In this role, Mills will focus on business development activities
in the New York region, Washington, D.C., and broad support across the east division. Mills will be based in the company’s New York City
and Parsippany, New Jersey, offices beginning on April 18, 2011.
According
to the announcement, Mills has more than 25 years of industry business
development experience with a track record of marketplace
success. She specializes in selling and leading complex, integrated
human resource solutions to large U.S.-based and global companies.
Additionally, she is a leader in corporate social responsibility
initiatives.
Prior to joining Towers Watson, Mills spent 15
years with Aon Hewitt and Aon Consulting in various account management
and leadership roles. Her most recent position was market leader for Aon
Hewitt’s greater New York region. She also held management positions in
Fairfax, Virginia, Atlanta and Nashville. Mills joined Aon Consulting
in 1996 after selling her firm, The Mills Group, to Aon.
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U.S. mutual fund investors added an estimated $23 billion in net
new cash to U.S. stock and bond mutual funds in March 2011, according to Strategic Insight, an Asset International company.
Propelled by demand for international equity funds and taxable bond funds, the data show that in total, the first quarter of 2011 saw $85 billion
in net new flows go to U.S. stock and bond mutual funds. That was the
best quarterly showing for long-term fund flows since the $124 billion
of net inflows experienced in Q1 of 2010, SI said.
A rise in investor confidence, bolstered by gradually
improving economic and employment news, led the return of investors’
appetite for domestic equity funds in Q1 2011, although stronger flows
to such funds in January and February slowed to a trickle in March. In
all, Q1 2011 saw $35 billion in net flows to U.S. equity mutual funds,
the first quarter of positive flows to U.S. equity funds since Q1 2010.
International and global equity funds experienced $10.6
billion in net inflows in March, as investors’ secular drive to
globalize their portfolios was relatively unfazed by conflict in Libya
and Japan’s earthquake and nuclear plant crisis, according to Strategic
Insight. In 2011’s first quarter, a total of $30 billion in net inflows
went to international equity funds – especially global equity funds, as
flows to emerging markets funds slowed in the quarter.
Bond funds experienced net inflows of $13 billion in
March, as investors continued to put money into taxable bond funds in a
search for alternatives to low-yielding cash vehicles. Overall, taxable
bond funds drew $15.6 billion in March and $40 billion total in Q1 of
2011. Floating Rate and Global Bond funds again led the way in net
inflows during March.
Muni bond funds continued to see net outflows in March,
although the net outflows of $2.7 billion were smaller than February’s
net outflows, which were smaller than January’s. Investors continue to
worry about the finances of many states and municipalities, but outflows
from muni bond funds have been slowing on a lessening of fears of a
wave of municipal bankruptcies.
With the positive net inflows and solid stock-market
performance of 2011’s first quarter, U.S. stock and bond mutual fund
assets ended March 2011 at near $8.2 trillion, up more than $3.5
trillion from the stock market’s bottom of March 2009. Adding gains
among ETFs and VA funds, the asset recovery over the past two years
exceeded $4.5 trillion. Fund industry assets have rebounded due to both
market performance and about $700 billion in net inflows into bond funds
and, to a much smaller extent, stock funds since March 2009.