Financial Research Corporation
hired former FundQuest
executive James Graves
as senior vice president of research management.
Graves is taking over part of the duties held by Larry Petrone
, who, as reported
by The MFWire.com
last Friday, is leaving FRC at the end of next month.
"We're breaking up Larry's role into two," said FRC chairman Bob Hedges
in an interview with The MFWire.com
Graves will manage the subscription publications
and the delivery of syndicated research, explained Hedges, who is also managing partner at Mercatus Partners
. Mercatus bought FRC in 2008.
Graves was managing director for marketing at FundQuest, a unit of BNP Paribas. In that role, he was responsible for marketing and client communications regarding mutual funds, managed accounts, and annuity products for RIA, bank, insurance, and broker-dealer firms.
As for the second component of Petrone's job, the subject matter experts that have been reporting to Petrone will report to Hedges.
There will be a total of four directors of research, Hedges said.
FRC will be filling such roles focusing on retirement, investment products and advisor distribution.
"We're recasting the organization," he said.
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