Liberty Funds Group (LFG) today announced the completed integration of
Colonial Management Associates and the
Stein Roe Mutual Funds. LFG, is the business arm of Liberty Financial Services that now comprises the mutual fund and institutional businesses of Colonial and Stein Roe & Farnham, Inc.
The integration of the two fund companies merges their strategic, marketing, distribution, and administrative functions. Both fund families were placed under one management structure in July 1998 headed by
Stephen Gibson, president of LFG.
Following the management consolidation, LPG also merged the funds' transfer agents, fund accounting and equity trading functions. Most recently, the customer service and marketing departments were centralized.
Liberty has launched an integrated customer service call center based in Denver to be headed by
Nicholas Norton, formerly of
Scudder Kemper Investments. Norton will report to
Mary McKenzie, president of Liberty Funds Services.
Thomas Butch, president of Stein Roe Mutual Funds will leave the company to become chief marketing officer of Waddell & Reed Mutual Funds, replaced by Gibson, who will also continue as president of Colonial.
"We are grateful for the many contributions Tom has made at Stein Roe, and his help in this integration," said Gibson. "While we had hoped he would join us in Boston, we wish him well in his new position."
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