MONEY MANAGEMENT

First State Investments appoints North American distribution head

Carolyn Patton was named head of distribution, Americas, at First State Investments, spokeswoman Elizabeth Cozine said.

The position is new. Ms. Patton will be responsible for expanding and leading the company’s distribution team, managing consultant relationships and direct sales, and promoting First State’s business development efforts in North America. She will be based in New York and report to James Twiss, managing director, Americas.

Ms. Patton was managing director, global client group at Deutsche Asset Management. Michelle Reuter, head of consultant relations, has taken over her responsibilities, said Deutsche spokeswoman Oksana Poltavets.

First State managed $158.1 billion in assets as at March 31.