NEWSMAKERS Banking Robert Borstelmann was promoted to area manager for the San Fernando Valley at Wells Fargo Home Mortgage. Borstelmann, who will oversee a staff of 60 home mortgage consultants, will supervise all the bank’s home mortgage activities in the region. He was previously a branch manager in the Van Nuys office of Wells Fargo Home Mortgage. Borstelmann holds a bachelor’s degree in finance from Cal State Northridge. Biotechnology Chad Therapeutics in Chatsworth has selected Earl L. Yager to the post of president and CEO. He was previously president, CFO and secretary at the company. Yager replaces Thomas E. Jones, who will step down as CEO but will remain chairman of the board. Chad also appointed Tracy Kern to the CFO position to replace Yager. Consulting Joy Y. Chen, former deputy of Los Angeles Mayor James Hahn, has joined Heidrick & Struggles International, Inc., a global executive search and leadership consulting firm. Chen will be in the firm’s education and nonprofit practice, working with nonprofits and educational institutions to identify and recruit leaders and managers. She served in the Hahn administration from 2002 to April 2004, where she led education and workforce strategy for the L.A. region. Health Care Cynthia Ann Telles, wife of Los Angeles mayoral candidate Robert M. Hertzberg, was chosen to become the next chair of the board of directors of The California Endowment, a Woodland Hills-based private health care foundation. Arthur Chen was appointed vice chair, taking the position vacated by Telles, who had been in that position since 2002. She has taught at UCLA School of Medicine and sits on a number of other boards, including California Community Foundation and the Music Center. Chen joined the Endowment in 2003 and currently also serves as the medical director of the Alameda Alliance for Health in the Bay area. Both were appointed for one-year terms. Professional Services James L. Greene has been named director of business development at CBIZ Valuation Group’s Los Angeles office. Greene’s expertise includes consulting experience in both the commercial and consumer products manufacturing industries. Prior to joining CBIZ, he served as director of marketing and business development for the Southern California economic unit of RSM McGladrey Inc.