The exodus of fund firm executives coming in from the cold after trying the dotcom economy continues. The most recent returnee is John J. Pileggi who has landed as president and chief executive officer of registered investment advisor Mercantile Capital Advisors and registered broker-dealer Hopkins Plaza Securities. Both firms are units of Mercantile Bankshares.

Mercantile Capital Advisors is the investment advisor to 14 no-load MSD&T funds. The funds are distributed to the institutional and high-net worth markets.

Pileggi had left ING Funds, where he was president and ceo, last year to join startup PlusFunds. The venture targeted the hedge fund industry with the idea of creating a platform for hedge fund products. It had originally been attempting to create a hedge fund marketplace.

Pileggi will report to Wallace Mathai-Davis, chairman of the investment and wealth management group at Mercantile Bankshares Corporation. Mathai-Davis was most recently chief operating officer and cfo of OffitBank.

"I'm delighted to join a team that includes Ned Kelly and Wallace Mathai-Davis," Pileggi said in a statement. "Their presence here is an indication of just how committed Mercantile is to being a world-class player in the investment management arena. I welcome the opportunity to make a difference in an organization with a philosophy of relationship management and a culture of doing what is best for clients, rather than pushing products."

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