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Rating:Columbia Appoints Distribution Execs
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Tuesday, February 05, 2008

Columbia Appoints Distribution Execs

Reported by Armie Margaret Lee

Columbia Management has tapped a Putnam Investments alum and two company insiders to key distribution posts. The Boston-based subsidiary of Bank of America named another insider as head of equity.

Columbia brought in Jeffrey Peters to head up institutional distribution. He will oversee institutional sales, client service and consultant relations. Peters, whose duties also include international functions, most recently led Putnam's international business operations.

The firm appointed David Feldman and Beth Ann Brown as heads of intermediary distribution. Feldman will lead intermediary sales, while Brown will serve as strategic relations executive. Prior to their appointment, the two held senior distribution roles at Columbia.

Peters, Feldman and Brown report to Columbia president Michael Jones. Peters and Feldman's duties were previously combined in one role, according to a company spokesperson. That role was held by Jones prior to his appointment as Columbia president last fall.

In addition, Columbia has tapped Robert McConnaughey as head of equity, reporting to Colin Moore, chief investment officer. McConnaughey was previously director of fundamental equity research at Columbia. His new job was previously held by Moore, who got promoted to CIO last September.

Company Press Release

BOSTON – Columbia Management today announced several key leadership appointments in its distribution and portfolio management areas. As of December 31, 2007, Columbia Management and its affiliates managed $643.5 billion in assetsi for individual and institutional clients. Columbia Management named Jeffrey F. Peters head of institutional distribution reporting to Michael A. Jones, president, Columbia Management. In this role Peters will oversee Columbia Management's institutional sales, client service, consultant relations and international functions. Peters was most recently with Putnam Investments, where he oversaw that firm's international business operations.

David M. Feldman and Beth Ann Brown were named heads of intermediary distribution, also reporting to Jones. Feldman will serve as head of intermediary sales, responsible for all external and internal wholesale distribution of Columbia Management products through financial advisors, and Brown will serve as strategic relations executive, responsible for strategic partnering and broadening relationships with intermediary firms. Feldman and Brown have previously held senior distribution roles for the organization, following similar leadership roles at predecessor firms. Robert K. McConnaughey was named head of equity, reporting to Colin Moore, Columbia Management chief investment officer and head of Alternative Investments. McConnaughey joined Columbia Management in 2002 and previously served as director of Columbia Management's Fundamental Equity Research.

Commenting on the appointments, Jones said, "With outstanding investment performance, a robust product lineup and a powerful distribution engine, Columbia Management is extremely well-positioned to continue serving investors and clients. These appointments solidify our leadership team and strongly position the organization for continued growth.”

Columbia Management and its Affiliates

With $643.5 billion overall under management (as of December 31, 2007) and a history that dates to the early 1900s, Columbia Management and its affiliates make up one of the nation's largest and most experienced asset management companies. Columbia offers a comprehensive array of investment solutions, including equity, fixed-income and cash strategies. Its diverse investment solutions and focus on the needs of clients make Columbia Management the asset manager of choice for institutions, corporations, advisors and high-net-worth investors. To learn more about Columbia Management, visit www.columbiamanagement.com.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 59 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 19,000 ATMs and award-winning online banking with nearly 24 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 99 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. www.bankofamerica.com # # #

Columbia Management Group, LLC ("Columbia Management”) is the investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and products for institutional and individual investors. i Columbia Management and Its Affiliates (Columbia Management)

Columbia Management and its affiliates comprise the wealth and investment management division of Bank of America Corporation. As of December 31, 2007, Columbia Management and its affiliates managed assets of $643.5 billion. Columbia Management and its affiliates' managed assets includes assets under the discretionary management of Columbia Management Advisors, LLC ($370.2 billion); Columbia Wanger Asset Management, L.P. ($36.8 billion); U.S. Trust, Bank of America Private Wealth Management ($225.2 billion); Premier Banking & Investments ($22.9 billion), and United States Trust Company, National Association, including its subsidiary, UST Advisers, Inc. ($112.3 billion). Please note that, when the assets for these entities are aggregated, the total assets will be greater than the Columbia Management and its affiliates' assets as a result of sub advisory relationships between the various entities.  

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