Big Apple Opening for Marketer
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Friday, April 12, 2002

Big Apple Opening for Marketer

Reserve Funds is seeking a director of marketing as part of a push into the retail market. The no-load firm already has a strong brand in the institutional and subadvisory market, Eric Lansky, director of sales, told the The next step is to leverage that brand with retail investors.

The New York-based fund firm was the originator of the money market fund, and that niche remains its bread-and-butter business. It also has created a lineup of sub-advised equity funds.

Lansky handled the firm's marketing in the past, but took the sales title two weeks ago.

The firm has roughly doubled its asset base to $15.5 billion in the past twelve months, Lansky said. Much of that growth has been driven by the low yield environment which is pushing other firms to outsource their money fund management.

As the yields of funds falls, the relative cost differences at fund shops become more dramatic for investors. As one of the larger money fund managers, Reserve brings efficiencies to the table that their clients cannot.

Lanksy declined to name recent wins in that area, but pointed to Ameritrade and HR Block as examples of the firms to which it provides these services.

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