Columbia Management Group, Bank of America's investment management arm, said Tuesday that it has hired Randall Royther to be the chief investment officer for its money market investments platform.
Mr. Royther is to run Columbia's cash platform, which had $110 billion of assets under management at Sept. 30. The platform includes a broad team of portfolio managers, credit analysts, and traders. He is to run the Nations Funds, Galaxy Funds, and Columbia Funds money market platforms.
Columbia also said it hired Patrick Graham to be a senior portfolio manager of money market investments. He is to oversee domestic prime money market funds and manage the Nations Cash Reserves Fund and the Nations Money Market Reserves Fund. These portfolios had more than $62 billion of assets at Sept. 30.
Mr. Royther was a senior partner and a portfolio manager at Harris Investment Management.
Mr. Graham worked at Banc One Investment Advisors Corp., where he was a senior money market portfolio manager responsible for the institutional prime money market fund.
