October 30, 2006
Envision Promotes Kan to President, Jones to EVP
Envision Financial has promoted Tim Kan from chief technology officer to president, a position in which he will focus on legal, financial and administrative issues. Satnam Gambhir, formerly president and chief executive officer, will retain the title of CEO. Kan and Gambhir founded the company in 1994.
Additionally, the company has promoted Brian Jones from senior vice president of strategic planning and business development to executive vice president.
Envision said it is making the changes to prepare for the rapid growth it expects in the coming years. "With the recent growth of the company, we felt that having Mr. Kan in the president's role would allow us to more efficiently pursue new opportunities," Gambhir said.
Kan previously was chief software architect at StockMate Financial Systems, now owned by ADP, where he focused on transfer agent software and market data system design and development. Before joining Envision, Jones worked at Federated Investors and Fidelity Investments.
BoA Unit Recruits Jones to Serve as Distribution Chief
Columbia Management, the investment management arm of Bank of America, has named the co-president of Robeco Investment Management its head of distribution.
Michael A. Jones will assume the newly created post in mid-November. The company said he will oversee institutional and intermediary distribution and that although he will have overall responsibility for both sales channels, there is no plan to merge the two. The institutional and intermediary sales teams will continue to operate with relative independence.
Jones was co-president and senior managing director at Robeco, on its management committee and chairman of its product review committee. Before that, he was the chief operating officer at Boston Partners Asset Management.
Allianz Taps MacDonald to Build, Lead Income Unit
Allianz Life Insurance has retained Robert W. MacDonald, principal of CTW Consulting, to build and lead a new business that will create retirement income products. MacDonald retired as chairman and CEO of Allianz Life in 2002. He previously founded and served as CEO of LifeUSA. The new company, Allianz Income Management Services, was launched this past August. Its only business, MacDonald said, will be to "sell income" through variable and fixed income annuities.
DWS Scudder Hires Beck As Head of Product Mgmt.
DWS Scudder, a division of Deutsche Asset Management, has hired Douglas Beck as head of product management, reporting to Axel Schwarzer, head of DWS Scudder. Beck comes to the firm from UBS Global Asset Management, where he was executive director, product management, and president of the UBS mutual fund family. With more than 16 years of experience in asset management, Beck previously worked at Merrill Lynch and Raymond James. "Delivering high-performing and innovative products that leverage our global investment platform is essential to our brand," Schwarzer said.
(c) 2006 Money Management Executive and SourceMedia, Inc. All Rights Reserved.