President, Personal Advisors Group,
The financial services industry is a small world,
and Don Froude would likely agree. Earlier this decade,
from 2004 to 2006, he was president of Columbia Management's
intermediary distribution group. Now, Froude is a little
over a year into his role as president of the personal advisors
group at Ameriprise Financial after a stint at Legg Mason,
and Columbia is in the process of selling its long-term
asset management business to Ameriprise's RiverSource Investments
Ameriprise had a total of about 12,500 advisors as of September.
"In terms of recruiting, this is probably the best year we have ever had,"
Froude told the Wall Street Journal.
Prior to joining Ameriprise, Froude ran U.S. distribution
at Legg Mason. Earlier in his career, he served as CEO of Quick & Reilly,
the brokerage investment arm of Fleet Boston Financial that became
part of Bank of America in 2004. He previously worked
at Prudential Securities and Deutsche Bank Alex Brown.
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