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Rating:Korean Firm Continues U.S. Sales Expansion Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 31, 2013

Korean Firm Continues U.S. Sales Expansion

Reported by Tommy Fernandez

Mirae Asset U.S.[profile] is hard at work building its sales team, again.

The firm, which is the $4.5 billion American asset arm of the $54 billion Korean Mirae Asset Global Investments, has hired  John Whitaker, to serve as emerging market specialist, working as a wholesaler covering Ohio and Michigan. Whitaker was previously as The Bank of New York Mellon Asset Management/Dreyfus.

John Capeci was also promoted to Head of National Accounts. He was previously senior vice president, strategic relationship manager.

Both Capeci and Whitaker will report to Robert Mulligan, head of sales and distribution.

The hires bring Mirae's wholesaling team to five and expands the firm's client coverage to the Mid-West for the first time.

They are just the latest sales staffing moves made by Mirae since the March appointment of senior American management. For example, the firm hired three sales executives in April.

Mirae Asset USA's mutual fund products consist of a suite of 5 funds under the Mirae Asset Discovery Funds banner.

Here is the press release:
Company Press Release 

Emerging Markets Investment Manager Mirae Asset Global Investments Moves to Further Enhance Sales and Distribution Team

John M. Capeci Appointed Head of National Accounts and John D. Whitaker Named Regional Wholesaler

    New York, NY (July 30, 2013) – Mirae Asset Global Investments (USA) LLC (“Mirae Asset USA”), one of the world’s largest investors in emerging markets, today announced that an additional professional has joined the firm’s sales team.  John Whitaker has been appointed Regional Vice President, Emerging Market Specialist, and will cover wholesaling efforts in Ohio and Michigan.  The addition of Whitaker will bring Mirae Asset USA’s wholesaling team to five, as well as expand its active client coverage beyond the Eastern seaboard into the Midwestern region. 

  In addition, John Capeci, has been elevated to Head of National Accounts.  He was formerly Senior Vice President, Strategic Relationship Manager, for the firm.  As Head of National Accounts, Capeci will further drive the firm’s relationships with national and regional broker-dealers, banks, independent financial advisors, and “supermarket” platforms in distributing Mirae Asset’s retail offerings.  Capeci and Whitaker both report to Robert P. Mulligan, Head of Sales and Distribution.

  “Our expansion into the Midwest region is a major step in reaching a previously under-penetrated investor base for Mirae Asset, so we’re delighted that a financial services veteran like John Whitaker has joined us to spearhead this effort,” said Mulligan.  “With John Capeci’s track record in driving strategic partnership development with distribution and custodial platforms across the U.S., we are well-positioned to gear up for our funds’ three-year anniversary and to respond to investor interest across the country.”

  Whitaker brings his wealth of diversified financial services experience to Mirae Asset USA from The Bank of New York Mellon Asset Management/Dreyfus, where he served as Senior Regional Consultant, Mutual Fund Sales, based in New York.  Prior to that, he was a Financial Advisor at UBS PaineWebber, then a Business Banker at Key Bank, both in Cleveland, OH.

  Mirae Asset USA manages over $4.5 billion in equity and fixed income assets.  Its mutual fund product line-up consists of a suite of six funds under the Mirae Asset Discovery Funds banner and were the firm’s first registered products offered to U.S investors.  The firm’s original series of emerging market equity funds was launched in September 2010 and, in early 2012, were followed by a global equity fund and a global bond fund.  The mutual funds are now available at most major wirehouse firms and independent broker dealers.  Mirae Asset Global Investments Co. Ltd., the parent company, manages $54 billion globally.

  About Mirae Asset Global Investments

Mirae Asset Global Investments is one of the world’s largest investment managers in emerging market equities (Investments & Pensions Europe, January 2013).  With approximately 550 employees, including 137 dedicated investment professionals, Mirae Asset offers a breadth of emerging markets expertise.  Mirae Asset’s offices are located in Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, the U.K., the United States and Vietnam.  The firm manages $54 billion in assets globally through a diversified platform to offer market-leading franchises in traditional equity and fixed income products, ETFs and alternative strategies, such as real estate, private equity and hedge funds.  Mirae Asset Global Investments (USA) is focused on providing equity and fixed income investment advisory services to mutual funds, foreign investment trusts, and institutions.  (www.miraeasset.com)

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