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Evergreen Investments Announces Institutional New Hire Appoints Michael Borkan as Managing Director of Distribution for Europe, the Middle East and Africa CHARLOTTE, NC—Evergreen Investments is pleased to announce the appointment of Michael Borkan as managing director of distribution for Wachovia Global Asset Management, the name under which Evergreen conducts institutional business development, sales and distribution efforts in non-U.S. markets. In this London-based role, Borkan will oversee development of new institutional business in Europe, Africa and the Middle East through sub-advisory relationships and traditional institutional pensions, public funds, and not-for-profit investment management opportunities. Borkan will report to Patrick O'Brien, head of Evergreen's international distribution. "Michael will play an integral role as Evergreen continues to develop our presence in the global institutional marketplace," said Peter Cieszko, president of global distribution for Evergreen. "Michael's substantial experience in marketing asset management to institutional and wholesale clients in Europe and his established track record of winning and developing new business will serve as a catalyst as we broaden our international institutional book of business." Borkan joins the firm with more than 12 years experience with leading European fund management firms, most recently serving as the Northern Europe regional manager for Old Mutual Asset Managers. Previously, Michael was head of international and alternative sales for Resolution Asset Management. His prior industry experience includes roles at Sinopia, an HSBC company, and PIMCO Global Advisors. "We continue to build on the depth of our domestic product and service capabilities while building an extensive and diversified distribution network abroad," said O'Brien. "Leveraging Michael's leadership, local presence and strong client relationships, we will seek to deliver best-in-class investment strategies to consultants and sub-advisory and institutional clients in non-U.S. markets." Borkan holds a bachelor's degree from Cornell University, a master's in business administration from the University of Chicago, and a diploma in management from Oxford University. He currently serves as a member of the University of Chicago Graduate School of Business' European Advisory Board as well as the Development Board of the University of Warwick Business School. He has also served as a Trustee of the University of Birmingham (England) and as a member of its Investment Committee; as a member of the Higher Education Funding Council of England's Leadership, Management and Governance Board; and as a member of the Cornell University Council. In addition to strengthening the firm's sales and client service teams with key personnel appointments, Evergreen has demonstrated its commitment to the global institutional marketplace through strategic partnerships with top-tier investment management firms. In January 2007, the firm announced a majority acquisition of European Credit Management (ECM), a London-based fixed income investment management firm with approximately $34 billion in assets under management. In recent years, the firm has also taken a strategic minority stake in Golden Capital Management, a Charlotte-based boutique asset manager with $4.7 billion in AUM, and a majority stake in Metropolitan West Capital Management, a $10 billion manager in predominately large cap value equity portfolios for retail and institutional clients. Evergreen Institutional, a division of Evergreen Investments, had more than $129 billion in assets under management as of Dec. 31, 2007. About Evergreen Investments About Wachovia |
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