Erin Higginbothan, manager of credit research at American Beacon Advisors, recently took over as portfolio manager for a short-term reserve fund at the Dallas-area manager. She replaces Bonnie Mitra, senior portfolio manager, who recently left to run a liquidity fund at Perot Investments, a hedge fund.
In her new role, Higginbothan runs about $4.5 billion in short-term assets for American Beacon, which manages portfolios for AMR Corp., parent of American Airlines. The fund also runs money for external corporate clients, she said.
American Beacon was previously known as AMR Investment Services until it adopted the American Beacon moniker in March. AMR originally had only managed the airline's pension assets; the asset manager had about $37.5 billion under management as of earlier this year.