is putting more muscle behind its sales effort on its start-up services for funds. To spearhead the push the unit of PNC Financial Services Group has tapped Albert J. Marazza
as vice president, sales of PFPC's fund start-up services.
The start-up services offers asset managers the option of establishing and operating a fund within the RBB Fund Family. PFPC created the fund group to help its clients efficiently start and operate a new fund. Within RBB, many fixed expenses, including insurance, director, legal and audit fees, are shared with other investment advisers' mutual funds, according to PFPC officials. PFPC also handles the accounting, administration, transfer agency and custodial services for the fund. Finally, PFPC provides the option to create a fund as a stand-alone legal entity.
In short, the product is designed a turn-key solution for new funds.
Marazza was most recently a hedge fund analyst for Berens Capital Management. Prior to that he was a founding partner of long/short hedge funds for QED Capital Management. He reports to Fred W. Jacobs
, senior vice president, business development.
"Albert Marazza brings enthusiasm and a keen understanding of the mutual fund industry to PFPC," Jacobs said. "He will join a specialized and talented team to provide comprehensive sales support designed to meet our clients' diverse needs."
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