June 15,2002

American Express Asset Management Group: Ward Armstrong has been named president of American Express Asset Management Group, broadening his current responsibilities as president of American Express Retirement Services. In his new combined role, Armstrong oversees more than $60 billion in managed assets and more than 1,000 employees and will be responsible for leading American Express Asset Management Group and expanding its position in the market as an institutional money manager. [Ink Spot News, May 16, 2002]

AXA Financial Inc.: Jerald E. Hampton has left Salomon Smith Barney to join AXA Financial as executive vice president. [InvestmentNews, June 3, 2002]

Charles Schwab & Co.: Colleen Hummer has rejoined Charles Schwab & Co. and is in charge of a new strategy division with SchwabÕs product management unit. Hummer will be responsible for evaluation of all packaged products. [Fund Action, May 27, 2002]

Credit Suisse Asset Management: Lori Cohane has left Morgan Stanley to join Credit Suisse Asset Management as managing director and portfolio manager, responsible for tax-advantaged Þxed-income products for wealthy investors. Frank Biondo has left UBS Global Asset Management to join the company as vice president and portfolio manger. Finally, Maureen Grover has been hired from Morgan Stanley as vice president in charge of client services. [InvestmentNews, May 27, 2002]

Delaware Investments: Mark A. Tonelli has left Fidelity Investments to join Delaware Investments as vice president of deÞned contribution sales. He will be responsible for forging and maintaining existing relationships with companies in the deÞned contribution and deferred compensation markets in the Midwestern region of the U.S. Dina M. Welch also joins Delaware from Mutual Life Insurance Company. Welch has been appointed vice president/portfolio manager and will be responsible for managing insurance assets in the Þrm's Þxed income department. Finally, Scott E. Decatur has left Grantham, Mayo, Van Otterloo & Co. to join the company as vice president/senior equity analyst. Decatur is responsible for quantitative research in the Þrm&#&39;s structured products division. [Ink Spot News, May 31, 2002]

Deutsche Asset Management: Jeffrey M. Ulness, formerly of American Skandia, has joined Deutsche Asset Management as director of sales in the Þnancial institutions group, a newly created post. [American Banker, May 28, 2002]

Dreyfus: Matt Schiffman has left Manulife to join Dreyfus as national sales head. Schiffman succeeds Michael Millard, who was promoted to president replacing Tom Eggers. [Fund Marketing Alert, May 27, 2002]

ETF Advisors LLC: Gary Gastineau, former managing director of Nuveen Investments, has joined ETF Advisors LLC. His departure from Nuveen puts the company's ETF plans on hold. [Dow Jones News Service, May 29, 2002]

Ivy Asset Management: Colleen Baldwin has left AIG Global Investment Group to join Ivy Asset Management as chief operating ofÞcer. [InvestmentNews, May 27, 2002]

Jackson National Life Insurance Co.: Jim Sopha has left Swiss Re to join Jackson National Life Insurance Co. as senior vice president of corporate development. [InvestmentNews, June 3, 2002]

LaSalle Investment Management: Stanley J. Kraska has been promoted to managing director/group head of real estate securities at LaSalle Investment Management. William J. Maher has been promoted to managing director of North American research and strategy. Anthony O'Malley has been promoted to managing director of the New York ofÞce. Allan Swaringen has been promoted to managing director of global client services in Chicago. Dann M. Thomason has been promoted to senior vice president of portfolio management, and Mark William Latham to vice president of portfolio management. [InvestmentNews, May 27, 2002]

Man Investment Products: Martin L. Syms has been appointed vice president of the intermediary network at Man Investment Products. Adrian G. BlumÞeld has been appointed vice president of business development. Kirk C. Strawn has left ING Furman Selz Capital Management to join the company as vice president of institutional sales. Finally, Fakhruddin Khawaja has been named vice president of sales support. [InvestmentNews, May 27, 2002]

MONY Life Insurance Co.: Sam Chiodo has joined MONY Life Insurance as head of the corporate strategies group. [InvestmentNews, June 3, 2002]

PFPC: Stephen M. Wynne has been promoted from executive vice president to chief operating ofÞcer at PFPC. Wynne is responsible for the management of client relationships and directs services provided by PFPC including transfer agency, accounting, administration, print mail, subaccounting and offshore services as well as the sales and marketing division. Nancy B. Wolcott has been promoted to chief strategic planning ofÞcer. Wolcott's responsibilities include the strategic planning for PFPC and management of the company's businesses including retirement services, custody, securities lending and integrated banking transaction services. She will also oversee the development of PFPC's securities clearing business. Also, Michael R. Harte has left Citibank to join PFPC as chief information ofÞcer, a newly created post. Harte will head PFPCÕs information technology strategy initiatives and will oversee PFPC systems' strategic direction, deployment of resources and set system development priorities. [Ink Spot News, June 5, 2002]

Reserve Management Co.: Ira S. Liss has been promoted to institutional relationship manager at Reserve Management Co. [InvestmentNews, May 27, 2002]

TD Waterhouse: Peter Mangan has resigned from his post as chief operating ofÞcer and head of mutual funds for TD Waterhouse. [Fund Marketing Alert, May 27, 2002]

The Hartford Financial Services Group: Lois Grady has been promoted to executive vice president and director of information systems and services for The Hartford Financial Services Group's life insurance division. [InvestmentNews, May 27, 2002]