Federated Investors is looking for a new leader for its institutional sales division, The MFWire has learned. The job opened after James Heaton, who had been in that role, moved to Federated subsidiary MDT Advisers to take the position of senior portfolio strategist.

"We are actively conducting a search [for Heaton's replacement]," Federated spokesperson Ed Costello told The MFWire.

Federated hopes to fill the post within the next month and a half, Costello added.

Heaton's appointment at Cambridge, Massachusetts-based MDT Advisers, a quant manager acquired by Federated in July of last year, was announced Tuesday, along with the promotion of MDT Advisers senior portfolio strategist Edward Foss to the newly created post of chief operating officer.

At Federated, Heaton was in charge of the Pittsburgh-based firm's investment-only defined contribution sales. He was also responsible for building the company's relationships with pension funds, foundations and endowments, and oversaw the firm's subadvisory business.  

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