New CEO for Evergreen Investments

Evergreen Investments has a new CEO. Peter Cieszko, current president of global distribution, will be named to the position, replacing Dennis Ferro, president and chief executive, who will retire at the end of the year. Mr. Cieszko joined Evergreen in 2006. Prior to that, he held a variety of leadership positions at Baltimore-based Legg Mason Inc. and Citigroup Asset Management of New York. Mr. Ferro joined Evergreen as chief investment officer in 1999 and became president and chief executive in 2003. In addition, David Germany has been named the firm’s chief investment officer, replacing Chris Conkey, who left Evergreen in August 2007. Mr. Germany will join the firm Aug. 5 and will be based in Boston. Mr. Germany will lead the firm’s investment management team in the United States and abroad. Previously, he spent more than 21 years with Morgan Stanley Investment Management of New York, most recently as global head and chief investment officer for the firm’s fixed-income business.