Former Ameriprise Financial Services gatekeeper Manisha Singh has left the broker-dealer and joined AIG as a portfolio manager within its asset allocation team.
At Ameriprise Singh was a research analyst within its manager research division, which is led by vice president Michael Jastrow.
She was responsible for manager selection and due diligence on third party products on Ameriprise’s wealth management platform as well as for a series of fund of funds with $30 billion of assets, according to her LinkedIn profile.
According to a white paper by the firm and her LinkedIn page, Singh was lead analyst for value equity and equity income funds as well as real estate investment trusts.
She joined Ameriprise in 2010 as senior product manager of retirement wealth strategies before taking on her most recent role in 2011.
Prior to joining Ameriprise, she was a senior performance analyst at Columbia Threadneedle, the asset management business of Ameriprise Financial, from 2008 until 2010.
In April Citywire reported how Ameriprise made changes to the way it ran some of its manager selection processes, handing wider roles to investment consultants Wilshire Associates and hiring Russell Investments.
Wilshire now manages Ameriprise’s Active Diversified portfolios, discretionary wrap accounts, which provide a range of investment options to match clients’ risk profiles.
Previously, Wilshire was used for some consultancy work on the portfolios but has now been appointed for full discretionary oversight.
The move did not affect Jastrow and his team in constructing the firm's recommended manager lists.
Earlier this month, Ameriprise announced that it would cut 1,500 of the funds from its platform, leaving around 2,000, based on performance, assets and cost.
The firm did not disclose any further criteria for those funds cut.
In March, the firm saw the departure of another research analyst from the manager research team, Jason Massingill,who went on to join Sawmill Private Wealth Management.
Ameriprise did not respond to requests for comment by the time of publication. AIG could not comment at the time of publication.