BOSTON – Columbia Management Group Inc., FleetBoston Financial Corp.’s asset management arm, hired former Citigroup Inc. executive Robert McConnaughey to head equity research, Bloomberg News reported.
McConnaughey, 31, will lead a team of 20 analysts specializing in big companies. He replaces Thomas Stakem, who left Boston-based Columbia last month.
McConnaughey joined Columbia from Citigroup Asset Management, where he served as associate director of research. At Citigroup, he oversaw equity research globally for all growth sectors and managed about 135 investment professionals. From 1997 to 2000, he was a managing director at what is now Prudential InvestmentManagement.
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From 1993 to 1997, McConnaughey was an analyst and associate portfolio manager at Fidelity Investments. Columbia manages $170 billion.
