HOUSTON, May 14 /PRNewswire/ -- American General Corporation (NYSE: AGC)
today announced that Alice T. Kane has been named executive vice president of
American General Investment Management, L.P., (AGIM), American General's
recently formed investment advisory subsidiary. AGIM operates as a registered
investment adviser under the Investment Advisers Act of 1940.
AGIM, which succeeds American General's investment division, will offer a
broad range of investment services to non-affiliated customers including
public and private fixed-income investment management, asset/liability
management, and specialty investment advisory services to private
corporations, insurance companies, pension funds, and profit sharing plans.
AGIM also plans to offer advisory services to registered investment companies
in the future.
"We are pleased to welcome Alice to our investment management team and
believe that her success in asset management and solid track record in
building mutual funds will lead American General into this exciting and
growing market," said Robert M. Devlin, chairman and chief executive officer
of American General Corporation. "AGIM ranks as one of the largest fixed
income managers in the country today with $66 billion of invested assets. With
this new structure now in place, AGIM can offer non-affiliated parties the
same high level of skill, dedication, and experience that has previously been
available only to American General and its subsidiaries," Devlin added.
In addition to serving in the newly created position of executive vice
president of AGIM, effective June 1, 1998, Kane was also elected senior vice
president of the parent company and will report directly to Richard W. Scott,
executive vice president and chief investment officer of American General
Corporation and president and chief investment officer of AGIM.
Kane, 50, joins American General from New York Life Insurance Company
where she has served her entire financial services industry career since
joining the company in 1972. Most recently, she was executive vice president
and chief marketing officer after serving as executive vice president with
responsibility for managing the company's asset management division from 1994
to 1997. Kane was also chairman of New York Life's MainStay Mutual Funds. She
served as general counsel of New York Life from 1986 to 1995 and led the legal
division during the company's transition to a diversified financial services
organization. She also managed the company's advertising and public relations
activities while serving as general counsel. Prior to being elected general
counsel, she was responsible for the company's human resources division.
Kane, a native of New York, received her B.A. degree in political science,
with honors, from Manhattanville College in 1969 and her J.D. degree from New
York University School of Law in 1972. She completed the Professional
Management Development Program at Harvard University in 1985.
American General Corporation is one of the nation's largest diversified
financial services organizations with assets of $96 billion and market
capitalization of $17 billion. Headquartered in Houston, it is a leading
provider of retirement services, life insurance, and consumer loans to 12
million customers. American General common stock is listed on the New York,
Pacific, London, and Swiss stock exchanges.
SOURCE American General Corporation
 back to top
Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 114643
CONTACT:
Investors: David W. Entrekin, Vice President
- Investor Relations, 212-446-3109; or Media: John E. Pluhowski,
Director - Corporate Communications, 713-831-1149, both of
American General Corporation
|
