More than five months after the bankruptcy of Lehman Brothers caused the Reserve Prime Fund
to break the buck, a top exec is heading out. CIO Patrick Ledford
confirmed to the MFWIre
that he has left the Manhattan-based money fund firm..
the move, adding that Reserve has eliminated the separate position of chief investment officer.
A spokesman for the Reserve declined to comment for this story.
A 17-year veteran of Citigroup Asset Management
, Ledford joined the Reserve as CIO in 2005.
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