Firms Focus on Upgrades

Fund sales have revved, but don't expect a flood of new jobs to hit the industry, says executive recruiter George Wilbanks of Wilbanks Partners.

Wilbanks said that the firms have been emboldened, somewhat, by growing market valuations and are willing, albeit cautiously, to invest in asset-gatherers.

However, the hiring he has seen this year is very deliberative, very focused on a few particular specialties, such as CFA-credentialed institutional wonks, and experts in solutions or liability-driven investments. And often, Wilbanks said, instead of simply beefing up their sales teams, firms are trading up their sales talent.

"In some cases, it is not even net new hiring. These are sort of upgrade hirings. These are transition hires as they reposition their distribution efforts, adding skills, upgrading skills," he said.

Fund executives are focusing their hiring to a few specific skills because they believe they need to kick up the sophistication of their sales teams.

"Simply saying 'Here's my stylebox. Here are my returns. Put us in your allocation,' doesn't get you through the door anymore," he said.

This Week's Fund Sales Positions

EXTERNAL POSITIONS
Managing Director, East Coast Consultant Relations
Janus has an opening for this position in Denver, Colo.
Regional Vice President
Touchstone has an opening for this position in Chicago
Broker Dealer Field Sales Executive
Vanguard has an opening for this position in Cincinnati
External Wholesaler to Independent B-Ds
Prudential has an opening for this position in Ohio
INTERNAL POSITIONS
Internal Wholesaler
MetLife has an opening for this position in Charlotte, NC.
Protective Life has an opening for this position in San Francisco
Capital Group has an opening for this position in San Antonio, Texas
RIA Int'l Sales & Mrktng Rep
BNY Mellon has an opening for this position in New York
BNY Mellon has an opening for this position in Boston
Hybrid Internal Sales Desk Manager
ProShares has an opening for this position in Washington, D.C.
Sales Relationship Manager
BlackRock has an opening for this position in San Francisco
Internal Sales Desk Manager
JP Morgan has an opening for this position in New York
STRATEGY
VP Strategy & Business Development
BNY Mellon has an opening for this position in New York
 

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