Money fund industry veteran Tom Nelson has joined IDC Deposits as director of institutional sales. The company, also known as Institutional Deposits Corp., offers a money market account product with insurance of $15 million per investor.
Eric Lansky will be leaving The Reserve.
A Businesswire release states, "The Reserve announced that Joseph T. Monagle, Jr., a former senior executive with Merrill Lynch & Co.'s asset management business, has been hired to evaluate The Reserve's portfolios and advise the independent trustees as the company and its investment adviser, Reserve Management Company, Inc., liquidate certain of the Fund's portfolios.
Portfolio manager Mark Amberson, Philip Coates and Helen Stewart are no longer with Russell Investment Management, manager of Russell Money Market Fund. Kelly Mainelli is now lead portfolio manager on the Russell money funds. In other news, Said Rafat is no longer with Fitch Ratings.