Saturna Appoints New President and New Head of Brokerage Services
Bellingham, WA (July 30, 2009) — Saturna Capital Corporation, investment manager of the no-load Amana and Sextant Funds, has announced that Jane Carten has been appointed President and CEO. This position was previously held by Nicholas Kaiser, who continues to serve as the Chairman and Chief Investment Officer of Saturna, while also continuing as portfolio manager for the Amana and Sextant Funds. The firm also announced the promotion of Monem Salam to Chairman and President of Saturna Brokerage Services, a subsidiary of Saturna Capital Corporation.
Ms. Carten takes over as Saturna's President and CEO after serving as the company's Executive Vice President, where she oversaw the company's day-to-day operations in its Bellingham, WA, headquarters and supervised customer service, administration, marketing, and technology functions.
"I am pleased to announce Jane's appointment as President and CEO of Saturna," said Mr. Kaiser. "She has ably served in a variety of roles of increasing responsibility over the years. I am confident her experience and intimate knowledge of the company makes her the right person for these roles as I continue to focus on my duties as Chairman, CIO and running the portfolios of the Amana and Sextant Funds," he added.
Ms. Carten has worked at Saturna since 1997. Prior to her previous role as Executive VP, she served as Chief In-Forming Officer, where she oversaw Saturna's marketing operations. She also supervised technology activities and managed the company's proprietary operations system, Neptune. Ms. Carten holds an MBA degree and a Bachelor's degree in Computer Science and Business from Western Washington University.
Mr. Salam's appointment as Chairman and President of Saturna Brokerage Services recognizes his continued exemplary work as Saturna's Director and Vice President of Islamic investing, as well as deputy portfolio manager to the Amana Funds.
"Monem has been key to our success in helping the Amana Funds become the largest family of mutual funds designed for US based Islamic investors," said Mr. Kaiser. "His vast abilities in marketing and portfolio management, coupled with his deep understanding of the needs of the Islamic market have made him an essential part of Saturna's team. His experience managing private accounts makes him the logical choice to head our growing brokerage services," he continued.
Mr. Salam received his degrees from the University of Texas: BA (Austin) and MBA (Dallas). He worked as Chief Investment Officer for ITG & Associates (Dallas) until 1999, then as a representative with Morgan Stanley (suburban Dallas) until joining Saturna Capital in June 2003. Mr. Salam speaks at Islamic finance/investment conferences worldwide, and in U.S. Islamic communities about spirituality, Sharia, and Islamic investing.
About Saturna Capital
Saturna Capital Corporation, established in 1989 in Bellingham, WA, is the investment adviser and administrator to over $2 billion in assets in the Amana Mutual Funds Trust (which includes Amana Growth Fund and Amana Income Fund) and the Saturna Investment Trust. Saturna Investment Trust consists of six funds: Sextant Growth (domestic equities), Sextant International, (foreign stocks), Sextant Core (bonds and equities), Sextant Bond Income (long-term bonds), Sextant Short-Term Bond, and the Idaho Tax-Exempt Fund. Saturna Capital also manages private accounts for families, businesses and endowments. Saturna Brokerage Services provides general discount brokerage services and underwrites the Saturna mutual funds.