Once again Lincoln Financial has tapped an investment professional to lead its Delaware Investments unit. The job opened with the resignation of Jude Driscoll. The Philadelphia-based asset management subsidiary has focused primarily on portfolio management over the past several years, leaving distribution to its parent company.

On Tuesday, Lincoln officials said that Patrick P. Coyne, a 17-year veteran at the firm, has taken the reins as Delaware Investments' new president replacing Driscoll. Coyne had been executive vice president and chief equity investments officer of Delaware Investments.

Driscoll took the top jobs at Delaware in January of 2003, three months after Charles E. Haldeman Jr left to take the CEO job at Putnam Investments after holding it on an interim basis. Before Haldeman's resignation, Driscoll was an executive vice president and head of fixed income at Delaware. He joined the asset manager in 2000 after serving as senior vice president at Conseco Capital Management and managing director at NationsBanc Montgomery Securities.

Lincoln Chairman and CEO Jon Boscia provided no specific reason for Driscoll's resignation more than three years as president, but alluded to it being a lifestyle issue. "I respect Jude's decision regarding his life's priorities," said Boscia. In a statement, firm officials added that Driscoll will "remain available during a transition period."

"I'm very proud of what Delaware Investments has been able to achieve over the past four years," said Driscoll in the statement. "I now look forward to spending time with my family and making plans for the next phase of my career and am confident Pat will carry on with Delaware's growth strategies."

Coyne was one of the executives credited with developing Delaware's current investment team structure created to improve the asset manager's investment performance. 

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