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Rating:Rydex Marketer Jumps Ship Not Rated 4.1 Email Routing List Email & Route  Print Print
Wednesday, May 02, 2007

Rydex Marketer Jumps Ship

Reported by Erin Kello

Rydex Funds has lost its number two marketing executive even as uncertainty over the possible sale of the mutual fund firm is causing employees to test the employment waters, say industry sources.

Rick Kendrick recently signed on with Ameriprise's Riversource Funds to head corporate communications and report to the director of marketing at that fund group, according to industry sources. Ameriprise is a publicly traded spin-off from American Express.

An Ameriprise spokesperson confirmed that Kendrick has joined the mutual fund firm, but was unable to immediately provide his title or details about his duties. A Rydex spokesperson did not return calls for comment.

Kendrick may not be alone in leaving the Rockville, Maryland-based fund firm. Since word leaked that Rydex' owners hired Goldman Sachs to find a buyer, resumes have been flowing around the industry say sources.

One headhunter recently told the MFWire that dozens of resumes from Rydex employees have crossed his desk in the last few weeks. 

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