Patrick Bannigan, senior vice president and general manager of RiverSource Investments' mutual fund business, is moving on when the acquisition of Columbia Management's long-term asset management business closes this spring, The MFWire has learned.

Bannigan declined to comment. An Ameriprise spokesperson could not immediately be reached for comment.

Banningan, a former head of Touchstone Investments, has been with RiverSource since October 2006 and reports to Ted Truscott, president of U.S. asset management, annuities and chief investment officer at RiverSource's parent, Ameriprise Financial.

Bannigan is in charge of product development, marketing and operations. It was not immediately clear how those duties will be handled when the deal is complete.

Before joining RiverSource, Bannigan served as managing director and global head of product at Morgan Stanley Investment Management. He previously spent two years as president of Touchstone Investments. 

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