MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, August 21, 2002 Another American Century Exec Says Goodbye American Century has lost another high-profile face from its investment team to a rival. State Street Research & Management said it has landed C. Kim Goodwin as its new chief investment officer - equities. Her departure is the second high-profile change to its senior ranks this month. The loss of Goodwin comes on the heels Randall Merck's jump to Charles Schwab in San Francisco to head the brokerage's fund unit. He explained that the move was made for personal reasons, including the long-commute he had faced between San Francisco and Kansas City. Goodwin had no comment on the reason for her move. Both Merck and Goodwin have yet to be replaced at the Kansas City-based firm on a permanent basis. Robert C. Puff, Jr. is taken over both executives' duties on an interim basis. A spokesperson confirmed that the firm is in the process of replacing both executives. "Kim will be missed, but we do have a very strong team in place," said spokesperson Laura Kouri. She added that sixty percent of the firm's funds are in the top quartile for their objective. Kouri said that American Century expects to announce a replacement for Goodwin in the next couple of weeks. "We have such a strong bench internally that we will probably fill the position internally," she added. Goodwin, 43, was talked about inside the fund industry as one of the American Century executives being groomed as a candidate to take over the top slot at the investment firm. She also had the highest profile of the fund firm's investment team, including regular appearances on Louis Ruykeyser's Wall Street Week television program. Many consider her to be the most influential minority woman in the industry along with Janus' Helen Young Hayes. At SSRM Goodwin will oversee all of the firm's equity investments and lead a team of more than fifty portfolio managers, analysts and traders, said a spokesperson. She will report to Richard S. Davis, president and chief executive officer. She held both a similar title and similar responsibilities at American Century. In that job she was chief investment officer for the domestic growth equity discipline and oversaw a team of forty investment professionals. "Kim's proven record of delivering competitive performance through volatile markets demonstrates her ability to successfully apply a disciplined fundamental investment approach to the benefit of clients, shareholders and investors," said Davis in a statement. "I am confident that her investment expertise and experience in building and leading teams of talented investment professionals will enhance our money management capabilities." Prior to joining American Century, Goodwin was a senior vice president with Putnam Investments, where she served as portfolio manager on both the Putnam Vista Fund and the Putnam U.S. Growth Fund. She also held various portfolio management and investment research positions with Prudential Investments and Mellon Bank. Printed from: MFWire.com/story.asp?s=3350 Copyright 2002, InvestmentWires, Inc. All Rights Reserved |