Touchstone Securities announced last week that Patrick Bannigan has joined the firm as senior vice president and officer in charge of Touchstone Investments. In that role, he will be responsible for the sales and profitability of the Touchstone Funds, including the firm's variable annuities.
Bannigan is not replacing anyone at Touchstone as the position is newly created. His responsibilities will include overseeing product development for the firm, coordinating all acquisition activities and helping to oversee cross-organizational initiatives, according to Touchstone.
Bannigan joins Touchstone from Evergreen Investments, the mutual fund unit of First Union National Bank. There, he served as senior vice president, director of strategic planning and product development. Prior to Evergreen, he was with Alliance Capital Management.