Waddell & Reed Financial Inc. has named
Thomas Butch chief marketing officer. In the newly created position he will be responsible for marketing and distribution strategy, product development and all core marketing and communications activities.
Previously, Butch, 42, was president of
Stein Roe Mutual Funds, located in Chicago. He will be reporting directly to
Keith Tucker, chairman and CEO of Waddell & Reed.
"His appointment underscores our commitment to ensuring the continued growth of our organization. We are confident he will make major contributions as a key member of our executive management team," Tucker said.
Tyler Towery, a spokesperson for Waddell & Reed said that the company currently distributes funds only through an in-house sales force, managed by Robert Williams, executive vice president and national sales manager.
The company hopes that Butch will find ways to penetrate the market and find distribution alternatives and strategies. Towery said the company has no intention for the present to join any fund supermarkets or other large mutual fund distribution channels.
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