MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, January 23, 2001 Keeping the Un-Fund Un-Pricey New York-based Netfolio hasn't gone on line yet, but the company is stocking up on executives to help run and market its Internet service. Netfolio has hired Assiff Hirji as president and Richard Graham has chief operating officer. Netfolio, erstwhile competitor of Foliofn, provides diversified stock portfolios for investors with a minimum of $5,000. Rather than provide a technology platform, however, the company promotes its quantitative investment advice. "We sell Personal Funds, which are personalized stock portfolios," said Ari Rosenbaum, vice president of marketing and brand management. "Rather than being shared mutually, they're owned individually. In our service, you don't purchase partial shares." According to Rosenbaum the service is getting ready to bring its 230 strategies on-line. "We're scheduled to go live early this year," Rosenbaum said. Founder and CEO Jim O'Shaughnessy has long promoted the efficiency of his system. Rosenbaum explained, "When you take out the middle man, you can deliver a diversified portfolio of stocks to the consumer at a very reasonable price." With economics a major focus of the venture, the two new executives will be mindful of trimming the fat. "We are fortunate to welcome two individuals who are committed new economy problem solvers, grounded in their attention to detail and operating margins," Douglas Von Allmen, a member of Netfolio's board of directors, said in a statement. Hirji, who had co-founded strategy consultant Mitchell Madison Group, is responsible for strategic alliances, product development, and technology. He has almost a decade of experience in dealing with international financial services strategy. Graham will be responsible for marketing and operations for the retail and institutional markets. He most recently comes from Adhesion Technologies, where he had also been chief operating officer. Graham has also consulted strategy in the financial services area and was a founding member of the Montreal office of McKinsey and Company. Printed from: MFWire.com/story.asp?s=26330 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |