Hugh McKee of BMO Financial Group Joins Virtus Investment Partners Board
February 01 2010 - 8:25AM
PR Newswire (US)
HARTFORD, Conn., Feb. 1 /PRNewswire-FirstCall/ -- Virtus Investment
Partners, Inc. (NASDAQ:VRTS), which operates a multi-manager asset
management business, today announced that Hugh M. S. McKee has been
elected to fill one of the two board positions held by
representatives of BMO Financial Group (NYSE, TSX: BMO). (Logo:
http://www.newscom.com/cgi-bin/prnh/20090105/NEM020LOGO ) In his
role as co-president and chief operating officer of BMO Investments
Inc., an affiliate of BMO Financial, McKee is responsible for
setting and executing on the strategic, product, investment and
operational direction for BMO's mutual fund business. "We welcome
the opportunity to have Hugh join the Virtus board," said George R.
Aylward, Virtus' president and chief executive officer. "His broad
experience in the financial services industry will give us
important perspectives as we position the company for new growth
opportunities." McKee joined BMO Financial in 2007 as vice
president, strategic initiatives, responsible for identifying and
addressing a broad range of strategic issues at the BMO Financial
Group level, and in its wealth and capital markets businesses.
Prior to joining BMO, he was a global account manager for the
financial services practice of a management consulting firm and
worked with a wide range of US, Canadian and European financial
services clients, including those in the wealth management,
banking, asset management and insurance industries. McKee takes the
position previously held by Barry M. Cooper, who relinquished his
role on the Virtus board as a result of changes in his job
responsibilities. About Virtus Investment Partners Virtus
Investment Partners (NASDAQ:VRTS) is a distinctive partnership of
boutique investment managers singularly committed to the long-term
success of individual and institutional investors. The company
provides investment management products and services through its
affiliated managers and select subadvisers, each with a distinct
investment style, autonomous investment process and individual
brand. Virtus Investment Partners offers access to a variety of
investment styles across multiple disciplines to meet a wide array
of investor needs. Additional information can be found at
http://www.virtus.com/. FORWARD-LOOKING STATEMENTS This press
release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 which, by
their nature, are subject to risks and uncertainties. Virtus
Investment Partners, Inc. ("Virtus") intends for these
forward-looking statements to be covered by the safe harbor
provisions of the federal securities laws relating to
forward-looking statements. These include statements relating to
trends in, or representing management's beliefs about, our future
transactions, strategies, operations and financial results, as well
as other statements including words such as "anticipate,"
"believe," "plan," "estimate," "expect," "intend," "may," "should"
and other similar expressions. Forward-looking statements are made
based upon our current expectations and beliefs concerning trends
and future developments and their potential effects on the company.
They are not guarantees of future performance. Actual results may
differ materially from those suggested by forward-looking
statements as a result of risks and uncertainties, which for Virtus
include, among others: (a) the effects of adverse market and
economic developments on all aspects of our business; (b) the poor
performance of the securities markets; (c) the poor relative
investment performance of some of our asset management strategies
and the resulting outflows in our assets under management; (d) any
lack of availability of additional financing on satisfactory terms
or at all; (e) any inadequate performance of third-party
relationships; (f) the withdrawal of assets from our management;
(g) our ability to attract and retain key personnel in a
competitive environment; (h) the ability of independent trustees of
our mutual funds and closed-end funds, intermediary program
sponsors, managed account clients and institutional asset
management clients to terminate their relationships with us; (i)
the possibility that our goodwill or intangible assets could become
further impaired, requiring a charge to earnings; (j) the strong
competition we face in our business; (k) potential adverse
regulatory and legal developments; (l) the difficulty of detecting
misconduct by our employees, sub-advisors and distribution
partners; (m) changes in accounting standards; and (n) certain
other risks and uncertainties described in the 2008 Annual Report
on Form 10-K and in our other filings with the SEC. Virtus does not
undertake any obligation to update or revise publicly any
forward-looking statement, whether as a result of new information,
future events or otherwise.
http://www.newscom.com/cgi-bin/prnh/20090105/NEM020LOGO
http://photoarchive.ap.org/ DATASOURCE: Virtus Investment Partners
CONTACT: Joe Fazzino of Virtus Investment Partners,
+1-860-263-4725, Web Site: http://www.virtus.com/
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