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Rating:Ameriprise's CD-Fund Arm Names a New Boss Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 22, 2012

Ameriprise's CD-Fund Arm Names a New Boss

Reported by Chris Cumming

Ameriprise Certificates Company, a family of Ameriprise's 40 Act funds that operate like CDs, has a new president. Ted Truscott has resigned as president and CEO of Ameriprise Certificates Company and will be replaced by Abu Arif, according to an SEC filing.

Truscott is also the chairman of Columbia Management Investment Advisors, which was acquired by Ameriprise in 2010. An Ameriprise spokesman said that Truscott's role at Columbia will not be affected, and declined to comment beyond the filing.

This change in management was effective August 14.

Columbia serves as the investment manager for the Ameriprise Certificates Company funds, according to a fund prospectus. The most recent Ameriprise annual report for 2011, there were $2.8 billion of certificates outstanding, and Ameriprise's advisors sold $729 million worth of the CD funds in 2011. 

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