Another refugee from Montgomery Funds has landed a new position in the industry. James Klescewski has joined Fremont Investment Advisors as senior vice president and chief financial officer. He will oversee the accounting group, including the mutual funds operations, facilities and information technology departments at the San Francisco-based firm.

Klescewski joins Fremont at a time when that firm is seeking to find a buyer for its group of 13 no-load funds group. Those funds hold roughly $5.5 billion in assets and have been on the market since the start of this year. The funds were put on sale after the Fremont Group decided to exit the retail fund business.

At that time the firm said it was shopping its funds it also promoted Fremont Group CFO Deborah Duncan as chair of Fremont Investment Advisors. Klescewski's predessor was Jack Gee, who left the firm before the end of 2002. He reports to Doug Taylor, CEO of Fremont Investment Advisors.

The purchase of Montgomery by Wells Fargo and the subsequent sale of the mutual funds to Nationwide's Gartmore unit has left a number of ex-Montgomery executives seeking new homes in the industry. Klescewski, who had been managing director, chief financial officer and a member of the Executive Committee at Montgomery Asset Management is only the most recent to land new responsibilities.

William Santos, who had headed marketing and alternative products at Montgomery Funds, followed the assets to Gartmore in January. Meanwhile, Heidi Ridley, who headed distribution for the funds, stayed in the Bay Area and took a position with Axa Rosenberg in February. Ridley is director of fund distribution at Axa. 

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