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Rating:A C-Level Exec Exits the Reserve Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 02, 2009

A C-Level Exec Exits the Reserve

Reported by Neil Anderson, Managing Editor

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..

Fund Action first reported 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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