Jim Tambone just expanded Fred Alger's [profile] distribution team, and he has two more openings to fill. In the process, he also added a new layer of management on the advisor-sold side of his sales force.

Previously, Tambone says, Alger's external wholesalers reported directly to Liz Clapp-Carey, senior vice president and head of retail sales. Yet Tambone just created two divisional sales manager roles. He promoted Alger veteran Dennis Hearns to divisional sales manager in the east, overseeing a team of eight wholesalers, and he hired Matt Goldberg as senior vice president and divisional sales manager in the west, overseeing a team of six wholesalers. Hearns and Goldberg, in turn, report to Clapp-Carey. Goldberg joined Alger on July 27.

Tambone also added a second senior vice president of institutional sales and service, John Carbone. Carbone will work alongside Ted Doyle, who has a similar title, and will report directly to Tambone, executive vice president and chief distribution officer at Alger. Carbone joined Alger on August 3.

Goldberg most recently served as divisional vice president on the West Coast for Columbia Threadneedle Investments. MFWire has learned that the Columbia folks are currently searching for a successor to Goldberg.

A spokesman for Columbia declined to comment for this story.

Carbone most recently served as vice president of institutional investments at BNY Mellon Investment Management. A spokesman for BNY Mellon was not immediately able to comment for this story.

Looking ahead, Tambone plans to add a seventh wholesaler spot in the west, under Goldberg. And he's also looking to add a vice president/senior marketing associate.

"We're just growing. We are on a record sales pace and are likely to have a record year of sales," Tambone tells MFWire, adding that the expansion and increasing complexity of Alger's product line also necessitates expanding his team.

Carbone, an alumnus of Providence College, worked at at Hewitt (now part of Aon), Mellon HR (now part of Xerox), and the Hartford before joining BNY Mellon two years ago.

Goldberg, an alumnus of Lehigh University, has spent the past 24 years at Columbia Threadneedle (and predecessor organizations). He rose to divisional vice president two years ago.

Hearns, an alumnus of Ohio Wesleyan, worked at Rydex and Columbia before joining Alger almost 10 years ago. He most recently served as senior vice president and director of alternative distribution for Alger, focusing on retirement plan provider home offices (in the Northeast), family offices, and the large RIA market. Carbone will take over the retirement plan provider relationships in the Northeast, while Tom Morrison will continue to oversee Alger's relationships with retirement plan providers in the west. 

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