NU Online News Service, Sept. 5, 12:44 p.m. – American Express Financial Advisors, Minneapolis, has hired William “Ted” Truscott as its chief investment officer.

Truscott replaces Peter Anderson, who retired in April, around the same time AEFA reported it was losing money on its portfolio of high-yield bonds.

AEFA, a unit of the American Express Company, has $260 billion in assets under management.

Truscott previously was managing director and chief investment officer for the Americas at Zurich Scudder Investments, New York.

Truscott spent nine years with Zurich Scudder and has a total of 18 years of experience in financial services. He has a bachelor’s degree from Middlebury College and a master’s degree in business from New York University.