Money Management Executive Latest News

MFMarketnews.com is keeping abreast of the industry's latest developments with postings twice a day. If you didn't log on last week, here are some Web exclusives you missed:

Deutsche Asset Management has appointed former Putnam Mutual Funds CEO William Shiebler to oversee its operations in the Americas, the company said.

Hotchkis and Wiley Capital Management has hired Kent Grether as managing director, institutional marketing, for the western United States. Earlier this year, the firm rehired Pat McMenamin to serve the eastern half of the country.

AIM Distributors, Inc., the distribution arm of AIM Management Group Inc., today promoted Gene Needles to EVP, managing director of sales and Jim Stueve senior VP, director of retail sales. Both positions are newly created.

NYLIM Retirement Plan Services, a division of New York Life Investment Management, has expanded its management team with the addition of two newly created managing director positions.

As expected, Putnam Investments announced today that it will consolidate its retail mutual lineup. The firm will merge 10 funds and liquidate the $89 million Putnam Preferred Income Fund.

A survey released today by American Century showed that nearly one-third of the investors surveyed said they would consider pulling money out of their retirement accounts early if they lost their jobs.

Principal Financial Group has made two appointments in preparation for the retirement of Dennis Francis, head of Principal Capital Management.

Thomas Zidar has been appointed president and CEO of ABN AMRO Financial Services, the company said last week.

Amy Butte has left Bear Stearns, where she was a senior managing director, to join Credit Suisse First Boston. The high-profile analyst will serve as chief strategist and CFO reporting to Jeffrey Peek, vice chairman and head of the financial services division.