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Monday, August 29, 2011

Alger Remembers Employees Who Died on 9/11

News summary by MFWire's editors

The 10th anniversary of the 9/11 terrorist attacks will take place in two weeks, and Fred Alger Management [see profile] is paying tribute to its employees who died that day by launching a Web site.

In a press release last week, Fred Alger it also has other commemorative events planned, such as the dedication of the firm's new New York headquarters to the memory of the 35 employees, including then-CEO David Alger, who lost their lives during the terror attacks.

Crain's New York Business published an article yesterday on how the company reshaped itself after 9/11.

"It really mattered that we rebuilt in a way that was true to the spirit and culture of what we lost," said CEO Dan Chung, who filled the shoes vacated by David Alger.

The pub also notes that Fred Alger Managment currently has $17 billion of AUM, twice as much as it managed after 9/11.

Alger Commemorates Employees Lost on 9/11

On 10th Anniversary of 9/11 Firm Pays Tribute to the 35 Colleagues Lost in Attacks on World Trade Center; Thanks Clients Who Enabled Firm to Rebuild

New York, NY August 25, 2011

Fred Alger Management, Inc. (Alger), a leading asset-management firm widely recognized as the pioneer in growth-style investing, announced today that it has scheduled a series of events to commemorate the 10th anniversary of Sept. 11, 2001, including the launch of a new website, entitled “Alger - We Remember”.

The site, which is accessible at http://www.alger.com/911, pays tribute to the memory of the 35 Alger associates lost on 9/11 and thanks clients who supported the Firm as it worked to rebuild its business.

“I am proud and humbled that Alger is here today to present these commemorative efforts,” said Dan Chung, Alger’s Chief Executive Officer. “While not a day has gone by in ten years that I do not think about someone we lost, I am very proud that Alger today stands stronger than ever. As we mark this 10th anniversary, we honor our friends and colleagues who perished, the dedication of our employees, and the loyal clients who have supported us through the years.”

Alger’s “We Remember” site features three main components: a message from Mr. Chung, reflecting on the past 10 years and thanking clients for their support; a video in which Alger clients reflect on events during the week of 9/11/01; and an interactive mosaic of candle images each representing an Alger associate who perished on 9/11. As visitors click on each candle, images and information pertaining to the employee appear.

In addition, the site has links to other 9/11 organizations that Alger supports, including the 9/11 Memorial & Museum, VOICES of September 11th, and Portraits of Grief. Visitors can also link to Alger’s Candlelight Giving Facebook page where they can discuss the tributes and comment.

Other commemorative events will follow through the remainder of the year, including the dedication of Alger’s new New York headquarters to the memory of the 35 employees.

About Fred Alger Management, Inc.
Fred Alger Management, Inc. (Alger) was founded in 1964 and as of June 30, 2011 managed more than $17 billion. Alger's investment philosophy is focused on discovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Inc., a broker-dealer and the parent company of Fred Alger Management, Inc., offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit http://www.alger.com.

Edited by: Armie Margaret Lee

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