American Century Announces New Head of Institutional Business

American Century Investments announced Joseph P. Craven has joined the firm as senior vice president of its institutional business.

Craven joins American Century Investments from Aquiline Investments, a private equity firm where he was a principal, according to the company.

From 2002 to 2004, Craven served as director of Institutional Retirement Services at Putnam Investments, where he managed the institutional full service defined contribution business. From 1996 to the end of 2001, he served as Putnam’s director of Consultant Relations and Institutional Product Management.

Prior to his time at Putnam, Craven joined the Office of the Massachusetts State Treasurer as general counsel. Later he served as deputy treasurer of the Pension Investment Division, responsible for oversight of pension plans with assets in excess of $8 billion. He also practiced public finance and commercial finance law in Massachusetts, New Jersey and New York, where he worked as an investment banker.

“American Century Investments has been working diligently to bring institutional rigor to an already strong investment management capability,” said Brian Jeter, American Century Investments’ chief sales and distribution officer, in an announcement. “Those efforts, combined with the addition of Joe Craven to a very solid and experienced team, underscore our commitment to expanding our footprint in the institutional marketplace.’