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From the February 2009 issue of Investment Advisor • Subscribe!
February 1, 2009
? Security Global Investors, the asset management arm of Security Benefit Corp. of Topeka, Kansas, announced its integration with Rydex Investments, under which Security Global's CEO Richard Goldman has assumed the position of CEO for the combined asset management firm. Rydex CEO Carl Verboncoeur will transition to an advisory role in which, among other duties, he will continue to serve on the Rydex Funds' board. The firm will operate as Security Global Investors, and market its investment products as Security Global Investors to the institutional investment community and as Rydex Investments to the retail markets. Security Benefit Corp. closed on its acquisition of Rydex in January 2008. ? Peter Sundman, chairman and CEO of the Neuberger Berman funds, left Neuberger Investment Management on January 5 to serve as president and CEO of ClearBridge Advisors--Legg Mason's largest investment management arm. His departure comes after a group of senior executives and portfolio managers at that firm bought it from its bankrupt parent, Lehman Brothers. At ClearBridge, Sundman will fill a void left by the departure in March 2008 of its former chief, Brian Posner. ? James Kroeker has been appointed as the acting chief accountant in the SEC's Office of Chief Accountant. He replaces Conrad Hewitt, who retired from government service in January. The SEC also appointed Shelley Parratt to serve as acting director of the Division of Corporation Finance, replacing John White, who returned to private practice.