has added a bank specialist into the ranks of its relationship management team. Rick Burrows
joined GE's Wealth & Income Management division as a vice president, Distribution Development in December from Cal Fed Bank
. He will cover banks in the Western U.S. and reports to Ron Felmus
, senior vice president and director of Strategic Accounts.
The move marks the first time that GE's Wealth & Income Management division has dedicated a relationship manager to the bank channel. Until now, relationship managers in the wirehouse and regional broker-dealer distribution channel had covered banks, explained a spokesperson. The division also has channel specialists dedicated to the independent RIA channel for both the eastern and western regions.
"There are no immediate plans to hire additional bank reps, but if it works out with Rick we may bring on more reps dedicated to banks in the future," added the spokesperson.
Burrows is charged with building the visibility of all of GE's financial products, including mutual funds, variable annuities and life insurance products in the bank channel in the western region.
"He will be leveraging the expertise of Maureen Nielsen
, product leader for GE Wealth & Income Management," said the spokesperson. Nielson's purview includes the GE Funds family and she is based in Richmond, Virginia.
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