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Rating:Delaware Seeks Bank Biz Not Rated 3.0 Email Routing List Email & Route  Print Print
Monday, July 17, 2000

Delaware Seeks Bank Biz

Reported by Sean Hanna, Editor in Chief

Delaware Investments is beefing up its team to sell sub-advisory services through its institutional arm. As part of the effort the firm promoted SooHee Lee to vice president, sub-advisory services. Her responsibilities in the newly created position include building and managing client relationships in the institutional area.

Delaware is in the process of expanding its subadvisory business, a spokesperson told the MutualFundWire.com. Lee's promotion is a part of this expansion. She will report to Frank Staves, managing director of Delaware's sub-advisory services unit.

"We are expanding that business fairly rapidly," said the spokesperson. "We see that there is an opportunity to present our products to the marketplace and an opportunity to get her in on the business and get her involved."

Lee will work to expand the firm's sub-advisory sales division of institutional marketing unit. She is now responsible for increasing sales of Delaware's sub-advised variable annuity and mutual fund products and will work with clients' sales forces to communicate the funds' investment performance, philosophies and processes, according to the company.

Lee had been vice president and product manager in Delaware's Retail Investor Services unit, the retail mutual fund division, with responsibility for Delaware's fixed income and international retail funds. There she developed strategic positioning of the funds, identified emerging trends and developed new fixed income and international products.

"SooHee's extensive knowledge of the variable annuity and mutual fund business makes her an excellent person to manage the relationships within our sub-advisory services area," said Staves. "I'm excited to have such talent on board and I know she will do an excellent job."

Lee joined Delaware in 1996 from Putnam Investments where she was involved in the firm's bank channel mutual fund and variable annuity sales in Washington and Oregon. Prior to that she was a product manager and associate market research analyst.

Meanwhile, Delaware has also tapped Jim O'Brien, vice president, key accounts manager of the wire regional division of its distribution arm on the retail side of its business. O'Brien is filling an existing person although the spokesperson was unable to say who he was replacing.

O'Brien is responsible for managing relationships with key accounts within brokerage houses nationwide, according to the firm. He has more than 20 years of experience as an executive in sales, marketing and general management and prior to coming to Delaware, he was the general manager/partner at Unique Technologies, Inc. (Reading, PA). Before Unique, O'Brien was an independent consultant to Boston-based Pioneer Investment Management, where he coordinated the firm's strategic initiative around account management and wholesaler development.

"Jim's experience and expertise with management and his skill with developing accounts fits into our initiative to strengthen our key accounts management," said Steve Long, senior vice president and director, wirehouse regional division.  

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