November 21, 2005
Reserve Recruits Ledford To Head up Investments
The Reserve Funds has announced the hiring of Patrick R. Ledford as chief investment officer. Ledford's new responsibilities include overseeing investments in money market funds and enhanced cash products and helping to create and manage new investment offerings at the firm.
"Patrick knows our business and has been overseeing investments in the markets we utilize for decades," said Bruce Bent II, president and vice chairman of the Reserve Funds. "He will lead our portfolio management team to continued success and his experience, expertise and knowledge with enhanced cash offerings will further support Reserve as the cash management industry leader."
Prior to joining Reserve, Ledford was with Citigroup Asset Management for 17 years, most recently as director of the liquidity management team.
Wilmington Trust Selects Ledyard for New Position
Wilmington Trust has selected Benjamin J. Ledyard to fill the new position of managing director and head of East Coast operations for the Wilmington Trust Family Office. Ledyard, who has been with the firm since 1998, has already served as a managing director, as well as a senior private client advisor.
"Our goal is to be the wealth advisor choice for high-net-worth individuals and families and the professionals who counsel them," said Rodney P. Wood, executive vice president. "Providing comprehensive family office services is integral to that strategy. For Ben, this position is the culmination of many years of personal achievement in working on behalf of our clients."
In his new role, Ledyard will be working directly with principal Howard Altman and with Wood.
FundQuest Taps Fox as Executive Vice Prez, COO
FundQuest has appointed James L. Fox to the post of executive vice president and chief operating officer. Fox, who has more than 25 years experience in the financial services industry, most recently served as EVP and CFO for BISYS Group. He has also worked at First Data Investor Services Group, PFPC and GovOne Solutions.
The position that Fox is taking on is a newly created one, and he will report directly to Bob Del Col CEO and president.
"We are delighted to have Jim aboard," Del Col said. "His breadth of experience adds an important dimension to FundQuest. He will become an essential part of our team.
BoA Promotes Nguyen as Head of Private Advisory
Bank of America Global Wealth and Investment Management has promoted Thong Nguyen as head of private advisory services. In his new post, Nguyen reports directly to John Bahnken, president of the global wealth and investment management products group.
Prior to his appointment, Nguyen headed marketing for the division, which includes the company's asset management, brokerage, private bank and premier bank businesses.
"Thong's expertise in business strategy and marketing will be crucial in the growth and delivery of our investment advisory capabilities," Bahnken said. "Under his strong leadership, private advisory services will continue to partner very closely with our client teams to provide integrated financial solutions."
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