Delaware Investments has hired Thomas McConnell from Alliance Capital Management as senior vice president of its 529 college savings plan group reporting to Rene Campis, executive vice president.

The position was newly created to strengthen the firm's presence in the growing 529 area, a company spokesperson said. As for additional hires in the department, specific decisions have not been made at this time, but the business is growing, he added.

McConnell was vice president, director of 529 product management at Alliance Capital and was behind its launch of Rhode Island's CollegeBoundfund 529 savings program, which has since emerged as the leading 529 plan in the nation in terms of assets under management. Prior to Alliance, McConnell was project manager of tuition financing at TIAA-CREF, where he founded their Section 529 business.

At New York-based Alliance, Jennifer Delong, formerly co-director with McConnell, will be assuming his responsibilities and oversee two product managers.

As of June 30, 2002, Delaware Investments, which serves both individual and institutional clients, had approximately $83.8 billion in assets under management. The firm recently launched Pennsylvania's TAP 529 plan and a few months ago, Hawaii's Tuition Edge program.  

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