AIM Launches New Private Asset Management Division.Business Editors HOUSTON--(BUSINESS WIRE)--Oct. 5, 2000 A I M Management Group Inc. (AIM) has announced the formation of its newest subsidiary, AIM Private Asset Management Inc. (APAM APAM Antipersonnel/Antimaterial APAM Association des Pompiers Auxiliaires de la Montérégie (French; Quebec firefighters) APAM Archives of Pediatric and Adolescent Medicine ), which will offer personalized portfolios to high-net-worth and institutional clients. AIM is an indirect subsidiary of AMVESCAP PLC (NYSE NYSE See: New York Stock Exchange :AVZ), one of the world's largest independent investment managers. APAM will focus on high-net-worth and institutional clients by offering personalized portfolios managed by the same investment teams responsible for many of AIM's retail funds. These private portfolios will be offered through financial advisors who are seeking a personalized product tailored to their high-net-worth clients' specific investment objectives. APAM plans to offer up to eight portfolio styles through financial advisors as investment options for their clients. In addition to the already existing portfolio management teams, APAM has named several individuals to direct the key functions of APAM. Heading the new division is President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. Mark McMeans. Mr. McMeans is responsible for overseeing the primary operations of APAM, including portfolio management, client services and marketing. Prior to joining APAM, he had served as senior equity officer of AIM Capital Management Inc., since 1997. Kamala kamala an anticestodal agent derived from the plant Mallotus philippinensis; now replaced by better and safer compounds. Sachidanandan has been named vice president and director of marketing of APAM. Ms. Sachidanandan is responsible for the direction of all marketing efforts for the firm, including strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales and product development. Prior to joining APAM, she had served as vice president of retirement marketing since 1997. Keith McRedmond has joined APAM from Beutel Goodman Capital Management as vice president and director of portfolio advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . He is responsible for the management of all APAM's field sales personnel as well as the development of new business and the expansion of APAM's client base. Mary Gentempo has been named vice president and director of operations of APAM. Ms. Gentempo is now responsible for all of APAM's portfolio administration and client services operations. Prior to joining APAM, she had served as vice president of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. division of AIM Fund Services Inc. since 1993. Gwenne Buck has also joined APAM from Beutel, Goodman Capital Management as assistant vice president and head trader. She is responsible for all over-the-counter and listed block equity trades for APAM's private portfolios. "The amount of assets allocated to privately managed accounts more than doubled between 1997 and 1999, " said President and Chief Operating Officer Mark McMeans. "AIM is optimistic about the potential growth of this area of the industry and excited about tapping into this rapidly growing facet of the marketplace." AIM was founded in 1976 and ranks as the 10th-largest money manager in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. according to independent investment industry monitor Strategic Insight. AMVESCAP PLC had $389 billion in assets under management as of June 30, 2000. A I M Distributors, Inc. Distributor |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion