Federated Investors [see profile]
is growing its sales force in an effort to call on more regional broker-dealers. The Pittsburgh-based mutual fund firm has appointed a pair of regional sales managers and plans to add nine external wholesalers, five internals and four administrative staff, said Tom Territ
, president of Federated Securities Corp.
"I hope to have a good mix of internal and external candidates," Territ said in an interview.
Federated will kick off the search for the wholesaler and admin posts in the next two weeks.
The two newly appointed regional sales managers are Erik Zettelmayer
and Matthew Khan
and Peter Eisenbrandt
continue to run the b-d sales channel as national sales managers.
Territ traced the sales force expansion to a trio of factors: "solid investment performance, sales success and our recommitment to advertising, marketing and the Web site."
Currently, Federated's salespeople in the b-d channel spend about 75 percent of their time calling on wirehouses. The new additions to the sales force will concentrate on the regional players.
At present, the b-d channel has 45 external wholesalers and the same number of internals.
Federated's other channels include wealth management, which focuses on private banks and RIAs and institutional, which calls on plan sponsors. The firm also has an SMA team.
The wealth management group has 32 externals, the institutional team has 24 and the SMA team has 10.
Federated's sales organization has a total of 61 internal wholesalers.
Stay ahead of the news ... Sign up for our email alerts now