Maillet Goes to Nuveen

Jeffrey Maillet joined John Nuveen Co. last month to launch two new funds that will invest in bank loans and some market observers said the company is hoping he can re-build the success he has enjoyed in the past.

The Securities and Exchange Commission, as of press time, is still reviewing the funds and as such, company officials would not comment.

But outside sources familiar with the company said the prime rate and senior floating rate funds definitely are in the works and are expected to be rolled out as early as this week.

Maillet built his reputation in a similar post at Van Kampen, the money management unit of Morgan Stanley Dean Witter, where he oversaw about $13 billion in total assets in three different funds.

Chicago-based John Nuveen manages about $70 million in assets in a litany of funds and accounts.