American Century Names New Portfolio Managers
American Century Investments has made a series of changes to its investment teams managing U.S. growth equity and fixed income funds.
Stafford Southwick has been promoted to portfolio manager for the New Opportunities and New Opportunities II portfolios. Prior to this, he served as a senior investment analyst for the firm. He joined American Century in 2001.
Ken Salinger, vice president and senior portfolio manager for fixed income, is leaving the firm. He was lead manager on the Arizona Municipal Bond, Florida Municipal Bond and Tax-Free Bond funds. Robert Miller, vice president and portfolio manager, will now manage the Tax-Free Bond Fund. Alan Kruss, vice president and portfolio manager, will now manage the Arizona Municipal Bond and Florida Municipal Bond funds, as well as the California Limited-Term Tax-Free Fund.
Todd Pardula, vice president and portfolio manager, will be taking on the role as lead manager of the Tax-Free Money Market Fund that Kruss previously managed. Denise Latchford, vice president and senior portfolio manager, becomes lead manager for the Government Agency Money Market Fund, also a fund that Kruss managed.
Adams Becomes President And CIO of Munder Capital
John Adams has been selected to serve as Munder Capital Management's new president and chief investment officer. He is replacing Enrique Chang, who left Munder last month to work at American Century as the senior vice president and CIO for international equity.
Adams will now be responsible for the daily management of Munder, and will continue to be on the management team of the Munder Large-Cap Value Fund and Munder Balanced Fund. However, Joseph Skornicka will now be the lead portfolio manager for the two funds.
Before his promotion, Adams was a managing director and CIO for equities, and was responsible for all equity products and equity portfolio management teams. He has been with Munder since 1987.
Phoenix to Head Putnam's European Distribution
Joseph T. Phoenix of Putnam Investments has been promoted to head of European distribution, and will be moving to Putnam's London office, where he will report to Managing Director Jeffrey F. Peters.
Phoenix joined Putnam in 1989, from Kemper Securities, where he was a regional marketing director. He started with Putnam as a wholesaler, and was then named senior vice president, eastern division sales manager. He was later promoted to managing director.
"Joe is a seasoned, very capable Putnam executive who has a deep understanding of our company, our culture, our clients, our investment capability and the industry," Peters said.
Merrill Lynch Europe Hires Saviotti as Vice Chairman
Merrill Lynch has hired Pier Francesco Saviotti as senior advisor to Merrill Lynch Italy and vice chairman of Merrill Lynch Europe.
Saviotti will report to Andrea Orcel and Osman Semerci, co-presidents of Europe, Middle East and Africa Global Markets & Investment Banking. He will be based in Milan. Before joining Merrill, Saviotti was general manager and head of credits for Banca Intesa. Prior to that, he spent 38 years at Banca Commerciale Italiana, where he served as general manager and CEO from 1997 to 1999.
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