Federated Investors, Inc. Hires Chief Executive Officer for New Asia Pacific Subsidiary to be Based in Australia
PITTSBURGH, Aug. 20, 2012 /PRNewswire/ -- Federated Investors, Inc. (NYSE: FII), one of the largest investment managers in the United States, today announced the hiring of Craig Bingham to lead the firm's new Asia Pacific subsidiary. Bingham will be based in Melbourne, Australia, and will report to Gordon J. Ceresino, vice chairman of Federated and executive director for international distribution.
Bingham will manage Federated's efforts to expand globally through the development of an Australia-based investment management hub that also will serve as a gateway for the firm's new business venture in Asia. The Melbourne office will focus on regional distribution of existing Federated strategies as well as the development of new products for Australia. In addition, Bingham will lead efforts to identify opportunities throughout Asia, primarily in Japan, Taiwan, Singapore and Hong Kong, as well as the Middle East.
Bingham has more than 20 years of financial services experience. Most recently, he served as chief executive officer for Aviva Investors' Australia and Asia Pacific regions, where he was responsible for developing fully licensed asset-management strategies, expanding Aviva's Australian presence and opening distribution offices in Japan, Taiwan and the Middle East.
"In his previous roles, Craig demonstrated success in investment management, expanding reach and growing business," said Ceresino. "He is an experienced leader who has the keen ability to recruit, hire and retain managers and investment professionals who share Federated's vision and philosophies for achieving long-term business growth while adding value for shareholders."
Federated will open the Melbourne office in the coming weeks and expects to have a sales and office support team in place by the end of 2012.
Federated's global business operations date to 1991, when Federated established Federated International Management Limited, a wholly owned subsidiary in Dublin, Ireland, becoming the first U.S. company whose registered money market funds were approved for distribution to the European community. In 1998, Federated launched a venture with German insurer LVM-Versicherungen to offer Federated funds in Germany and other German-speaking countries. And in April of 2012, Federated completed its acquisition of Prime Rate Capital Management LLP, a United Kingdom-based provider of institutional liquidity and fixed income products.
Federated Investors, Inc. (NYSE: FII) is one of the largest investment managers in the United States, managing $355.9 billion in assets as of June 30, 2012. With 138 funds and a variety of separately managed account options, Federated provides comprehensive investment management worldwide to approximately 4,700 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
Certain statements in this press release, such as those related to the establishment of an Australia-based subsidiary, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Other risks and uncertainties include the possibility that Federated does not successfully establish the office opening and/or staff it in a manner or timetable described above, as well as the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
SOURCE Federated Investors, Inc.