Fred Alger Management has brought another one of its former employees back to the fold and more are expected to follow, said Jim Connelly Algers 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.
Ryan will likely be joined by at least two other former Alger execs who are currently negotiating their return to the firm, Connelly said. Alger will announce "a significant" addition later this week and is talking with several of its former executives, he said.
Ryan left Alger and began working with Prudential Securities as a senior retail trade analyst in 1992. She has twice been awarded The Wall Street Journals All-Star Award for her stock picking abilities and was also given the award for earnings estimate accuracy.
Ryan began her career with Alger in 1987 as a research associate, made her way through the firms in-house training program and earned her Chartered Financial Analyst license. She climbed from research associate to senior analyst in her tenure with the firm before leaving for Prudential.
"While I will miss my friends and colleagues at Prudential and am very proud of what we accomplished together, the decision to rejoin Fred Alger Management is like coming home for me," Ryan said, in a statement. She will resume her career with Alger Oct. 15.
On Sept. 19, the firm announced that Dave Hyun, a former portfolio manager with Alger who had left the firm to join OppenheimerFunds, was returning to become the manager of Algers Spectra, Capital Appreciation and American Asset Growth funds. (See MFMN 9/24/01)