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Rating:American Century Eyes a Sales Force Expansion Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, June 06, 2011

American Century Eyes a Sales Force Expansion

by: Armie Margaret Lee

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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