Christopher P. Keating, director and head of institutional sales, client service and consultant relationships with RiverSource Investments, will leave the firm in spring to pursue other opportunities, confirmed Ryan Lund, a spokesman for parent company Ameriprise Financial.
Ameriprise last month agreed to buy the long-only equity and fixed-income business of Columbia Management from Bank of America. Following that deal’s expected close in spring 2010, Jeffrey Peters, senior vice president and head of global institutional distribution for Columbia Management, will head institutional sales for the combined money management operation.
With strong talent at all levels, “combining our firms requires the elimination of some positions” to create an efficient, high-performing organization after the merger, Mr. Lund said.
Mr. Keating couldn’t immediately be reached for comment.