Forward Funds has landed a new managing director to manage its sales and client services teams. The San Francisco fund firm hired Clay Smudsky to fill the position that opened when Richard Duff joined BlackRock's Private Client Group last October. Smudsky was most recently at RS Investments which is also located in the San Francisco Bay Area.

At RS Investments, Smudsky was as vice president of Institutional Sales covering the sub-advisory, retirement plan and consultant-driven businesses at the firm. RS Investments has an on going search for his replacement, said partner at the management firm. He added that Smudsky left "on good terms."

Before joining RS Investments, he was a divisional sales manager for Salomon Brothers Asset Management where he worked on the firm's managed account business and assisted an effort to distribute mutual funds through the broker-dealer community.

J. Alan Reid, President of Forward Management, said that Smudsky's experience in the financial advisor and institutional channels were important considerations in his hiring. 

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