Fleet Boston Financial has completed its purchase of Liberty Financial Companies. Fleet paid $1.0 billion to acquire all of Liberty Financial's asset management operations, including: Colonial Management Associates, Crabbe Huson Group, Liberty Asset Management Company, Liberty Funds Distributor, Liberty Funds Services, Newport Pacific Management, Progress Investment Management Company, Stein Roe & Farnham, and Liberty Wanger Asset Management.
* * *
New York-based AMIDEX Funds has opened a fund specializing in the stocks of companies focused on cancer cures. The AMIDEX Cancer Innovations & Healthcare Mutual Fund invests in the 45 pharmaceutical, biotechnology and medical device companies that comprise the AMIDEX eMed Cancer Innovations & Healthcare Index.
* * *
UniCredito Italiano's purchase of Pioneer led to the resignation of Theresa Hamacher, U.S. investment chief, according to reports. The firm will not replace Hamacher, whose duties were altered in wake of the buyout. It added that Hamacher was the only executive to leave the firm after this week's reorganization of its investment unit. John Carey, a portfolio manager, will take over as head of the firm's seven investment management teams.
* * *
Gary Pzegeo has left Evergreen Investments to join the bond team at Gannett Welsh & Kotler. Pzegeo was a managing director in the taxable fixed-income group at Evergreen where he spent 11 years.
Stay ahead of the news ... Sign up for our email alerts now