American Savings Bank of Irvine, Calif., hired an investment products marketing executive to head its broker-dealer affiliate.
The $18.5 billion-asset thrift named Randall Ciccati president of ASB Financial Services, its brokerage subsidiary.
Mr. Ciccati was a national sales director for GNA Corp., for which he oversaw the investments sales program at Chase Manhattan Bank. He left GNA, a General Electric Co. subsidiary, last month to join American Savings.
He replaces Donald Faul, who left American Savings in November for personal reasons, a spokeswoman for the thrift said.
ASB Financial has more than 70 investment sales representatives, who work in the thrift's 159 branches and 50 loan centers throughout California.
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Federated Investors is launching a global fixed-income and equity investment unit, in a push to expand its international money management business.
The Pittsburgh-based investment management company named Henry A. Frantzen, a former manager at Brown Brothers Harriman, to be executive vice president in charge of the new unit.
Mr. Frantzen will manage 13 to 15 portfolio managers, whom the company will hire by yearend, Mr. Frantzen said.
He will oversee new product development for Federated. The company plans to unveil a global equity or fixed-income fund within 12 months, but Mr. Frantzen but would not reveal the investment objective.
Federated already has two international portfolios, the International Equity Fund and the International Income Fund, which are sub-advised by Fiduciary Trust Co.
The plan is to bring the two sub-advised portfolios under Mr. Frantzen's oversight within two years. He declined to say when that would happen or whether Fiduciary Trust will continue to work with the funds.
Federated is the nation's sixth-largest investment management company. It manages or administers more than $70 billion of assets, in more than 250 mutual funds.
