Moving Up

* Northern Trust Corp. in Chicago has named William Knapp managing director, personal investment management. In this new position, Mr. Knapp, 41, will focus on investment strategy, asset allocation and investment process.

He previously was the London-based managing director and head of global investment strategy for Citigroup Asset Management of Stamford, Conn., and Citigroup Private Bank of New York.

* The Federal Reserve Bank of New York has appointed Loretta E. Lynch, 43, to a three-year term as a director.

The nine members of the bank’s board of governors oversee the management of the reserve banks and branches, and act as a link between the government and the private sector.

Ms. Lynch is a New York-based partner in Hogan & Hartson LLP of Washington.

* Mutual Service Corp. in West Palm Beach, Fla., has promoted Susan L. Coates to senior vice president and director of operations.

Ms. Coates, 55, is responsible for the management of the operations department, including training, supervision and daily oversight of the independent broker-dealer’s service, trading, commission and mail centers. Ms. Coates has held a number of management positions during her 17 years with MSC.

* Innovest Strategic Value Advisors of New York has hired Bijan Foroodian, 35, as its Toronto-based director of quantitative analysis. Mr. Foroodian, a chartered financial analyst, will provide continuing enhancements to the firm’s quantitative investment models, as well as help create new products.

He previously worked in London and Tokyo as vice president of quantitative research for London-based Dresdner Kleinwort Wasserstein.

* Stephens Inc., an investment banking and brokerage firm in Little Rock, Ark., has hired David Morton as a vice president with the equity trading desk in Boston.

Mr. Morton, 40, previously was senior vice president and head of the trading desk in Boston with Fleet Securities Inc. of New York.

* CDC IXIS Asset Management North America Inc., a New York-based provider of investment services to institutional clients, has promoted the senior compliance officer in its Boston office, Beverly J. DeWitt, 53, to senior vice president, from vice president.

* Ziegler Cos. Inc. in Milwaukee has named David G. Stoeffel senior managing director and head of its investment services group.

Mr. Stoeffel, 45, previously was senior vice president and director of mutual funds marketing with Nomura Asset Management U.S.A. Inc. in New York.

* DST Systems Inc., a Kansas City, Mo.-based provider of shareholder record-keeping services to mutual fund companies, has hired Mitch Horan as national sales manager for its retirement solutions operations.

Mr. Horan, 41, joins DST from Morgan Stanley of New York, where he was a national sales manager overseeing the delivery of defined-contribution-plan sales through the firm’s financial adviser and private-client-group networks.

* First Citizens Bank in Raleigh, N.C., has appointed Eric Teal chief investment officer for its capital management group.

Mr. Teal, 34, will direct all professional money management activities for the bank’s clients.

He previously was the Charlotte, N.C.-based director of equities for Evergreen Investments Inc. in Boston.

* DPC Management LLC of Ramsey, N.J., has named Lynda A. Rufo a partner and executive vice president. Ms. Rufo, 42, previously was a New York-based vice president with Wilmington (Del.) Trust Corp.

* Sagemark Consulting of Irvine, Calif., a division of Lincoln Financial Advisors Corp. in Fort Wayne, Ind., has hired Heather Rinaldi, 33, as a financial planner in its Cleveland office.

Ms. Rinaldi will provide retirement, estate and business succession planning, and related investment services. She previously was the regional director of client relations for ING Aetna Financial Services in Hartford, Conn.