Pioneer Investments has hired Ray Dutcher as the director of U.S. Institutional Client Service. Previously Dutcher was senior vice president of client service at MFS Institutional Advisors. In addition, Michael De Feo has been named senior consultant relations manager, he was previously a vice president in Pioneer’s Strategic Alliances Group. The additions are part of an effort by Pioneer to developing the institutional side of its U.S. business.

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Ray Dutcher has joined Pioneer Investments as Director of U.S. Institutional Client Service, where he leads a team responsible for client reporting, RFP, and general client servicing matters. Ray brings 30 years of institutional relationship management experience to Pioneer.

Previously, he was senior vice president of client service at MFS Institutional Advisors, Inc. During his thirteen-year career at MFS, he also held senior positions in institutional sales and client relationship management. Earlier in his career, he held several high level sales positions at The Prudential Group Insurance Department, including director of group sales. He began his career with Chase Manhattan Bank in New York. Ray received a B.A. in economics from St. Lawrence University and a CLU designation from The American College. Ray joins a 20- member global client service team.

Michael De Feo has been named Senior Consultant Relations Manager and is responsible for promoting Pioneer’s institutional capabilities within the consultant community. Michael previously served as a vice president in Pioneer’s Strategic Alliances Group, where he was responsible for developing and managing relationships with major business partners of Pioneer Investments. Prior to joining Pioneer, he was vice president of new business development at BISYS Retirement Services. Earlier in his career, he directed institutional sales at Citizens Securities, Inc., Reserve Management Co., Inc. and Scudder Kemper Investments. He began his career at Neuberger Berman. Michael received a B.A. from Roanoke College. He joins a 7- member global consultant relations team.

Daniel K. Kingsbury, President and Chief Executive Officer of Pioneer Investment Management USA Inc., said, “Developing the institutional side of our business in the U.S. is a key priority, and these two appointments are valuable additions to our global team.”

Paul Price, Global Head of Institutional, added: “The U.S. is an important market and we are putting a strong team in place that will help us increase our presence. Pioneer Investments has a large global investment team, a proven investment process, and highly competitive products for the institutional marketplace. We recently secured several key mandates, including a sub- advised arrangement with Nomura Asset Management Company, Ltd. and we expect that our strengthened team in the U.S. will help us build on the momentum we have worldwide in the institutional market.”

Pioneer Investments had approximately $83 billion in institutional assets under management as of June 30 2007.

About Pioneer Investments

Pioneer Investments is the trade name for Pioneer Global Asset Management S.p.A. and its subsidiaries, a global investment firm with offices in 22 countries and approximately $313.0 billion in assets under management as of August 31, 2007, of which approximately $80.9 billion was managed in the U.S. Founded in 1928, our flagship mutual fund, Pioneer Fund, is the third-oldest mutual fund in the U.S. Pioneer Institutional Asset Management, Inc. is the institutional subsidiary of Pioneer Investment Management USA Inc. which is the North American operating subsidiary of Pioneer Global Asset Management S.p.A., a wholly-owned subsidiary of UniCredito Italiano S.p.A.  

Edited by: Erin Kello


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