Alliance Fund Distributors Inc. names new managing director of bank division.NEW YORK--(BUSINESS WIRE)--Sept. 28, 1995--Richard A. Davies joins Alliance Fund Distributors, Inc. October 2, 1995 as a Senior Vice President and Managing Director of the Bank Division. In his new post, Mr. Davies will have overall responsibility for Alliance's domestic bank activities. In addition to serving as a liaison with senior level bank executives, he will continue to broaden Alliance's relationships with banks beyond mutual fund sales. He will report to Michael J. Laughlin, Executive Vice President of Alliance Capital Management L.P. and Chairman of Alliance Fund Distributors. Mr. Davies joins Alliance from First Chicago where he was instrumental in developing the retail investments program and expanding the banking company s proprietary mutual fund family. In January, he was named Managing Director of First Chicago Investment Management Co., while retaining his position as President of First Chicago Investment Services, Inc., a post he had held since 1991. Before joining First Chicago in 1989 as Vice President of Corporate Strategy, Mr. Davies was a Consultant and Manager with The Boston Consulting Group, Inc. At the global strategy consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a he specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. in marketing and distribution assignments for financial, consumer and industrial companies. Mr. Davies earned an M.B.A. from Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. and was awarded a B.A. in Economics, with honors, from the University of Wisconsin. "We re delighted to have someone of Dick Davies stature and ability coming aboard," said Alliance's Mr. Laughlin. "His experience, both as a consultant and president of a very successful bank investment products program, will help Alliance with it's strategy of taking a broader approach to our bank relationships," he said. "By hiring Dick Davies, we are reaffirming our commitment to the bank channel," Mr. Laughlin added. "Although sales of mutual funds through banks have been in a cyclical cyclical Of or relating to a variable, such as housing starts, car sales, or the price of a certain stock, that is subject to regular or irregular up-and-down movements. retreat for the past two years, Alliance believes in the long-term viability of banks as a distribution channel for investment products," he said. Alliance Fund Distributors is the principal underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. for the mutual funds managed by Alliance Capital Management L.P. Alliance Capital is a diversified diversified (di·verˑ·s global investment adviser with more than $136 billion 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. . CONTACT: Kalen Holliday 212-969-1056 |
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