There's a change in the top ranks at Guggenheim Funds Distributors
. Head of U.S. retail Steve Baffico
has left the company and Chris Parisi
, national sales manager, has taken over his duties, Jeaneen Pisarra, a spokesperson for Guggenheim Funds' sister company Rydex|SGI, confirmed to The MFWire.com
It was not immediately clear whether Guggenheim Funds plans to name a new national sales manager.
, which first reported
on Baffico's resignation, reports that his departure comes "amid renewed rumors that the firm's parent, Guggenheim Partners LLC, is merging its former Claymore Group Inc. exchange-traded-fund business with its Rydex SGI business."
Asked about the reorganization rumors, Pisarra said: "Rydex|SGI and Guggenheim Funds continue to look for ways to work together. We can't comment on speculation or rumors."
Baffico declined to comment to The MFWire.com
on his departure. A Guggenheim spokesperson was not immediately able to provide comment. Parisi could not immediately be reached
what was then known as Claymore Securities in early 2010 as head of U.S. retail distribution. Claymore, which Guggenheim Partners acquired in late 2009, rebranded
to Guggenheim Funds Distributors
last fall. Before joining Claymore, Baffico worked at BlackRock
for 10 years.
Armie Margaret Lee
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