PFM Asset Management has appointed Robert Cheddar and John Molloy as the managing directors of the firm, Pensions & Investments reports. The duo has been promoted to the position of managing director from senior managing consultants. The pair will also retain their current responsibilities. Cheddar manages more than $6 billion in client assets, while serving as the firm’s chief credit officer and chairman of PFM’s credit committee. Malloy is a lead professional on key accounts, and serves as a member of the firm’s investment committee.

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