The executive who spearheaded Dreyfus' new Lion account has resigned, a spokeswoman confirmed.
William Glavin Jr., executive vice president and director of product management at Mellon Bank Corp.'s mutual fund subsidiary, is joining Scudder Stevens & Clark - in order to return to Boston, observers said.
He will remain at New York-based Dreyfus through the end of the month, the spokeswoman said.
Mr. Glavin joined Dreyfus in 1994, after a three-year stint at the investor services group of Boston Co., another Mellon unit. He is widely credited with helping engineer the rollout of the long-awaited Lion Account late last year.
The account, which combines traditional banking services with investment products, is now one of Dreyfus' core products and is the subject of a major television and print advertising campaign.
Mr. Glavin has strong roots in Boston. Prior to joining Boston Co., he worked at another of the city's venerable institutions-State Street Bank and Trust Co.-marketing global custody to institutional investors. He could not be reached for comment.
Mr. Glavin will be general manager of Scudder's AARP Investment Program, overseeing its day-to-day business. Scudder became the exclusive provider of mutual funds to American Association of Retired Persons members in 1984, and currently manages about $14 billion in assets for the group.
He is set to begin work on March 31 and report to Linda C. Caughlin, chairman of the AARP program.
While at Dreyfus, Mr. Glavin reported to another Boston Co. alumnus, Christopher W. "Kip" Condron, chief executive of Dreyfus and a Mellon vice chairman. They did not work together at the Boston Co. though their tenures overlapped.
The Dreyfus spokeswoman said a search for Mr. Glavin's replacement is under way.
