American Express Asset Management Group Hires Daniel J. Rivera to Lead U.S. Equity Team.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Jan. 25, 2000 American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Asset Management Group announced it has named Daniel J. Rivera to lead the investment team managing its top-down, large cap U.S. equity portfolios. Daniel Rivera is a seasoned investment professional who has been leading a domestic equity team and operation for a North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. based bank, Branch Banking and Trust Company. He was the Director of Investments for United Carolina Bank, which was acquired by Branch Banking in 1997. &uot;We are excited to welcome Daniel Rivera to American Express,&uot; said Stephen Roszell, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of American Express Asset Management Group. &uot;Dan is a proven investment professional with demonstrated leadership ability. Dan's top-down investment style is an excellent fit with our investment philosophy and process. We are looking forward to having him on board.&uot; American Express has been searching for a new leader for its top-down, large cap equity approach since mid-1999 when it decided to restructure management of the team. Peter J. Anderson, who had led the team for more than ten years, resumed his leadership role on an interim basis while the search for a well-qualified and proven investment professional was underway. Dan Rivera's style is very compatible with the firm's 27 year old top-down approach Top-down approach A method of security selection that starts with asset allocation and works systematically through sector and industry allocation to individual security selection. . As Dan assumes the leadership role, Anderson will participate and provide support during the transition. &uot;We are confident that Dan Rivera has all the characteristics we have been looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. ,&uot; said Roszell. &uot;For the one-, three- and five-year periods ending 1999, his annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. returns greatly exceeded the S& 500 returns. He has demonstrated leadership ability; and his top-down, sector-focused, growth style meshes with our own. We believe he is a perfect fit with our top-down approach, which has remained largely unchanged these 27 years and has enabled us to outperform the market year after year.&uot; American Express Asset Management Group, a subsidiary of American Express Financial Corp., manages more than $57 billion in assets for pensions, foundations, endowments, hospitals, unions and non-profit institutions. The company is headquartered in Minneapolis, with offices in London, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , Tokyo and Singapore. |
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