John Grady named president of NWD Investments
For Immediate Release
March 20, 2007
Joe Case 614-249-6353
Erica Lewis 614-249-0184
COLUMBUS, Ohio,—Nationwide Mutual Insurance Company today announced that John H. Grady, 45, has been named president of the Greater Philadelphia-based retail operations of NWD Investment Management, Inc. (formerly Gartmore Global Investments, Inc.).
Prior to the announcement, Grady had fulfilled this role on an interim basis. He will continue to serve as president and chief executive officer of Gartmore Funds, a position he was elected to in December 2006 by the Boards of Trustees of Gartmore Funds.
Earlier this year, Nationwide Corporation (a subsidiary of Nationwide Mutual Insurance Company) and Nationwide Financial Services, Inc. (NYSE: NFS) announced that Nationwide Corporation had entered into a definitive agreement for the sale of the retail asset management business of NWD Investments to Nationwide Financial. The transaction is expected to close during the second quarter of 2007.
This transaction will enable Nationwide Financial to become a more comprehensive provider of financial services. Once the transaction closes, Nationwide Financial will be the adviser to many investment offerings within its products via sub-advised relationships and will offer retail mutual funds.
Grady came to Nationwide from Constellation Investment Management Company, a Berwyn, Pa.-based investment adviser and sponsor of the Constellation Funds Group complex. He served as chairman and chief executive officer of both firms. Prior to his time with Constellation, Mr. Grady served as chief operating officer for Turner Investment Partners, Inc., a registered investment adviser based in the Philadelphia area, and was a partner in the investment management practice group of Morgan, Lewis & Bockius, LLP.
About Nationwide Mutual
Nationwide Mutual, based in Columbus, Ohio, is one of the largest diversified insurance and financial services organizations in the world, with more than $158 billion in assets. Nationwide ranks #98 on the Fortune 100 list, based on 2005 revenue.i The company provides a full range of insurance and financial services, including auto, motorcycles, boats, homeowners, life, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions and long-term savings plans. For more information, visit www.nationwide.com.
About Nationwide Financial®
Nationwide Mutual includes Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company that provides a variety of financial services that help consumers invest and protect their long-term assets. It offers retirement plans and services through both public- and private-sector employers.ii
About NWD Investment Management
NWD Investment Management, Inc. is the asset management business of Nationwide Mutual Insurance Company. Located outside Philadelphia, Pa., NWD Investments manages more than $51.2 billioniii in assets through its investment management platform driven by 61 investment management professionals and supported by a staff of more than 250. NWD Investments provides core and specialty equity, fixed-income and alternative investment solutions through mutual funds, separate accounts, commingled portfolios and wrap accounts to individual and institutional clients. For more information, please visit www.nwdfunds.com.
Nationwide, Nationwide Financial and the Nationwide Framemark are federally registered service marks of Nationwide Mutual Insurance Company. On Your Side is a service mark of Nationwide Mutual Insurance Company