Carl Londe Elected Chairman of Promanage
Chicago, January 23, 2002 — ProManage Inc., an independent corporation providing investment management services to companies and participants in 401k, 403(b) and 457 plans, today announced that ProManage’s Chief Executive Officer, Carl Londe, has been elected as Chairman of the Board of Directors.
With more than 25 years of management, financial and human resources experience, Londe will use his experience and expertise to continue to expand ProManage’s unique service offerings in the defined contribution industry.
In addition, Robert J. Law, ICM Asset Management senior vice president and general counsel , has been elected a director of the ProManage Board. Law brings to ProManage two decades of legal experience and has a history of investment management leadership roles. He received an LLM in taxation from New York University, and his law degree from the University of Montana. Law takes Jim Simmons’ seat on the ProManage Board.
The elections of Londe and Law prepare ProManage for a major sales and marketing push to plan sponsors and the investment management industry.
"Offering benefits to employers and employees alike, ProManage is uniquely positioned to take full advantage of the growing need for professional investment management in retirement plans," said Carl Londe. "I look forward to working with Bob and the rest of the ProManage Board as we continue to penetrate this huge market opportunity."
Through its low-cost, asset allocation services, ProManage is unique in its targeting the large and growing group of retirement plan investors who do not have the time, knowledge, or desire to make astute investment decisions. The vast majority of investors in the $2.7 trillion DC market – up to 85 percent according to Forrester Research – fall into this category.
Using established techniques to allocate assets across a broad range of diverse investments, ProManage functions as an investment manager for defined contribution plans, making all investment decisions and allocations for the participants in the plans. ProManage allocates portfolios for participants, and monitors the investments to ensure that the investor’s changing circumstances are reflected in the portfolio.
About ProManage
ProManage is an independent corporation providing investment management services to companies and their participants in 401k, 403(b) and 457 plans. ProManage's asset allocation programs respond to the needs of many defined contribution (DC) plan investors, who do not have the time, knowledge or desire to make astute investment decisions. These investors comprise up to 85 percent of all investors. The ProManage program offers help to the large group of investors who need a simple, effecitive way to manage their defined contribution assets.
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