Van Kampen Management sold its $6 billion fixed-income separate account business to a group of employees led by Dennis J. McDonnell, who was president and COO of Van Kampens investment advisory business. Terms were not disclosed.
The new firm, McDonnell Investment Management, opened for business Nov. 1 with Mr. McDonnell as chairman and Edward A. Treichel as president and CEO. Mr. Treichel was executive director and director of Van Kampens institutional asset management unit. John M. McCareins is chief marketing officer; Michael P. Kamradt, chief investment officer; and James J. Boyne, general counsel.