Four fund families controlled by Bank of America announced that they have named Mary Joan Hoene as their new chief compliance officer in accordance with the new Securities and Exchange Commission mandate.
In this newly created position, Hoene will work with the boards of trustees of the Columbia Funds, the Nations Funds, the Galaxy Funds and the Liberty All-Star Funds, with particular focus on the funds compliance programs and the duties and performance of their service providers.
Hoene will report directly to the fund boards and work closely with top-level executives at Columbia Management, the investment management arm of Bank of America, and Charles Bowman, BoAs principal compliance executive.
Hoene most recently worked as a partner for law firm Carter, Ledyard & Milburn , representing exchange-traded investment companies, fund sponsors, investment advisors and mutual fund independent directors. Earlier in her 30-year career, she served as associate director and deputy director of the SECs division of investment management.
"The independent trustees of the funds conducted an extensive search and were fortunate to recruit Mary Joan Hoene, whose broad and extensive experience make her a perfect fit for this significant new position," said Janet Langford Kelly, a trustee of the Columbia Funds, who played an integral role in Hoenes selection.
The four fund families have a combined $221 billion in assets under management as of June 30.