March 19, 2007
OppenheimerFunds CIO To Also Serve as President
Kurt Wolfgruber, chief investment officer at OppenheimerFunds, has been promoted to president. Wolfgruber will retain his responsibilities as CIO while also taking on the added oversight in the president's role for the company's retail and wealth management units.
John V. Murphy, previously president, chairman and CEO, remains chairman and CEO.
Reporting to Wolfgruber now are Donna Winn, president of OFI Private Investments, and Richard Knott, president of OppenheimerFunds Distributor.
"OppenheimerFunds has experienced significant growth over the last five years, and we expect to continue to grow our core mutual fund business as well as our other business lines," Murphy said. "Kurt's new responsibilities will help us achieve our goals by deepening the management resources we can apply to two key businesses and increasing alignment between investments and distribution."
Wolfgruber joined OFI in 2000 as director of domestic equities and became CIO in 2003. Before that, he worked for 26 years at JPMorgan Investment Management in a variety of positions.
American Century Names CFO, General Counsel
American Century Investments has appointed John W. Zindel chief financial officer and Charles A. Etherington general counsel. Zindel was previously senior vice president of finance and replaces Jonathan S. Thomas, who was named president and CEO of the firm earlier this month. Etherington was previously a senior vice president and deputy general counsel. He succeeds David C. Tucker, who is now senior vice president of strategy and acquisitions.
"John, Chuck and David are proven leaders whose professionalism, integrity and commitment to excellence are an inspiration to all at American Century," Thomas said. "They complement an incredible, highly skilled management team, dedicated to building on the company's long tradition as a premier investment manager."
Ponstingle, Black Accept Sales Posts at Touchstone
Timothy D. Ponstingle has joined Touchstone Investments as national accounts director, in charge of broker/dealer relationships, and Robert Black is now with the firm as an external wholesaler, in charge of the Mid-Atlantic region.
Ponstingle, who has more than 15 years of experience in the financial services industry, comes to the firm from Allegiant Funds, where he was a regional vice president and sales director. Fluent in German, he negotiated sales commissions and new business development for G.T. Global Fondsservice in Germany and Austria prior to Allegiant.
Ponstingle added: "Touchstone has a powerful fund lineup. I am excited to tell the Touchstone story and use our sub-advised model as a differentiator in the marketplace."
Black has more than 13 years of experience in business development, marketing and accounting and comes to the firm from Enterprise Fund Distributors, where he was regional vice president for the Mid-Atlantic region. Before that, he was an investment representative at R. Meeder & Associates and a mutual fund accountant at BISYS Fund Services.
(c) 2007 Money Management Executive and SourceMedia, Inc. All Rights Reserved.