BankAmerica forms new investment products and services group.SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Calif.--(BUSINESS WIRE)--Nov. 7, 1994--Vice Chairman Mike Rossi announced today that BankAmerica Corporation has formed a new group to coordinate and oversee the company's investment management staff, its proprietary mutual fund family, and its investment product sales force in retail branches. Rossi also announced that Alexander Anderson There are multiple Alexander Andersons:
armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. banker with 22 years of investment management and sales experience, has joined BankAmerica to manage the new Investment Management Services Group. Anderson, 45, will report to Rossi. "This new organization will significantly strengthen the sales, distribution, and investment management activities of BankAmerica," Rossi said. "These are strategic businesses that will benefit from being managed and marketed together. I am confident that Alex will take these businesses to the next level to create a seamless, integrated investment product group that provides greater value to customers." Investment Management Services Group will be comprised of BA Investment Services, the broker-dealer subsidiary that sells investment products in 1,500 branches in seven western states; the Pacific Horizon Funds, BofA's family of 16 proprietary mutual funds; Investment Management Group, the bank's investment management and research unit headquartered in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ; and BofA Illinois Investment Management, which is based in Chicago. "I am particularly proud to have someone of Alex's capabilities managing these businesses," said Rossi. "Alex is a very able leader who has the experience, vision and management skills to make this organization a success." Prior to joining BankAmerica, Anderson was Executive Vice President of Well Fargo's Investment Management Group, which has responsibility for the bank's personal trust business, private banking, institutional investment management and Wells Fargo's proprietary mutual fund family. He was with Wells Fargo for eight years. Before that, Anderson worked for Citibank for seven years, as a New York- based portfolio manager and later as head of the bank's private banking and investment division in California. "This is a unique time to be in the business of managing and selling investment products," Anderson said. "As consumers become increasingly sophisticated about managing their financial affairs, they are asking their bank to do more," Anderson said. "Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. has an outstanding opportunity to offer consumers more by leveraging the bank's far-reaching branch network, as well as its investment management capabilities and large suite of products. "This move also demonstrates BofA's intention to become one of the dominant players in the investment product business," he added. "Bringing these businesses together creates a cohesive, powerful organization that we believe will translate into greater convenience and a wider range of investment products for our customers." Anderson earned a bachelor's degree in Economics from Bucknell University Bucknell University (bŭknĕl`), at Lewisburg, Pa.; coeducational; founded 1846 as the Univ. of Lewisburg. Its present name was adopted in 1886. Bucknell has a college of arts and sciences and a college of engineering. in 1971, and a master's degree master's degree n. An academic degree conferred by a college or university upon those who complete at least one year of prescribed study beyond the bachelor's degree. Noun 1. in Business Administration in 1973 from Wharton School of the University of Pennsylvania The Wharton School is the business school of University of Pennsylvania in Philadelphia, Pennsylvania. It was established in 1881 through a donation of Joseph Wharton, making it the world’s oldest business school. in Philadelphia. He became a Chartered Financial Analyst Chartered Financial Analyst (CFA) An experienced financial analyst who has passed examinations in economics, financial accounting, portfolio management, security analysis, and standards of conduct given by the Institute of Chartered Financial Analysts. in 1979. CONTACT: BankAmerica Corp. Greg Berardi, 415/622-2645 |
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