Nations Gartmore Investment Management, the investment management subsidiary created by NationsBank Corp. and Gartmore Capital Management earlier this month, has appointed three executives.
Charles G. Smith 4th was named president and chief operating officer of the new firm that will provide NationsBank's clients with a range of international investment products.
Mr. Smith, who had been NationsBank's chief investment officer for client portfolios for the past decade, will lead the Nations Gartmore's business development and client service teams. These teams will be based at the banking company's headquarters in Charlotte, N.C. Mr. Smith will also oversee the investment management team at Gartmore Capital's headquarters in London.
John W. Munce will succeed Mr. Smith as leader of NationsBank's investment management activities. Mr. Munce will retain responsibility for the banking company's proprietary mutual fund family and the institutional trust business.
Simon H. Davies of Gartmore will serve as Nations Gartmore's chief investment officer and Gartmore's Kevin D. Welsh will be managing director for business development.
Gartmore Capital, a subsidiary of Gartmore PLC, has $32 billion of mutual funds under management and specializes in international investing. Nations Gartmore will serve as investment adviser to a new line of mutual funds that will be part of NationsBank's $14 billion proprietary fund family.