Paul G. Haaga, Jr., Executive Vice President and Director of Capital Research and Management Company, of Los Angeles, was elected today to a one-year term as Chairman of the Investment Company Institute, the national trade association of the American investment company industry.
As Chairman, Mr. Haaga presides over the Board of Governors, the governing body of the Institute, whose members include mutual funds, closed-end funds, exchange-traded funds, and unit investment trusts. The Board is responsible for setting policy and overseeing activities of the Institute. Mr. Haaga is also a member of the Institute’s Executive Committee.
Mr. Haaga brings nearly 30 years of investment company experience to the position of Institute Chairman. Prior to joining Capital, investment adviser to the American Funds, in 1985, Mr. Haaga was a partner in the law firm of Dechert Price & Rhoads in Washington, DC. Mr. Haaga worked as a senior attorney for the Division of Investment Management of the U.S. Securities and Exchange Commission from 1974 to 1977.
Mr. Haaga earned a bachelor’s degree from Princeton University, an MBA from the Wharton School and a law degree from University of Pennsylvania Law School.
In addition to Mr. Haaga’s election, members of the Board of Governors appointed 17 new members to the Board – 15 new Governors and two vacant positions were filled. Governors are elected annually to staggered three-year terms. The newly elected Governors, with terms expiring September 30, 2005, include:
Anne F. Ackerley, BlackRock Investments, Inc.
John F. Cogan, Jr., Pioneer Investment Management USA, Inc.Dawn-Marie Driscoll, Independent Director – Scudder FundsWilliam M. Ennis, Evergreen Investments, Inc.Paul G. Haaga, Jr., Capital Research and Management CompanyThomas L. Hansberger, Hansberger Global Investors, Inc.Edith E. Holiday, Independent Director – Franklin Templeton Group of FundsStephen H. Hopkins, Citigroup Asset ManagementDavid J. Kundert, Banc One Investment Management GroupJohn W. McGonigle, Federated Investors, Inc.Philip D. Murphy, Goldman SachsDavid R. Odenath, Jr., Prudential InvestmentsTimothy R. Schwertfeger, Nuveen InvestmentsMichael D. Strohm, Waddell & Reed, Inc.Mark H. Williamson, INVESCO Funds Group, Inc.
The following individuals were elected to fill open positions on the Board of Governors:
Kenneth C. Eich, Davis Selected Advisers, L.P.William N. Shiebler, Deutsche Asset Management
Governors who will continue to serve on the Board of Governors are:
Lynn L. Anderson, Frank Russell Investment Management Co.James H. Bodurtha, Independent Director – Merrill Lynch FundsJohn D. Carifa, Alliance Capital Management L.P.Christopher M. Condron, AXA Financial Inc.Jeff B. Curtis, Columbia Funds Management Co.Robert S. Dow, Lord, Abbett & Co.Martin L. Flanagan, Franklin Templeton CompaniesMaureen R. Ford, John Hancock FundsMartin E. Galt, III, TIAA-CREFGeorge C.W. Gatch, J.P. Morgan Fleming Asset ManagementTerry K. Glenn, Merrill Lynch Investment ManagersRobert H. Gordon, Banc of America Capital ManagementRobert H. Graham, AIM Management Group Inc.Charles E. Haldeman, Jr., Delaware InvestmentsJames B. Hawkes, Eaton Vance Corp.Lawrence J. Lasser, Putnam InvestmentsAnn R. Leven, Independent Director – Delaware FundsWilliam M. Lyons, American Century InvestmentsAlfred E. Osborne, Jr., Independent Trustee – WM Group of FundsMarguerite A. Piret, Independent Trustee – Pioneer FundsThomas O. Putnam, Fenimore Asset Management Inc.John W. Rogers, Jr., Ariel Capital Management Inc.Brian M. Storms, UBS Global Asset Management (US)Peter E. Sundman, Neuberger Berman Management Inc.Stephen B. Timbers, Northern Trust Global InvestmentsDavid C. Weinstein, Fidelity InvestmentsMark B. Whiston, Janus Capital Management LLCDavid M. Znamierowski, Hartford Life Insurance Co.