FleetBoston Financial Corp.’s
Columbia Management Group is hiring research analysts and
portfolio managers as it tries to become one of the world’s top 20
asset managers within five years, American Banker reported, citing
Keith Banks, chief executive of the division.
Columbia Management, formed after FleetBoston purchased
Liberty Financial’s investment business in 2001, ranked 30th at
the end of last year with $160 billion under management, the paper
said.
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The unit plans to increase its research staff to 20 employees
from 15, and also is hunting for portfolio managers, the paper
said, citing Banks.
“I have been here for two years, and in that time I realized
that you need the right strategy but even more you need the right
people to execute it,” Banks told the paper.
Columbia last week hired Colin Moore, former Putnam
Investments chief investment officer for global and international
equities, to be head of active equity management.
Bloomberg News
