Gene Needles just promoted his right hand man at American Beacon Advisors [profile] and its multi-boutique, private-equity-backed parent, Resolute Investment Managers.

Last month Jeff Ringdahl rose to president of American Beacon and of Resolute Investment, MFWire has learned. Ringdahl continues to serve as chief operating officer and director of both companies.

Needles, chairman and CEO of American Beacon and Resolute, previously also held the president post, too. He did not immediately respond to a request for comment.

Ringdahl, who joined America Beacon eight years ago, described the promotion as "largely a title change" that catches up to duties that he's "already been up to." Ringdahl's COO duties already include overseeing the general counsel, CFO, and leaders in product management, risk management, and corporate development.

"It's been an evolution over time," as M&A and corporate development have become more important at the company, Ringdahl tells MFWire. His duties, he says, were already "perhaps a little broader than a typical COO's." 

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