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Rating:Ivy Funds Reorgs its Sales Team Not Rated 5.0 Email Routing List Email & Route  Print Print
Wednesday, August 12, 2009

Ivy Funds Reorgs its Sales Team

Reported by Armie Margaret Lee

Ivy Funds Distributor last week made changes in the structure of its wholesaling team.

Thomas Butch
Ivy Funds Distributor
President and CEO
Anthony Carrubba, who was in charge of wholesalers in the RIA and retirement channels, has taken on the role of head of product, according to an internal memo obtained by The MFWire. He reports to Tom Butch, president and CEO of Ivy Funds Distributor.

Those RIA and retirement wholesaling team have been merged into three regional sales divisions. Ivy promoted Chad Brand to divisional manager for the Western division, a post that had been vacant since December 2008.

The other divisional managers are Jeff Place (South/Central) and Dave Freeman (Northeast).

"The wholesalers will continue to pursue their existing channels and geographies, but will do so within the regional division structure," Butch said in the memo dated August 5.

That's the structure that wholesalers in the broker-dealer and wirehouse channels have been operating under.

"We believe all of these changes -- which were accomplished without net headcount expansion -- add critical leadership in key areas, optimize our organizational structure and support our ambitious growth objectives for Ivy," Butch said. 

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