Nationwide Mutual Insurance Co. of Columbus, Ohio, named John H. Grady president of one of its retail arms, NWD Investment Management Inc. of Philadelphia.
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Mr. Grady, 45, had been the interim president of NWD, which was formerly Gartmore Global Investments Inc. He is keeping a post he was elected to in December, president and chief executive officer of Gartmore Funds, Nationwide said in Tuesday's announcement.
Nationwide Mutual's Nationwide Corp. subsidiary and Nationwide Financial Services Inc. announced that Nationwide Corp. had entered into a definitive agreement to sell NWD Investments' retail asset management business to Nationwide Financial. The deal is expected to close in the second quarter.
