CHICAGO -- Nancy B. Prial will join the Burridge Group LLC March 16 as a senior vice president and portfolio manager.
John H. Streur Jr., chief executive officer, said the company is preparing for the future by hiring Ms. Prial, who eventually will replace company founder Richard Burridge, 69, as head of investment management.
Mr. Burridge founded the company in 1986 after 12 years as vice chairman of Alliance Capital Management, New York. He does not have any immediate plans to retire, Mr. Streur said, but "we want to make plans for that eventuality."
Burridge manages about $1.5 billion, 65% of which is for institutional investors.
Ms. Prial will manage institutional separate accounts in midcap growth stocks, with a focus on high-growth companies with stock prices that don't reflect their future earnings potential. She was most recently manager of the American Century-Twentieth Century Heritage Fund, a $1.3 billion small-cap to midcap mutual fund, which had a similar investment strategy.
Mr. Streur said Burridge will soon add two additional equity analysts to support Ms. Prial and the investment team. He added that introduction of a small-cap portfolio would be "a natural extension for us."
Ms. Prial will be replaced at American Century by Harold Bradley, who previously was director of trading; and Linda Peterson, who was an investment analyst supporting the Heritage Fund.
Mr. Bradley, who is well-known in the industry for his anti-soft-dollar views, has not managed a portfolio since joining American Century in 1988, but is a member of the investment oversight committee and has been closely involved with the investment management process, said Gunnar Hughes, a spokesman for the company.
"Anyone who knows Harold, knows his exuberance and will know he'll do a good job managing this fund," Mr. Hughes said.