Pioneer Investments has named Daniel Keith Kingsbury as the president and CEO of Pioneer Investment Management USA and head of the U.S. division of Milan-based Pioneer Investments.
Earlier, Kingsbury served as CEO of Pioneer Investments’ new markets division, with assets of nearly $11 billion. He will retain his position as a member of Pioneer’s global management committee, which he joined six years ago. In addition, he is joining the board of Pioneer Global Asset Management.
“The [U.S.] division’s assets have nearly quadrupled to $75 billion in the past five years, and the business has good momentum going into 2007,” says Kingsbury, 48. “There is tremendous potential to continue to grow the U.S. business, and I am looking forward to my new role.”
Before joining Pioneer in 1999, Kingsbury was CEO of Renaissance Capital Asset Management, based in Moscow. He worked for AIG from 1988 to 1997.
In addition, Pioneer recently launched the Pioneer Floating Rate Fund, an open-end bank loan fund that seeks a high level of current income. “Bank loans are an increasingly important part of the bond market, and we believe it’s important to participate in this sector as we expand our capabilities across global fixed-income markets,” says Kenneth Taubes, senior vice president and director of U.S. fixed income at Pioneer.