Money Management Executive Latest News

Despite these difficult times, Putnam Investments is the fourth largest fund company in terms of assets under management. The firm continues to market aggressively, particularly to advisors, in an effort to win new assets, according to Gordon Forrester, director of marketing for Putnam Retail Management. Putnam's approach is in sharp contrast to many smaller fund companies (See Small Firms page 2).

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:

Pioneer Investment Management has named Daniel Geraci, the president of Fidelity Investments' private wealth division, as its new CEO. Geraci replaces David Tripple, who stepped down as Pioneer's CEO at the end of last month.

Fred Alger Management has brought another one of its former employees back to the fold and more are expected to follow, said Jim Connelly, Alger's EVP. Amy Ryan announced yesterday that she will rejoin her old firm as a senior V.P. and senior analyst, becoming the second alumnus of the firm to return in the weeks following the Sept. 11 terrorist attacks.

Thomas Eggers has been appointed president of the Dreyfus Corporation, it was announced last Thursday. He will replace Stephen Canter, who was named Chairman and CEO of the company in May.

New York Life Investment Management announced last week the formation of a new unit that will focus on marketing NYLIM's institutional investments to a variety of markets, including unbundled defined contribution plans, defined benefit plans, and foundations and endowments.

Steve Prostano, formerly the president and COO of Chase Asset Management and Hambrecht & Quist Funds Management, has joined FleetBoston Financial as a managing director of its private clients group.

On Sept. 18, a week to the day after the terrorist attacks on the World Trade Center and the Pentagon, staff at Financial Research Corporation, sent out a press release touting four new studies conducted by the firm. "Dear friends," it read. "It has been a week since the devastation occurred in our country and we are just beginning to consider the long-term implications for the industry.

Offering more tools and devices to enhance adviser-client relationships seems to be the name of the game these days for financial services firms and product vendors.

Social fund group Calvert of Bethesda, Md., has lured Kemal Ahmed away from his post as senior investment officer with the World Bank and has named him senior V.P. of its equities department, Calvert announced today.