March 1, 2004
T. Rowe Price Hires Moreland As New Chief Financial Officer
T. Rowe Price has hired Kenneth V. Moreland to be its chief financial officer.
Moreland, 47, succeeds Cristina Wasiak, 50, who stepped down as chief financial officer at the end of December but has remained with the company as a vice president.
Moreland is to join the Baltimore investment company on March 8. With more than 20 years of accounting, finance and treasury management experience, Moreland most recently was chief financial officer at RTKL Associates, a Baltimore international architectural firm. Previously, he was a client service partner at Coopers & Lybrand. He also had a two-year accounting fellowship with the Securities and Exchange Commission.
T. Rowe Price is a global investment management company that had $190 billion of assets under management at Dec. 31.
Morgan Stanley Names Two New Managing Directors, in Global, Instl.
In a pair of moves, Morgan Stanley named Eric P. Johnson as managing director and head of institutional business, and tapped Patrick Bannigan as managing director and head of global product development.
Bannigan will report to William M. Ennis, president of global services, whom he previously worked for at Evergreen Investments. Johnson, who comes to Morgan Stanley from Sound Shore Management, will report to Michael Kiley, managing director and head of U.S. and America's distribution for Morgan.
Johnson has 23 years of experience in the financial services industry, while Bannigan has 14.
"Patrick is a proven leader in financial services, and we look forward to adding his valuable industry insight and leadership," Ennis said of Bannigan.
Fort Named Director, CIO Of The Reserve Funds
The Reserve Funds has appointed Robert Fort, Jr. director and chief investment officer.
Fort, who joins the firm from State Street Global Advisors, has more than 19 years of experience managing and generating fixed-income assets.
Fort will have a leading role in molding the firm's investment policies as a member of its investment policy committee. He will also hold responsibility for the execution of its strategies.
Fixed-income investment activity, including portfolio construction, strategy, analysis, risk management, research and trading, as well as economic forecasting, all fall under his oversight at the firm.
"Reserve has experienced tremendous growth in both new and existing markets recently. The specialized expertise that Mr. Fort brings to the table will help us keep up our momentum, and exceed the expectations of our growing investor base," said Reserve President Bruce Bent II.
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