Eugene Needles was named president and CEO of American Beacon Advisors, effective April 15.
Mr. Needles will succeed William F. Quinn as CEO when he steps down, Mr. Quinn said in an interview. Mr. Quinn will remain executive chairman at American Beacon.
The position of president at American Beacon has been vacant since September, when Douglas Herring became a vice president at American Airlines Inc. American Beacon manages $17 billion in assets for American Airlines, Fort Worth, Texas.
Mr. Needles is president and CEO of mutual fund manager Touchstone Investments.
Touchstone spokesman Anthony Kono said Mr. Needles will leave Touchstone on April 9. Jill McGruder, president and CEO at IFS Financial Services, will serve as acting president while the company searches for a permanent replacement for Mr. Needles. IFS and Touchstone are both subsidiaries of Western & Southern Financial Group. Mr. Kono had no further details.
