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Rating:Cieszko is Departing Evergreen Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, December 23, 2008

Cieszko is Departing Evergreen

Reported by Armie Margaret Lee

Peter Cieszko, who was slated to succeed Dennis Ferro as CEO of Evergreen Investments at yearend, is leaving the Boston investment manager following the close of Wachovia Corp.'s sale to Wells Fargo, Evergreen spokeswoman Laura Fay confirmed to The MFWire.

Cieszko, who heads Evergreen's global distribution arm, is departing in early January and will not be replaced, Fay said.

Evergreen will become part of the Wells asset management group led by Mike Niedermeyer.

Shareholders of Wachovia and Wells Fargo are scheduled to vote on the transaction today.

In July, Evergreen picked the 48-year-old Cieszko to take the helm of the company when Ferro retires at the end of the year (see The MFWire, July 9, 2008).

Before joining Evergreen two and a half years ago, Cieszko was the head of global distribution for Legg Mason, which he joined as part of the company's asset swap with Citigroup. Earlier in his career, he was a top executive in Citi's Smith Barney unit, where he played a key role in the wirehouse's separately managed account efforts. 

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