Pioneer Investment Management is restructuring its distribution efforts, Dan Geraci, president and ceo at the firm, told the MutualFundWire.com. Pioneer's distribution marketing company will be divided into two units: distribution and strategic marketing.

As the firm reorganizes, it is bringing onboard two executives from Fidelity. Bill O'Grady, who recently managed a multi-channel distribution organization at Fido, will serve as executive vice president for the distribution unit. He joins Pioneer on March 11.

Also making the leap from the Boston Behemoth is Richard Sardelli. He will hold the title of senior vice president and director of marketing communications. He is currently Richard senior vice president of marketing communications for Fidelity Investments Institutional Services. He also joins Pioneer on March 11.

Sardelli will report to Steven Graziano, who will serve as executive vice president of strategic marketing. Graziano will be in charge of product management and development for the institutional and retirement businesses. He will also oversee new business development and marketing.

On the reason for two distinct units, Geraci reported, "We wanted to create a much greater focus for strategic marketing and distribution. Although they are very interdependent, they are also distinctive. This decision was taken not for separation but for synergy."

"We have initiated a three-year business plan that is very ambitious but very achievable. This reorganization gives us the highest level of certainty in achieving those goals," Geraci continued.

"We are seeking out more marketshare and more mental shelf space," the executive continued. "We had a very good 2001. And we want to go even further. We are looking to broaden the base of our retirement offerings. We also want to double our assets by the end of 2004, and want to double the number of advisors who work with us by the end of 2004 as well." Geraci noted that Pioneer currently works with 37,000 independent financial advisors, and he is looking to bring that number up to 75,000.

"You don't want to overpromise and underperform," he added. "The first part in reaching our capacity is the reorganization. That is what is happening on the distribution side. We now have a pure sales environment in the firm. Everyone is focused on one thing. Now, we can have a rapid acceleration of our growth. We plan to be adding many future clients, and we now have a team that is bringing a specialized skill set to the table."

Geraci believes that Pioneer's opportunities are heating up, and he wants to take advantage of them. He describes the firm as a 74-year-old start-up which now has the opportunity to get its name and story out there.

To this end, Pioneer is preparing to enter both the separate account business and the 529 plan business. With regard to the separate account business, Geraci stated, "We would be looking to get on a platform in a wirehouse. We are deciding right now which disciplines to make available to the managed account marketplace. And we want to see what disciplines advisors might be interested in. We need to determine which ones would make the most sense. 

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