Christian Thwaites, senior vice president and chief marketing officer of American Skandia, was promoted to chief executive officer of Skandia Global Funds. The unit is a new operational business unit domiciled in Dublin, Republic of Ireland, and the Cayman Islands, which will coordinate Global Funds management selection.

Succeeding Thwaites at American Skandia is Patricia J. Abram, named chief marketing officer and senior vice president, and Michael Murray, senior vice president. The firm also named Murray as chairman of the American Skandia Investment Committee. Both officially began their new responsibilities on June 1.

Thwaites will be based in London and the U.S. and will report to Ulf Spang, Skandia's executive vice president and chief financial officer, who sits on Skandia's Executive Management Board.

"This is an exciting opportunity," said Thwaites, in a statement. "Many of our competitors have formed successful offshore and global fund groups."  

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