RiverSource Investments, a unit of Ameriprise Financial, has hired Todd White as structured assets sector team leader. White will be a portfolio manager for the following retail and variable portfolio (VP) funds: RiverSource Diversified Bond Fund, RiverSource VP Diversified Bond Fund, RiverSource Limited Duration Bond Fund, RiverSource Short Duration U.S. Government Fund, RiverSource VP Short Duration U.S. Government Fund, RiverSource U.S. Government Mortgage Fund, RiverSource Balanced Fund and RiverSource VP Balanced Fund. He brings to the company over 22 years of experience in fixed-income investing, specializing in MBS, ABS and interest rate trading. Before joining RiverSource Investments, White was managing director and global head of MBS and ABS as well as North American head of interest rate trading at HSBC. Before that, he spent 18 years at Lehman Brothers, most recently as managing director and head of the residential mortgage and option businesses.
bfinance, an independent specialty financial services consulting firm, announced it will open an office in Milan, Italy before the end of 2008. This location will be used to focus its business on the Italian market. The investment management selection business servicing institutional investors in Italy will still be managed by Ottavia Sebastiani, director in business development, while newly appointed Daniela Zatti, who is also a director in business development, will be responsible for helping to develop the firm's commercial bank relationship advisory and cash management optimization businesses. Zatti joined bfinance from Intesa SanPaolo, corporate and investment banking division, where she was head of cash management sales. Other new appointments at bfinance include Preben Oye, director in business development for the Nordic Region. Oye recently joined the Northern europe team.