Pioneer Global Asset Management Nominates Don G. Powell to Board
Boston, Massachusetts - Pioneer Global Asset Management S.P.A. (Pioneer
Global) announces the nomination of Don G. Powell as an independent member
of its Board of Directors. Mr. Powell will join Franco Bruni, David Silver,
and Francesco Taranto as the fourth independent member of the Pioneer Global
Board. The twelve-member Board is chaired by Pietro Modiano, Chairman of
Pioneer Global, and meets at the company's headquarters in Milan, Italy.
"We are honored to welcome such a highly regarded and knowledgeable industry
veteran to our Board," says Dario Frigerio, CEO of Pioneer Global. "Don's
guidance should help Pioneer Global immensely as we seek to achieve our
aggressive goals over the next several years."
Mr. Powell brings 15 years of experience as a mutual fund board trustee; he
is the retired Chairman of the American Capital Closed End Fund Board and
the Common Sense Trust Open End Fund Board, and was a Member of the American
Capital Open End Fund Board. He was also Chairman of the Investment Company
Institute from 1996-1998. Mr. Powell has over 30 years of senior-level
financial industry experience. Most recently, he was President and CEO of
Van Kampen Investments, where assets grew from $18 billion to $80 billion
during his 12-year tenure. Previously, Mr. Powell held positions in both
retail and institutional investment firms including Frank Russell Investment
Company, Mellon Bank, State Street Bank & Trust, and Citicorp Investment
Management. Mr. Powell also had board affiliations with the Houston Symphony
Orchestra, University of St. Thomas, Houston Museum of Natural Science, and
the University of Puget Sound. He is a Chartered Financial Analyst and holds
an M.B.A. (University of Michigan) and a B.S. degree (University of Kansas).
Pioneer Global Asset Management S.p.A. and its subsidiaries managed $95
billion (as of January 31, 2002) under the name Pioneer Investments®.
Pioneer's flagship fund, Pioneer Fund was founded in 1928 and is the fourth
oldest mutual fund in the United States.
