As reported by The MFWire
on Monday, David Linton
, Van Kampen Investments'
has left the firm, and that product and marketing head Elizabeth Hughes Eginton
, has joined
Morgan Stanley Smith Barney.
Turns out they're not the only high-level executives who won't be joining Invesco, whose
purchase of Morgan Stanley's retail asset management business, including Van Kampen, is set
to close in the middle of the year.
| Jerry Miller|
, president and CEO of Van Kampen, is leaving when the deal closes, according to an internal
memo obtained by The MFWire
. (see the complete memo below)
"Jerry Miller has informed me of his decision to leave Van Kampen following the completion of the sale of our retail asset management business to Invesco," Morgan Stanley's Stu Bohart
wrote in a January 13 memo
to employees. "In order to ensure that we maintain a seamless transition and integration process, Jerry will continue to lead Van Kampen through the close of the Invesco transaction, which is expected to occur in mid-2010."
| Andrew Schrerer|
Managing Director of Intermediary Distribution
Meanwhile, Andrew Schrerer
, Van Kampen's managing director of intermediary distribution, will
become head of Invesco Aim's RIA channel, according to an Invesco Aim insider.Van Kampen's head of
wirehouse relationships, Jon Abrahamovich
, will take on the role of regional sales manager focusing
on wireshouses at Invesco Aim. For his part, Brian O'Connell
, who runs the internal sales and support
for national accounts at Van Kampen, will head up the internal sales desk dedicated to the
wirehouse and broker-dealer channel at Invesco Aim.
Both Van Kampen spokeswoman Erica Platt and Invesco Aim Ivy McLemore declined to comment
for this story.
January 13, 2010
To: MSIM Core Employees
From: Stu Bohart
Jerry Miller has informed me of his decision to leave Van Kampen following the completion of the sale of our retail asset management business to Invesco. In order to ensure that we maintain a seamless transition and integration process, Jerry will continue to lead Van Kampen through the close of the Invesco transaction, which is expected to occur in mid-2010.
As President and CEO of Van Kampen since 2008, Jerry has made significant improvements to Van Kampen’s overall platform – driving considerable development and enhancement of the product line; building on the firm’s world-class distribution network and long-standing client relationships; and increasing recognition of Van Kampen in the marketplace as an investment performance leader. While Jerry has led Van Kampen, performance across investment strategies has substantially improved, with the majority of our equity assets performing above the Morningstar median in the 1-, 3-, 5- and 10-year time periods.
Jerry’s contributions have helped to position the business well for future success with our partners at Invesco, and we are excited about the opportunities ahead for our fund shareholders and employees.
Please join me in thanking Jerry for his dedicated service to Van Kampen, its clients and its people and wishing him well in his future endeavors following the close of the transaction.
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