Starr Joins Amvescap as Chief Financial Officer
Loren M. Starr has joined Amvescap as senior vice president and chief financial officer, reporting directly to Martin L. Flanagan, president and CEO of the firm.
Starr is replacing James I. Robertson, who is remaining with the firm as executive vice president and a member of the board.
Starr comes to Amvescap from Janus Capital, where he also served as chief financial officer and senior vice president. Before that, he was with Putnam Investments as head of corporate finance and has also worked at Lehman Brothers and Morgan Stanley.
"Loren Starr is one of the most experienced financial professionals in the investment management industry," Flanagan said. "With his practical knowledge of all aspects of a public investment management company, including mutual fund expertise and corporate finance, Loren's skills will strengthen our management team as we work to build value for our clients and shareholders."
ICI Selects Amvescap CEO To Serve as Chairman
The Investment Company Institute has selected Martin L. Flanagan, president and CEO of Amvescap, as chairman of the institute for one year, replacing James S. Riepe, who will continue to serve as vice chairman of ICI.
"It has been a privilege to serve as Institute chairman, representing the industry that has served millions of investors so well for so many years," Riepe said. "Marty Flanagan is one of our industry's most talented young executives and I am pleased to pass the chair to a leader of his caliber and integrity."
As chairman, Flanagan said he plans to emphasize promoting fiduciary partnership, providing excellent disclosure, preserving the fundamental virtues of mutual fund investing, protecting investor trust and advancing the interests of funds as investors.
"I am honored that the industry has chosen me as its chairman and I am proud to be associated with an industry that has had a long history of helping investors achieve their financial goals," said Flanagan. "We must maintain our focus of putting the interests of shareholders first. I intend to foster collaboration among all parties - directors, advisors, distributors, regulators and lawmakers - to achieve the best outcome for shareholders."
Borthwick Becomes MD, Fixed Income Exec at BoA
Banc of America Securities has hired Alastair Borthwick to serve as managing director and head of investment grade debt capital markets.
He will be reporting directly to Bill White, managing director and global head of capital markets, and to Tom White, managing director and head of global credit products.
In this new role, Borthwick will be responsible for global efforts in high-grade capital markets, private placements, commercial paper and investment grade syndications.
Previously, he was with Goldman Sachs for 12 years, most recently with the investment banking division.
In addition, Katherine Davisson, also from Goldman Sachs, has been hired to work at BoA as managing director of East Coast prime brokerage sales, also based in New York.
She will be reporting directly to Scott McGregor, head of the East Coast long-short prime brokerage sales and capital introduction.
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