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Rating:Banks Funds Taps Exec Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, August 08, 2000

Banks Funds Taps Exec

Reported by Sean Hanna, Editor in Chief

First American Asset Management has tapped Peter Torvik to head sales, marketing, and product management for its funds group. Torvik will take the title of executive vice president of the First American Funds Group and report to Tom Plumb, chief executive officer. The position is newly created and is based in Minneapolis.

Torvik's staff includes senior vice presidents Jeff Wilson, head of the First American Funds product group, and Charlie Russella, who has responsibility for First American's retirement product group.

Prior to joining the unit of U.S. Bancorp, Torvik served for five years as president and partner of DPG Group, a Florida-based partnership engaged in affinity marketing. He also served as chairman of the board of a DPG joint venture with the National Association of Counties, known as the National Association of Counties Financial Services Center, which markets retirement plans, cooperative procurement, insurance, and financial management products and services to local governments nationwide.

"Peter brings to First American Funds the experience he has gained in his outstanding career in strategic planning and corporate development in the financial services industry," said Plumb. "Not only is he a creative, resourceful thinker, but he has the practical experience of having launched a group of money market funds and other money management programs. He is a real entrepreneur, and he is passionate about this business. We are fortunate to have him."  

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