Zurich Scudder Investments is planning its retail mutual fund business to Chicago from Boston, a spokesperson with the firm told the MutualFundWire.com. The move will take place by the end of the calendar year.

"This is a move of our headquarters," the spokesperson reported, "which includes sales, marketing, and portfolio management. The old Kemper offices are there, and they have a strong intermediary business in Chicago."

Other business units such as those for high-net-worth clients and retirement plans will continue to be based in Boston. The office in Salem, New Hampshire will remain unaffected by the change.

"At this point, though, we don't know many details," the spokesperson continued. "A lot of that is because of our sale to Deutsche Bank. When that process is complete, we should know more."

The shift could also be representative of an increased focused on the intermediary channel instead of a purely retail one. 

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