Deals & People November 3, 2009

Keane Organization Names Retirement Services President

The Keane Organization, a provider of compliance and risk management solutions to Fortune 1000 corporations, has promoted Mark Sweatman to president of Keane’s Retirement Services Division (KRS).

Reported by

In addition to being responsible for the delivery of sales and revenue goals of KRS, Sweatman will be responsible for KRS product development and marketing communications planning and execution, according to the firm. This will include new product development for additional revenue producing services, revamping traditional services to meet new regulatory or market conditions, and working with Keane’s Business Solutions team to ensure KRS is meeting all appropriate customer and market opportunities and demands.

Sweatman previously served as senior vice president with Keane’s Investor Communication and Retention Solutions (ICRS) division, where he held responsibility for all sales and client services activities. He succeeds Mary Steigerwalt, who has been promoted to the new position of executive vice president of Operations to lead all operations and service delivery for the four divisions of The Keane Organization.

Prior to joining Keane, he worked for VerticalNet, Softmart, and Exxon Mobil Corporation in various sales and management roles.

The Markets November 3, 2009

Investors Shun U.S. Stocks in September

The combined assets of the nation’s mutual funds increased by $211.8 billion, or 2%, to $10.824 trillion in September, according to the Investment Company Institute (ICI).

Reported by

Long-term funds—stock, bond, and hybrid funds—had a net inflow of $47.52 billion in September, versus an inflow of $50.17 billion in August.

Stock funds posted a net outflow of $10.53 billion in September, compared to an inflow of $4 billion in August.  However, world equity funds (U.S. funds that invest primarily overseas) posted an inflow of $722 million in September, while funds that invest primarily in the U.S. had an outflow of $11.25 billion in September.

Money market funds had an outflow of $127.52 billion in September, compared with an outflow of $53.82 billion in August, according to ICI data. Funds offered primarily to institutions had an outflow of $90.21 billion, and funds offered primarily to individuals had an outflow of $37.30 billion.

Hybrid funds posted an inflow of $10.6 billion, compared to an inflow of $3.14 billion in the prior month.

Bond funds had an inflow of $47.45 billion in September, compared to an inflow of about $43 billion in August. Taxable bond funds posted an inflow of $37.33 billion for the month, and municipal bond funds posted an inflow of $10.12 billion.

The ICI data is available here.

«