ICI Re-Elects Flanagan

The Investment Company Institute's Board of Governors has re-elected Martin L. Flanagan, president and CEO of Amvescap, to his second consecutive one-year term as chairman of the institute, which represents mutual funds, closed-end funds, exchange-traded funds and unit investment trusts. The board also elected Paul G. Haaga, Jr., executive vice president of Capital Research and Management Company, to serve another one-year term as vice chairman.

Some 15 governors have been appointed to new three-year board terms, including two new members: Edward C. Bernard of T. Rowe Price Group and Susan B. Kerley of New York Life Eclipse Funds and Legg Mason Partner Funds.

ICI has also announced the hiring of Peter H. Gallary as COO. He will report directly to ICI President Paul Schott Stevens. He most recently worked for Putnam Investments, where he was a managing director and head of operations, and has served as a management consultant to many fund companies.