Neuberger Berman's [profile] former third-party distribution chief has landed. Today New York-absed Gold Bullion International revealed the addition of Andy Provencher as head of business development.

At Neuberger Provencher oversaw its separately managed account business, then took over third party distribution in 2008. He left the mutual fund firm in April [see MFWire.com, 6/13/2011].

GBI claims to be "the leading institutional precious metals provider to individual investors and the wealth management industry." CEO Savneet Singh praised Provencher's "track record, knowledge of the client community, and of precious metals."

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Company Press Release

NEW YORK, Dec. 8, 2011 -- Andy Provencher, a veteran of Neuberger Berman, has been named Head of Business Development for Gold Bullion International (GBI), the leading institutional precious metals provider to individual investors and the wealth management industry.

Provencher will lead the effort to expand GBI's presence across all major intermediary distribution platforms, including Wealth Management, RIA, Private Bank, Insurance and Retirement. He will also be responsible for the identification and development of additional opportunities globally.

Provencher comes to GBI after a long, successful tenure building Neuberger Berman's third party distribution organization.

While at Neuberger Berman, Provencher oversaw the creation and growth of Neuberger's Separately Managed Account business, which became the 6th largest in the industry.

In 2008, Provencher was promoted to Head of Third Party Distribution and added to the firm's Operating Committee. Also that year, Provencher's team was awarded Money Management Institute's "Marketing Campaign of the Year" for its work with clients during the Lehman Brothers bankruptcy.

Provencher spearheaded Neuberger's recent plan to add new funds and share classes to the firm's mutual fund lineup to better serve financial advisors. In 2011, MMI again honored Provencher's team, naming Neuberger as "Manager of the Year," an award voted on exclusively by clients.

"Andy's track record, knowledge of the client community, and of precious metals makes him the ideal leader to add to our team," said Savneet Singh, Gold Bullion International's CEO. "GBI prides itself on attracting the best talent in the industry and Andy will be a tremendous addition."

"I've been following GBI's progress since its launch," added Provencher. "Its growth has been dramatic. Transparency is vital in client relationships today and the transparency GBI offers its customers will be an industry standard. I am excited to be part of GBI's future." 

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