San Francisco-based Webster Investment Management -- sponsor of the Forward Funds -- continues to make changes to kick start its business. The firm has hired a new head of marketing to replace an executive who departed to cross-Bay rival Firsthand Funds. It has also changed its name to Forward Management to promote consistency with its funds.

The firm does not manage assets. Rather it focus on marketing and distribution and outsources investment management to shops such as Schroder Investment Management, Valenzuela Capital Partners and Hoover Investment Management.

Forward snagged Craig Lamson last week to head marketing for the fund family. Lamson reports to Alan Reid, chief executive officer and himself a recent arrival. Reid had been a founder of the firm and returned after a stint at Morgan Stanley Dean Witter.

It is also marketing wrap products include management by those firms to the broker-dealer market. "We select high quality asset management companies that need support distributing their investment products," Reid said. "By leveraging a common brand across our institutional and retail business units, we will increase our value to these managers and our clients."

Expect the firm to continue to add to its sales team as its next step in its build out plan. The firm said in May that it is interviewing for wholesalers.

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Forward Taps Montgomery Securities, 05-29-2001

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