Colin Lundgren will become head of fixed income for an expanded Columbia Management.
Following the completion of Ameriprise Financial’s acquisition of Columbia from Bank of America over the next few weeks, the unit will be integrated with Ameriprise’s money management arm, RiverSource Investments, under the Columbia Management name.
Mr. Lundgren will replace Michelle Keeley, who left in March for personal reasons, according to Ameriprise spokesman Ryan Lund. Currently, Mr. Lundgren is sector leader, institutional fixed income and asset allocation, with RiverSource. Mr. Lund said Mr. Lundgren will retain some of his current responsibilities, but over time, his portfolio management duties will be taken up by other members of the fixed-income team.
In addition, Todd White will become head of alternative and absolute-return investments for the combined organization, a new position, Mr. Lund said. Mr. White now is sector leader, liquid and structured assets, and Mr. Lund said he will be replaced in that role.
