graduated from American International College with an MBA degree, and from the University of Massachusetts with a bachelor’s degree.

Babson Capital operates with almost $109 billion under global management.