Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Layoffs Hit a Midwest Fund Firm Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 27, 2010

Layoffs Hit a Midwest Fund Firm

Reported by Armie Margaret Lee

RiverSource Investments, whose parent Ameriprise Financial is in the process of buying Columbia Management's long-term asset management business, is laying off some employees in sales and marketing, The MFWire has learned.

A source told The MFWire that RiverSource on Monday announced layoffs affecting some workers in marketing and that last week, the Minneapolis-based fund firm notified some internal and external wholesalers of layoffs.

The number of people affected could not immediately be confirmed.

RiverSource spokesman Ryan Lund declined to comment on specifics.

"We are in the process of combining two firms that have very strong talent at all levels, and our goal is to build upon those strengths," Lund wrote in e-mailed comments to The MFWire.

"While these decisions are difficult, they are a part of the integration process. We continue to thoroughly review current roles and talent and evaluate the needs of the organization, as well as the best interests of our shareholders."

Ameriprise's $1 billion acquisition of Columbia's long-term business was unveiled September 30 and is slated to close this spring. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2018
40 Wall Street | 28th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use