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Rating:Waddell & Reed Has a New Investment Chief Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, August 16, 2010

Waddell & Reed Has a New Investment Chief

Reported by Armie Margaret Lee

Waddell & Reed tapped company veteran Philip Sanders as the new chief investment officer of Waddell & Reed Investment Management [see profile] and Ivy Investment Management Company [see profile].

Sanders, 50, takes over from Michael Avery, who became president of Waddell & Reed Financial Inc. in January. Sanders will report to Avery.

Avery, 56, continues as co-portfolio manager of the Ivy Asset Strategy Fund and Waddell & Reed Advisors Asset Strategy Fund.

Sanders has been with Waddell & Reed since 1998.  

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