Reich & Tang [profile] has appointed SunGard alumnus Tom Nelson as its CIO. As president, Nelson will manage and oversee the New York firm's money market and separately managed account portfolios, a recent press release stated.

"We've historically been a low-risk, risk-averse type of money market fund family, and we expect to continue that going forward," Nelson said in a phone interview today. �"[This appointment] is just a matter of my experience and bringing another voice into our business to make sure we're always looking at all the details we need to look at to make sure our funds are managed properly."

A spokesman for the company emphasized that Reich & Tang is unusual in that it discloses all portfolio holdings on a daily basis to investors, a philosophy Nelson said he believes in "very strongly."

"It's critical that customers understand what we're doing with their money and don't hold any information back that we can possibly give them. It doesn't change how we manage our portfolios," he said.

Nelson reports to Reich & Tang CEO Michael Lydon.

Prior to his appointment as CIO, Nelson has served for two years as chief strategist at the Natixis Global Asset Management S.A. subsidiary. Prior to that, he was head of SunGard's STN Money Markets, which distributes money market mutual funds and commercial paper; senior VP at ICAP Capital Markets; and head of short-term asset portfolio management group at Chase Asset Management -- prior to the merger with J.P. Morgan -- where he worked for 14 years overseeing $80 billion in short-term assets.

COMPANY RELEASE
Reich & Tang Names Tom Nelson Chief Investment Officer<

June 18, 2012, New York, NY�Reich & Tang, the third longest running money fund complex in the world, has announced the appointment of Tom Nelson as its Chief Investment Officer. Mr. Nelson, a money management veteran of more than 20 years, is responsible for the management and oversight of the firm�s money market and separately managed account portfolios. He reports to Michael Lydon, Reich & Tang�s Chief Executive Officer.

Reich & Tang has been providing money market funds and liquidity solutions for nearly four decades and has built a reputation as a conservative investment manager within its peer group. �We are very pleased to have Tom serving as our Chief Investment Officer,� said Mr. Lydon. �His years of money management experience through all market cycles, and expert knowledge of the capital markets are key attributes that are critical in any CIO. His skill set is particularly welcomed given the amount of attention money funds have received over the past couple of years.�

�I welcome my new role and look forward to contributing to the long-standing reputation the firm has earned in the money market space,� said Nelson. �Being a part of an organization that is solely focused on liquidity and cash management better enables us to extract, scrutinize, and process the most relevant and critical information from which we structure our portfolios, and which we feel will best serve our shareholders.�

Mr. Nelson served as Reich & Tang�s Chief Strategist since joining the firm two years ago. Previously, he was head of SunGard's STN Money Markets, the firm�s money market mutual fund and commercial paper distribution facility. In addition to being a Senior Vice President at ICAP Capital Markets, Mr. Nelson was Head of the Short-Term Asset Portfolio Management Group at Chase Asset Management, where he worked for 14 years, and was responsible for $80 billion in assets across all short-term asset management classes. Mr. Nelson has a B.A. in Economics from Duke University.

About Reich & Tang

Reich & Tang is one of the nation�s largest firms dedicated solely to liquidity and cash management solutions. The firm is focused on creating, improving, and delivering smarter ideas to help banks, broker-dealers, and institutions maximize the value of their deposit, money fund, and short-term investment programs. This singular focus across several business channels combines to form a unique perspective and expertise, and provides a deeper insight into the multiple disciplines within cash management. Reich & Tang is a subsidiary of Natixis Global Asset Management S.A., which has assets of $748 billion as of March 31, 2012.

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