president of UAM Fund Services
, will leave for Zurich Scudder Investments
in April, but UAM has no plans to fill the position. Instead, his managment tasks will be divided up among the executive team in the interim.
"There will be some changes," said French, explaining the different contacts points for his direct reports. "Responsibilities will be divided up between Kevin Carter
, [chief executive officer] of Old Mutual Asset Management, and Jim Orr
, [chief executive officer] of UAM."
The departure will not affect existing business relationships or personnel at UAM, continued French. However, uncertainty will continue until next month, when decisions determining hierarchy and personnel will be finalized. According to sources close to the matter, "new people arrive every day."
At Scudder, French is expected to oversee investment operations for several mutual funds and trust products, develop operational infrastructure, and assume responsibility for fund accounting.
"This job falls into the 'too-good-to-pass-up' category," said French.
French, a graduate of the University of Florida, will assume the chairmanship of the NICSA board later this year.
Both funds are based in Boston.
Stay ahead of the news ... Sign up for our email alerts now