WANTED: Sustainable Fund Manager Seeks New Sales Head
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Thursday, September 06, 2012

WANTED: Sustainable Fund Manager Seeks New Sales Head

The sustainable and ethical investment fund manager Pax World Management [profile] is looking for a new head of marketing and sales after the departure of senior vice president Keith Bernard.

Sources with knowledge of the situation have confirmed Bernard's departure and informed MFWire that Pax is looking for a replacement. In the meantime, the firm has promoted Edward Lynch to senior vice president of national sales.

Founded in 1971, Pax World caters to clients interested in socially and environmentally responsible investing. It markets a family of actively-managed funds called Pax World Funds, a series of multi-manager asset allocation funds with Morningstar Associates called ESG Managers Portfolios, and ESG Shares, a family of exchange-traded funds. It also offers separately managed accounts for institutional investors.

Joseph Keefe is president and chief executive officer. Keefe is a member of the Democratic National Committee, a former Democratic congressional candidate for New Hampshire and former chair of the New Hampshire Democratic Party. Christopher Brown is chief investment officer and Julie Gorte senior vice president of sustainable investing.

According to his Linkedin page, Bernard was at Pax since January 2008. On his page, he writes that he "designed, implemented and managed the strategic direction of the marketing and sales functions, personnel, agency relationships and $10 million budget for this $2.8 billion investment manager. Repositioned the firm from growth beyond the traditional socially responsible investing (SRI) market to target mainstream advisors, retirement plan sponsors and investors."

He also wrote that he had "built and managed a high-volume, integrated marketing operation to create brand awareness, support sales, generate leads and promote products. Expanded sales team, built required infrastructure, and added over 200 new selling agreements with major broker-dealers and retirement plan providers. Partnered with MSCI and Morningstar Associates to expand offering by adding exchange traded funds (ETFs) and multi-manager asset allocation funds. 2010 and 2011 sales were approximately $500 million annually."

Before Pax, Bernard was vice president, channel strategy for the tax-exempt market at Fidelity Investments and vice president, mutual fund programs, at Fidelity National Financial.

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