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Rating:A Former Fund CEO Becomes a Recruiter

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Monday, February 8, 2010

A Former Fund CEO Becomes a Recruiter

Reported by InvestmentWires Staff, 

Former OppenheimerFunds CEO John Murphy is now with executive search firm Korn/Ferry International as managing director for the asset and wealth management sector. He is based in the Boston office of the Los Angeles-headquartered executive search firm.

Murphy relinquished his CEO title at OppenheimerFunds to Bill Glavin at the end of 2008 and stepped down as chairman at the end of last year.

NEW YORK, Feb. 8 /PRNewswire-FirstCall/ -- Korn/Ferry International (NYSE: KFY), a premier global provider of talent management solutions, today announced that John V. Murphy has joined the Firm as Managing Director for the Asset and Wealth Management Sector of the Global Financial Market. He will be based in the Firm's Boston office.

Mr. Murphy joins Korn/Ferry after eight years at OppenheimerFunds, Inc. where he most recently served as Chairman and previously was the company's CEO and President. He is responsible for the expansion of the company's focus beyond traditional retail mutual funds with the creation of fund of funds, high net worth and institutional businesses.

Under Mr. Murphy's leadership, OppenheimerFunds, Inc. grew to the seventh largest mutual fund company in the United States with $275 billion in assets at its peak and was recognized as the best overall large mutual fund family and best overall fixed income manager by Lipper. SmartMoney magazine named him as one of the "30 Most Influential People in Investing."

"John's leadership, expertise and deep relationships at the CEO and board level will play a critical role in raising the already strong reputation and profile of Korn/Ferry's Financial Services Market in the investment management world," said Michael Franzino, Korn/Ferry's global market managing director of financial services.

"John has proven knowledge and success in the investment industry and his mutual fund board expertise is unparalleled. This is a world class strategic hire for Korn/Ferry's Asset and Wealth Management business," said Michael P. Castine, chairman of Korn/Ferry's asset and wealth management sector.

Previously, Mr. Murphy led various businesses for MassMutual Financial Group including its 401(k), defined benefit, annuity, international and institutional asset management businesses. He also served as the Chairman of the Investment Company Institute (ICI), the national association of the American mutual fund industry.

He earned a B.S. from Boston College and currently serves on Boston College's Board of Trustees, in addition to serving as Co-Chairman of the Boston College Wall Street Council.

About Korn/Ferry International

Korn/Ferry International, with a presence throughout the Americas, Asia Pacific, Europe, the Middle East and Africa, is a premier global provider of talent management solutions celebrating 40 years in business. Based in Los Angeles, the firm delivers an array of solutions that help clients to attract, develop, retain and sustain their talent. Visit www.kornferry.com for more information on the Korn/Ferry International family of companies, and www.kornferryinstitute.com for thought leadership, intellectual property and research.

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