John Kattar has joined Boston Co. Asset Management in the new position of director of domestic equities. He will be responsible for overseeing $10 billion. He formerly was managing director of equities and director of equity research at Phoenix Investment Counsel, overseeing about $7 billion.
Equity operations at Phoenix Investment Counsel were shut down April 8 in a strategic cost-cutting move by the parent company, Phoenix Investment Partners.
Fifteen equity people, including Mr. Kattar, were displaced by the closure. Phoenix Investment Counsel will continue to manage about $1.6 billion only in fixed income, which includes about $125 million in institutional assets. All equity management handled by Phoenix Investment Counsel was transferred to another Phoenix subsidiary, Seneca Capital Management, including $97 million in institutional assets.
Clients are being notified of the changes, said Phoenix spokesman Andy Janicik.