Post-Deal, a Fund Chief Moves On
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Wednesday, December 02, 2009

Post-Deal, a Fund Chief Moves On

In the wake of PNC Financial's acquisition of Allegiant Asset Management's parent, John Abunassar has moved on. Abunassar, who had been president and CEO of Allegiant, joined Guidance Capital LLC, a manager of funds of hedge funds, last month, The MFWire has learned.

John Abunassar
Guidance Capital LLC
Reached for comment, Abunassar told The MFWire he joined Guidance Capital's Chicago office as partner on November 1.

PNC's acquisition of Allegiant's parent, National City, closed at the end of last year. Three months ago, PNC announced it was merging Allegiant with PNC Capital Advisors Inc. to form a new entity called PNC Capital Advisors LLC. The MFWire reported at the time that Abunassar was leaving the firm. Kevin McCreadie, who has been PNC Capital's top executive since 2004, retained his role in the combined organization.

Abunassar joined Allegiant in 2004 as an executive vice president of its institutional business. He was promoted to CEO in 2005.

Prior to his stint at Allegiant, Abunassar spent 11 years with Banc One Investment Advisors. Earlier, he worked at The Capital Control Group and Hewitt Associates.

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