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FleetBoston Unit Taps New Institutional Sales Director

The asset management unit of FleetBoston Financial has hired Cornelia Kiley to head a new national sales team that will market investment products to investors with more than $200 million in investable assets, the company said.

Kiley will serve as the managing director of the unit, which is known as Columbia Management Group and has nearly $170 billion in assets under management. The company said that 39% of those assets currently come from institutional clients.

She will report to Robert Birnbaum, the firm's head of institutional marketing and distribution. Kiley worked most recently at Lend Lease Real Estate Investments where she was chief marketing officer. She has also worked at Chase Asset Management.