Jon Baum, vice chair of distribution for the Dreyfus Corporation, will be named CEO and J. Charles Cardona, vice chair, will be named president.
Tom Eggers, who held titles of both CEO and president, has elected to retire. All changes will be effective 31 March 2008.
“Jon will continue Dreyfus’ evolution as a first-class distribution firm. We would like to take this opportunity to thank Tom Eggers for his outstanding leadership of the firm,” says Jon Little, chairman of The Dreyfus Corporation, vice chair of BNY Mellon Asset Management and a member of the Bank of New York Mellon Executive Committee.
Baum joined Dreyfus in 2006 as the company’s vice chair of Distribution, overseeing distribution to intermediaries of all financial products, relationship management with intermediary partners, field management, retirement and separate account specialists and internal wholesalers.
Prior to joining Dreyfus, Baum was COO at Scudder Investments and CEO of its distribution company. He began his career in 1984 as a financial advisor with UBS Paine Webber.
Baum received his Bachelor of Arts degree from Bucknell University. He is active in the Securities Industry Association and the Investment Company Institute. He holds his NASD series 24, 6, 63, 7, 8 and 65 licenses.
Cardona began his career on Wall Street with Bradford Trust Company, prior to joining Dreyfus. A 27-year Dreyfus veteran, Cardona is vice chair of the corporation, responsible for overseeing the institutional selling efforts of approximately 25 investment sales professionals responsible for the growth and maintenance of approximately $175 billion in client assets.
Cardona is a graduate of Manhattan College with a bachelor’s degree in business administration. Dreyfus’ record assets under management of more than $260 billion, include record inflows into cash management and money market funds of more than $75 billion last year.
“Combined with Dreyfus’ historical investment expertise in money market and cash management funds, it is no surprise that Dreyfus has consistently achieved top industry rankings with Charlie at the helm of this business,” says Little.