American Century Investments [see profile]
made a big splash last week
when it hired former Fidelity executive Peter Cieszko
for a newly created role as head of intermediary and institutional sales in North America. The Kansas City, Missouri-based mutual fund firm is looking to eventually grow its sales force, InvestmentNews reports
Cieszko, who will be based in New York, will start his new job on
August 1 and lead a team of 187 salespeople. Cieszko's boss, head of global client relationships Michael Green, told InvestmentNews that American Century is looking to eventually expand the North America sales force.
He did not give specifics on how many salespeople the company plans to add or on the timing of the expansion.
Intermediaries account for less than 30 percent of American Century's
total AUM, according to the report. American Century wants to deepen
its ties with advisors, Green said.
Meanwhile, Green said the company is mulling over the possibility
of including more alternatives and international-equity offerings in its
product menu. Those areas have attracted interest from advisors.
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