American Express Financial Corporation Hires Head of Institutional and Hedge Fund Sales, Client Service and Consultant Relations.MINNEAPOLIS -- American Express Financial Corporation (AEFC AEFC Aerospace Expeditionary Force Center ), American Express Company's (NYSE NYSE See: New York Stock Exchange :AXP The brand name Digital gave to its first family of Alpha-based computers. In 1998, Digital was acquired by Compaq. See Alpha. ) Minneapolis-based financial services entity, has hired Christopher Keating as head of institutional and hedge fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" sales, client service and consultant relations. Keating becomes a senior asset management leader responsible for growing the firm's institutional separate account and alternatives businesses. He joins the firm most recently from Fidelity Management Trust Company, where he was executive vice president: sales, client service and consultant relationships. Keating will report to Ted Truscott, chief investment officer, AEFC. "We are extremely pleased to have Chris join us to lead our institutional and hedge fund sales, client service and consultant relations efforts," said Truscott. "Over the past several years, we have made significant investments to build strong equity and fixed income capabilities, and we're seeing results. With competitive track records and diverse institutional and alternatives product lines in place, the addition of Chris Keating to lead our sales, client service and consultant relations efforts comes at an ideal time." Keating has 23 years of experience in the investment industry with several well-established institutional investment firms. His experience and ability to both lead teams and work directly with clients, consultants and potential investors was key to AEFC's decision to select him for this position. AEFC includes American Express Asset Management, American Express Alternative Investments and other asset management entities. AEFC is a SEC-registered investment advisor Investment Advisor 1. A person making investment recommendations in return for a flat fee or percentage of assets managed, known as a commission. 2. For mutual fund companies, it is the individual who has the day-to-day responsibility of investing and monitoring the cash and that offers investment products and services to institutional and retail markets. On Feb. 1, 2005, American Express Company announced plans to pursue a spin-off to shareholders of the American Express Financial Advisors unit. The transaction is expected to be completed in the third quarter of 2005, subject to certain conditions. American Express Financial Advisors (AEFA AEFA American Express Financial Advisors AEFA Asociación Española de Farmacéuticos Analistas AEFA Average Emission Factor Approach AEFA Advanced Engineering Flight Activity AEFA Fleet Replenishment Ship (Royal Navy) ) is one of the nation's leading financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , asset management and insurance companies. Through its nationwide network of more than 12,000 financial advisors, AEFA helps clients achieve their financial goals by building long term relationships based on trusted, knowledgeable advice. The company specializes in meeting the retirement-related financial needs of the mass affluent. AEFA provides retail and institutional asset management products and services in the U.S. through American Express Financial Corporation, and in Europe through Threadneedle Asset Management Limited. Insurance products are issued by IDS Life Insurance Company, IDS Property Casualty Company and their subsidiaries. American Express Retirement Services provides investment management and recordkeeping services to large and mid-size company 401(k) plans, as well as workplace financial education programs. For more information, visit americanexpress.com. American Express Financial Advisors Inc. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer. |
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