There is a new top operating officer at Integrity Mutual Funds. The Minot, North Dakota-based has named Mark R. Anderson as president and chief operating officer. Anderson assumes the duties previously retained by founder Robert Walstad who will remain as chairman and chief executive officer. The firm also hired Jerry J. Szilagyi as senior vice president for Business Development.

Walstad had retaken the duties last September after Richard Olson, then-president, was killed in an automobile accident.

Anderson already is familiar with Integrity, having served in various executive positions at the firm from 1995 to 1999. He was most recently a personal trust officer at Wells Fargo Bank North Dakota.

"We are extremely pleased to have Mark Anderson return to the company in a senior management role. He knows the business and is vitally acquainted with Integrity's operations", said Walstad in a statement.

Meanwhile, Szilagyi takes the title of senior vice president at Integrity Funds. He will also continue to serve as the president of Abbington Capital Group, a strategic advisory and corporate finance services to businesses in the financial services industry that he founded in 1998.

Until earlier this year, Szilagyi was executive vice president of Orbitex Financial Services Group.

"The addition of Mark Anderson and Jerry Szilagyi is designed to position Integrity for growth," Walstad said. "While Mark will manage the day-to-day operations of the company, Jerry will focus on developing strategic growth initiatives. Jerry has assisted in guiding Integrity in the past as a consultant, and it naturally follows that his close involvement and broad industry contacts will be very valuable in his efforts to help Integrity grow."  

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