Reserve Funds has hired Joseph T. Monagle, Jr. to help the firm sell positions in a difficult debt and credit market.

Monagle was formerly a senior asset management executive with Merrill Lynch, where he last served as co-head of global fixed income before retiring in 2000. While at Merrill, which he joined in 1977 as a money market portfolio manager, Monagle played a key role in increasing short-term assets to $130 billion and entering new global markets, including Brazil and Japan.

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