RiverSource Investments, LLC Hires Asset Management Product and Marketing Leader
MINNEAPOLIS – October 19, 2006 – RiverSource Investments, LLC, a subsidiary of Ameriprise Financial, Inc. (NYSE: AMP), today announced the hiring of Patrick Bannigan as senior vice president - Asset Management, products and marketing group. Bannigan will report to Ted Truscott, president and chief investment officer of RiverSource Investments and head of U.S. Asset Management for Ameriprise Financial.
In this role, Bannigan will lead RiverSource Investments retail product development, operations, business unit compliance, business development and marketing. Bannigan will work closely with Chris Keating, senior vice president - institutional and hedge fund sales, client service and consultant relations. Keating leads sales efforts on behalf of RiverSource Institutional Advisors, the company's institutional asset management business, reporting to Truscott.
As of June 30, 2006, RiverSource Investments managed more than $151 billion in assets, including more than $76 billion in RiverSourceSM mutual and variable product funds.
Bannigan has more than 17 years experience in the asset management industry. Prior to joining RiverSource Investments, Bannigan was managing director and global head of product for Morgan Stanley Investment Management. In that role, he had responsibility for developing and managing the company's retail and institutional product lines. Bannigan also spent more than two years as president of Touchstone Investments, a third-party wholesale distributed and subadvised mutual fund provider.
"Patrick is a terrific addition to RiverSource Investments and will be a key member of my leadership team," said Truscott. "He has a wealth of experience in the industry and will help us grow our asset management business in the U.S. as we strive to provide RiverSource Fund shareholders and institutional clients with consistent, competitive investment performance and compelling product solutions."
RiverSource Investments develops and manages asset growth, preservation and income solutions that revolve around the needs of today's investors. The firm's specialized investment platform provides access to investment and research professionals located in strategic investment centers in the U.S. and overseas. As a leading source of investment insight and innovation, RiverSource Investments delivers a full range of solutions across the risk return spectrum, to retail investors and their advisors and to institutional investors including corporations, pension funds, governments, foundations and endowments. For more information, visit riversource.ccom/investments.
RiverSource Investments, LLC is an SEC-registered investment adviser that offers investment products and services under the names RiverSource Institutional Advisors, RiverSource Alternative Investments, RiverSource Capital Management and RiverSource Insurance Assets.
Ameriprise Financial, Inc. is a leading financial planning and services company with more than 12,000 financial advisors and registered representatives that provides solutions for clients' asset accumulation, income management and insurance protection needs. The Company's financial advisors deliver tailored solutions to clients through a comprehensive and personalized financial planning approach built on a long-term relationship with a knowledgeable advisor. The Company specializes in meeting the retirement-related financial needs of the mass affluent. Financial advisory services and investments are available through Ameriprise Financial Services, Inc. Member FINRA and SIPC. For more information, visit ameriprise.com
You should consider the investment objective, risks, charges and expenses for a fund carefully before investing. For a free copy of a prospectus, which contains this and other information about RiverSource Funds, please call (800) 297-3863, TTY: (800) 846-4852 or visit riversource.com/investments. Read the prospectus carefully before you invest.
RiverSourceSM Funds are distributed by RiverSource Distributors, Inc. and Ameriprise Financial Services, Inc., Members FINRA, and managed by RiverSource Investments, LLC. These companies are part of Ameriprise Financial, Inc.
Investment products, including shares of mutual funds, are not federally or FDIC-insured, are not deposits or obligations of, or guaranteed by any financial institution, and involve investment risks including possible loss of principal and fluctuation in value.
Contact:
Ryan Lund
RiverSource Investments, LLC
612-671-3459
ryan.s.lund@ampf.com