Money Management Executive Latest News

INVESCO Funds Group has promoted Stuart Holland to manager of institutional sales, filling a vacancy left after Tom Kolbe was named national sales manager earlier this year, the company said.

Boston-based CDC IXIS Asset Management North America is combining its managed accounts business with its mutual fund businesses to create CDC IXIS Asset Management Advisors Group, the firm said last week.

Diana Scott has been named senior VP of direct distribution for the retail sector at John Hancock Financial Services, the firm said last week. Nine other employees have been elected to senior offices. The decisions were made by the firm's board of directors in an ordinary company review, according to a spokesman. None of those who were promoted are replacing anyone at the company, the spokesman added.

Asset manager Evergreen Investments has tapped Andrew Clipper to oversee its distribution of separate accounts.

FBL Financial Group, the West Des Moines, Ia., holding company that distributes annuities and mutual funds, announced last week that it has elected Craig Lang to chair its board of directors.

PFPC Financial Services Group, the nation's largest provider of transfer-agent services to the mutual fund industry, said last week that it hired Daniel Kalish and Eric Pisauro as directors of alternative investment services.

Bank of Montreal's plan to offer online services in conjunction with walk-in centers may be a smart move considering that the online sales channel for mutual funds has withered in recent years.

How magazines compile their rankings and lists varies. Usually the lists are generated from objective, numbers-based criteria, observers say.

American Skandia Investment Services has reinstated Fred Alger Management as subadvisor of two of its funds, the company announced today. The firm also announced subadvisor changes for four other funds.

OppenheimerFunds will offer a qualified 529 program targeted to investment advisers. Called Scholar’s Edge, the program will be managed by State Street Corp. subsidiary Schoolhouse Capital LCC and will offer funds from both State Street and OppenheimerFunds.