Hartford investment adviser Virtus Inc. said Hugh M. S. McKee has been elected to fill one of the two board positions held by representatives of the Bank of Montreal, a Virtus investor.
McKee is co-president and chief operating officer of BMO Investments Inc., an affiliate of the Canadian bank’s BMO Financial unit, which indirectly owns a 23 percent equity stake in Virtus.
McKee replaces Barry M. Cooper on Virtus’ board. Cooper recently resigned as a director to avoid conflicts of interest in his role with BMO entities that deal directly with Virtus.
Virtus withheld introducing McKee the same day as Cooper’s resignation until McKee’s appointment was approved by the board of BMO Investments.
Virtus was spun off from The Phoenix Cos. in Hartford in late 2008.
