Responding to civil fraud charges, FleetBoston Financial has put eight executives on leave. They include James Tambone and Louis Tasiopoulos, co-presidents of Columbia Funds Distributor, the fund distribution unit of FleetBoston, The Wall Street Journal reports this morning.

An attorney for Tambone confirmed that his client has been put on leave but said he had always been "strongly against disruptive market timing."

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.