Michael Cosgrove was named president and CEO of GE Asset Managements mutual fund business, confirmed spokesman Chris Linehan. It is a new position. Mr. Cosgrove was an executive vice president and chief commercial officer for GE Asset Management, where he oversaw sales and marketing for the firms institutional and mutual fund businesses. His institutional responsibilities will be assumed by Kathryn Karlic, who was promoted to president of institutional sales and marketing; she was an executive vice president and CIO of fixed income. Paul Colonna, senior vice president, was promoted to president and CIO of fixed income; he will retain his responsibilities as head of fixed income total return portfolio management.