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Rating:Ameriprise Reveals Distribution Leadership at the Combined Company Not Rated 1.0 Email Routing List Email & Route  Print Print
Friday, November 13, 2009

Ameriprise Reveals Distribution Leadership at the Combined Company

Reported by Daniel Tovrov

Beth Brown, who runs retail distribution for Columbia Management, will head up retail sales for the combined RiverSource-Columbia fund family, The MFWire has learned. She will report to Mike Jones, president of Columbia Management and soon-to-be president of Ameriprise's U.S. asset management business.

Ameriprise's purchase of Columbia, announced on September 30, is slated to close in the spring. As previously reported, Ted Truscott -- president of U.S. asset management, annuities and chief investment officer at Ameriprise -- will take over the combined U.S. asset management business and Columbia chief investment officer Colin Moore will serve as CIO for the combined operation.

The MFWire has also learned that Jeffrey Peters will be the head of institutional sales for the combined organization. Peters currently serves as Columbia's senior vice president and head of global institutional distribution. He will also report to Jones.

Christopher Keating, who heads institutional sales at RiverSource, will leave the firm in the spring.

Jeffrey McGregor, president of RiverSource Distributors, will stay on and will continue to oversee distribution of RiverSource's annuity and insurance products. He will no longer be responsible for mutual fund distribution.

A spokesperson for RiverSource was not immediately available for comment. 

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