Products April 1, 2008

Threadneedle Name Comes to U.S.

Threadneedle, a global asset manager based in London, has come to America.
Reported by

Four RiverSource mutual funds have been rebranded under the Threadneedle name to “…bring greater clarity to the comprehensive investment platform offered by RiverSource Investments,” according to a press release. The name change helps differentiate funds managed solely by RiverSource from those that are subadvised by Threadneedle International Limited and other partners, according to the firm.

New Names

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The four U.S. retail funds managed by Threadneedle are now named:

  • Threadneedle Emerging Markets Fund (formerly RiverSource Emerging Markets Fund)
  • Threadneedle European Equity Fund (formerly RiverSource European Equity Fund)
  • Threadneedle Global Equity Fund (formerly RiverSource Global Equity Fund)
  • Threadneedle International Opportunity Fund (formerly RiverSource International Opportunity Fund)

The funds are available through Ameriprise financial advisers and non-affiliated banks and broker/dealers.

As of December 31, 2007, the Threadneedle group of companies manages more than $137 billion of assets and delivers services to clients in 15 countries with a team of more than 130 talented investment professionals all based in London. Threadneedle and RiverSource Investments are both wholly-owned subsidiaries of Ameriprise Financial, Inc.

Threadneedle International Limited, an FSA- and SEC-registered investment adviser that subadvises certain U.S. mutual funds managed by RiverSource Investments, LLC, is a subsidiary of Threadneedle Asset Management Holdings Limited. Threadneedle International Limited and its U.K. affiliates operate under the brand name Threadneedle. Threadneedle was founded in 1994.

More information is available at www.threadneedle.com

Deals & People April 1, 2008

Kim to Head Up NYLIM

New York Life Insurance Company says that John Y. Kim, 47, will join the company and head its investment management arm, New York Life Investment Management LLC (NYLIM).
Reported by

According to the announcement, Kim will join the firm as an executive vice president and will head NYLIM as its president and CEO. He succeeds Brian A. Murdock, who has left the company.

Sy Sternberg, chairman and chief executive officer of New York Life Insurance Company, said, “Our Investment Management operations, with $250 billion in assets under management, are an integral part of New York Life, contributing more than a billion dollars in operating revenue and more than $200 million in operating earnings. We are fortunate to have a senior executive of John Kim’s experience and skill to run these substantial operations. John will report to Ted Mathas, who is our president and chief operating officer. As previously announced, Ted will become CEO of New York Life on July 1, 2008.”

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Kim was previously president of Prudential Retirement where he led their defined benefit, defined contribution and guaranteed products businesses (see Marcks Named to Head Pru Retirement). Prior to joining Prudential, he was president, CIGNA Retirement and Investment Services. He also spent 17 years of his career with Aetna Life & Casualty where he rose to the position of chief executive officer and chief investment officer of Aeltus Investment Management, and has served as managing director and head of Fixed Income at Mitchell Hutchins Institutional Investors.

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