American Century names new executive VP, COO

American Century Investments appointed Patrick Bannigan to executive vice president and chief operating officer, effective Nov. 5. Bannigan succeeds COO Barry Fink, who is retiring from the firm next year.

As chief operating officer, Bannigan has oversight responsibility for all operational, technological and financial activities. Specific areas reporting to Bannigan include finance, investment operations, client operations, facilities and real estate and information technology. He also serves on American Century’s management committee, the firm’s senior leadership team responsible for establishing and executing strategic priorities.

Bannigan’s most recent position was with RiverSource (now Columbia Management and part of Ameriprise Financial), where he served as president of RiverSource Funds and senior vice president and general manager of RiverSource Investments. In that role, he was responsible for managing the overall business, including the operational aspects of the investment management division. Bannigan previously served as managing director and global head of product for Morgan Stanley Investment Management, where he oversaw the management and development of MSIM’s retail and institutional product lines.

Earlier in his career, he served as president of Touchstone Investments, a third-party wholesale distributed and subadvised mutual fund provider. He also had experience with Evergreen Investments as director of strategic planning, mergers and acquisitions and product development. Previously, he was with Alliance Capital Management, where he was a member of its legal department.

Bannigan holds a bachelor’s degree from Guilford College, Greensboro, N.C., and a juris doctorate from the Oklahoma City University School of Law. He also serves as a director on the boards of two nonprofit organizations: the “Rx Matters Foundation” and “All-In to Fight Cancer.”

Earlier this year, Barry Fink, who has served as American Century’s COO since 2007, announced he would retire from the company, effective Feb. 15, 2013. He plans to remain in the Kansas City area and will continue his role as an American Century mutual fund board director. 

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