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Article: Alps Securities prospers by thinking small. (low-cost mutual fund distributor) (Company Profile)
- Article from:
- American Banker
- Article date:
- July 7, 1993
- Author:
CopyrightCOPYRIGHT 1993 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When W. Robert Alexander and Arthur J. Lucey quit First National Bank of Denver in 1986 to set up a mutual fund distribution company called Alps Securities, the competition scoffed.
To big rivals like Lazard Freres & Co., the mid-level bank executives were just "two guys from Denver operating from the trunk of their car," Mr. Alexander, chairman and president of Alps, recalls with relish.
A Pair of Fund Families
Alps has moved up in the world since those days. Today, it brings in $3 million a year by providing servicing and marketing support to mutual funds managed by banks.
Alps serves only two bank mutual fund families: the ...