NEW YORK, Oct. 6 /PRNewswire/ -- OppenheimerFunds, Inc. announced today that Art Steinmetz has been promoted to Chief Investment Officer. The firm also announced that George Evans has been named Director, Equities, and Krishna Memani has been named Director, Fixed Income. These senior-level promotions within the firm's investment management group become effective immediately.
Mr. Steinmetz, who holds the title of Executive Vice President and joined OppenheimerFunds in 1986, has served as Chief Investment Officer, Fixed Income, since 2009. His role has been expanded to assume responsibility for overseeing all Equities and Fixed Income investment capabilities including investment strategy, strategic planning and personnel. He will continue to serve as co-manager of Oppenheimer International Bond Fund, Oppenheimer Global Strategic Income Fund and Oppenheimer Global Allocation Fund. In this expanded role, Mr. Steinmetz replaces Christopher Leavy, former head of Equities, who is leaving OppenheimerFunds to join another organization.
"Art Steinmetz is widely recognized as an innovator in our industry and one of its most successful portfolio managers," said Bill Glavin, CEO of OppenheimerFunds. "During his nearly 25 years at OppenheimerFunds, he has proven himself to be not only a truly gifted investment manager, but also a strong leader of people and teams. I look forward to working together with Art in his new role and congratulate him on a well-deserved promotion."
Mr. Evans, Senior Vice President and Director of International Equities, will assume the additional role of Director for all Equity investment teams. He will continue to serve as Portfolio Manager of Oppenheimer International Growth Fund and Oppenheimer International Diversified Fund, and will join Mr. Steinmetz and Mr. Memani as co-manager of Oppenheimer Global Allocation Fund. He joined OppenheimerFunds in 1990.
As Director, Fixed Income, Mr. Memani will continue to be responsible for the portfolio management of the firm's investment grade strategies, including Oppenheimer Core Bond Fund, Oppenheimer U.S. Government Trust and Oppenheimer Limited-Term Government Fund. Mr. Memani, Senior Vice President, joined OppenheimerFunds in 2009.
"George and Krishna have made invaluable contributions to OppenheimerFunds and their leadership of our Equity and Fixed Income investment teams will help pave the way for Art to transition successfully into his expanded role," added Mr. Glavin. "With George and Krishna working in concert with Art, I believe our senior investment management leadership team sets the standard for the industry."
About OppenheimerFunds, Inc.
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. As of September 30, 2010, OppenheimerFunds, Inc., including subsidiaries, managed more than $165 billion in assets, including mutual funds having approximately 6 million shareholder accounts.
Shares of mutual funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service.
Before investing in any of the Oppenheimer funds, investors should carefully consider a fund's investment objectives, risks, charges and expenses. Fund prospectuses and if available, summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting our website at www.oppenheimerfunds.com, or calling us at 1.800.525.7048. Read prospectuses and if available, summary prospectuses, carefully before investing.
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