American Century Investments appointed Patrick Bannigan to executive vice president and chief operating officer, effective Nov. 5. Bannigan succeeds COO Barry Fink, who is retiring from the firm next year.

As chief operating officer, Bannigan has oversight responsibility for all operational, technological and financial activities. Specific areas reporting to Bannigan include finance, investment operations, client operations, facilities and real estate and information technology. He also serves on American Century's management committee, the firm's senior leadership team responsible for establishing and executing strategic priorities.

Bannigan's most recent position was with RiverSource (now Columbia Management and part of Ameriprise Financial), where he served as president of RiverSource Funds and senior vice president and general manager of RiverSource Investments. In that role, he was responsible for managing the overall business, including the operational aspects of the investment management division. Bannigan previously served as managing director and global head of product for Morgan Stanley Investment Management, where he oversaw the management and development of MSIM's retail and institutional product lines.