TAMPA, Fla. -- D. Mark Olson, president and chief executive of Invest Financial Corp., has been named to the additional post of chairman.
Mr. Olson, 45, replaces Richard Redeker, who recently left Invest to become president of Prudential Mutual Fund Management.
Tampa-based Invest provides a variety of investment products and related marketing services to banks.
Mr. Olson joined Invest's parent company, Kemper Financial Services, in 1987 as national products sales director. Before joining Kemper, Mr. Olson spent 13 years with Shearson Lehman Brothers as a divisional sales manager.
WASHINGTON -- Ronald P. Lynch has been reelected to a one-year term as chairman of Investment Company Institute, the Washington-based trade group for mutual fund companies.
Mr. Lynch is managing partner of Lord, Abbett & Co., a mutual fund company based in New York.
In addition, the institute announced the election of 19 members to its board of governors.
In another move, the company reported that assets invested in money market mutual funds edged up to $575.35 billion in the week ended Oct. 13. That is a slight gain from $575.15 billion the week before.
Assets of retail money market funds totaled $388.7 billion, a $1.12 billion decline from the prior week. Institutional money funds totaled $186.65 billion, a $1.31 billion gain.