Cieszko will be responsible for leading American Century Investments’ North America-based client business with responsibility for all institutional and intermediary sales.
Kansas City, MO (PRWEB) June 01, 2011
American Century Investments named Peter Cieszko, former president of Fidelity Investments Institutional Services Company, to the newly created position of senior vice president, North America. Cieszko will be responsible for leading American Century Investments’ North America-based client business with responsibility for all institutional and intermediary sales. Reporting to Michael Green, head of global client relationships, Cieszko will join the company later this summer.
“Peter brings invaluable experience and an exceptional track record leading asset management distribution businesses,” said Green. “He is a widely-respected industry veteran with significant distribution and product experience encompassing traditional and alternative asset classes designed to meet the evolving needs of institutional and intermediary clients. He will continue to build on the already strong momentum American Century Investments is realizing.”
In his new role, Cieszko will work with American Century Investments’ North America institutional and intermediary sales leadership to deliver the firm’s investment management expertise and solutions to North America-based clients, including corporate and public pension plans, endowments and foundations, as well as other financial institutions including wirehouses, regional and independent advisors, RIAs, banks and insurance companies. Combined assets under management for the company’s North America intermediary and institutional businesses are approximately $72 billion, about 64 percent of American Century Investments’ total assets under management of $113 billion as of April 30, 2011.
Cieszko also will partner with senior management to accelerate the growth of the company’s low- and non-correlated alternative investment capabilities, which currently represent about $3 billion in assets under management.
Cieszko comes to American Century Investments from Fidelity Investments Institutional Services Company, where he served as president of the $366 billion* business unit that provides investment management services to financial institutions. Prior to Fidelity, Cieszko was president and chief executive officer of Evergreen Investments, the investment management arm of Wachovia, which was later purchased by Wells Fargo. At Evergreen he also served as president of global distribution where he was responsible for the firm’s distribution, product and long-term growth strategies.
Cieszko joined Evergreen from Legg Mason, where he was head of U.S. distribution and also served as head of the U.S. retail and high net worth businesses of Legg Mason's predecessor firm Citigroup Asset Management. Throughout his 25-year financial services career, Cieszko has held various senior leadership positions with Nuveen Investments, Montgomery Asset Management, E.F. Hutton & Company and Merrill Lynch. He graduated from Villanova University with a bachelor’s degree in business administration.
American Century Investments is a leading privately held investment management firm, committed to delivering superior investment performance and building long-term client relationships since 1958. Serving investment professionals, institutions, corporations and individual investors, American Century Investments offers a variety of actively managed investment disciplines through an array of products including mutual funds, institutional separate accounts, commingled trusts and sub-advisory accounts. The company's 1,300 employees serve clients from offices in New York; London; Hong Kong; Mountain View, Calif. and Kansas City, Mo. James E. Stowers Jr. is founder of the company, Jonathan S. Thomas is president and chief executive officer and Enrique Chang is chief investment officer. Through its ownership structure, more than 40 percent of American Century Investments' profits support research to help find cures for genetically-based diseases including cancer, diabetes and dementia.
*Source: Fidelity Investments Institutional Services Company AUM as of Dec. 31, 2010 - $366 billion.
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American Century Investment Services, Inc., Distributor
©2011 American Century Proprietary Holdings, Inc.
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