Ted Truscott, Zurich Scudder Investments CIO has jumped ship to become the CIO for American Express Financial Advisors, the Minneapolis-based asset management arm of American Express, the company announced today.
Truscott ended his nine-year career with Zurich Scudder and will take over as Amexs CIO effective tomorrow. During his career with Zurich Scudder, Truscott first served as a portfolio manager for several of the firms Latin American funds and later became head of the companys equity research team. Truscott was named CIO of Zurich Scudder nine months ago.
In his new position with American Express, Truscott will oversee the firms 350-member investment department, which has $261 billion in assets under management, according to the company.
He fills a position that was left vacant in April when Peter Anderson retired. Truscott began his career in financial services 18 years ago with Chemical Bank of New York.
American Express Financial Advisors distributes its insurance, investment and savings products through a network of more than 11,000 advisors and its online brokerage.