just hired Mark Bentley
from Rydex SGI
to head its retail distribution team, the Boston-based asset manager revealed Monday.
Bentley joined Rydex in March 1996, only two years after its founding, and he was one of the first 20 employees. At Rydex SGI, Bentley was most recently managing director and national sales manager of the RIA channel.
A spokeswoman for Rydex told The MFWire
that the asset manager is on the prowl for Bentley's successor.
"Rydex/SGI remains very committed to the RIA space," the spokeswoman said in an emailed statement, "and is currently exploring candidates to assume Bentley's duties."
Bentley left Rydex's Boston office, where he has been based since 2001, on November 4, and he started working at Old Mutual on November 5, he told The MFWire
Bentley said he was drawn to Old Mutual because of "their focus on distribution, their innovation and product development and their diversification within their 18 affiliate companies."
Bentley's Old Mutual team will promote the company's mutual fund to RIAs, family wealth offices and bank trusts..
Old Mutual also promoted Brian Carroll
and Paul Williams
to run the institutional and non-U.S. distribution teams, respectively. All three will report to Matthew J. Appelstein
, executive vice president and head of sales and marketing.
Carroll previously worked as the director of sub-advisory services and managed the defined contribution investment-only team. Williams has led Old Mutual's European team, but the group will now spend more time focusing on Asia and the Middle East.
As head of the entire institutional distribution business, Carroll will still maintain his responsibilities as head of DC-IO and sub-advisory services, and he will also take on consultant relations.
And Old Mutual is not done hiring.
On the retail side, "we have probably two or three more positions we're in the process of filling as we speak," Appelstein said.
Company Press Release
BOSTON- November 9, 2009 -- Old Mutual Asset Management (OMAM), the U.S. asset management group of Old Mutual plc (LSE: OML), has expanded its distribution group and named Brian Carroll, Paul Williams and Mark Bentley as Heads of the Institutional, Non-US and Retail distribution teams, respectively. All three will report to Matthew J. Appelstein, Executive Vice President and Head of Sales and Marketing.
Mr. Carroll, the new Head of Institutional Distribution, previously was OMAM’s Director of Sub-advisory Services and also oversaw the Defined Contribution-Investment Only effort. Along with his current responsibilities, he will now also assume responsibility for the Consultant Relations initiative. He has 20 years of experience in the investment management industry; the last five of which have been with Old Mutual Asset Management.
Mr. Williams, the new Head of Non-US Distribution, has overseen Old Mutual Asset Management's European efforts for the past year. Going forward, his recently expanded team will focus on Europe and the Middle East. Mr. Williams possesses more than two decades of experience in the asset management industry, and previously was a director at Fidelity International, with responsibility for institutional business development within the UK.
Mr. Bentley joins Old Mutual Asset Management from Rydex SGI, where he was Managing Director and National Sales Manager of the RIA Channel. As a founding member of the firm, he played an integral role in the expediential growth of the assets under management. Mr. Bentley and his team will focus on the professional buyer channels, which include Registered Investment Advisors (RIAs), Family Wealth Offices and Bank Trusts.
According to Tom Turpin, Chief Executive Officer, “By strengthening and broadening our distribution capabilities, we have positioned ourselves to introduce more client segments to our affiliates. These appointments will align with our strategy to continue to be a market-leading asset management firm that consistently delivers high quality and diverse investment solutions.”
Mr. Appelstein added, “At a time when some of our competitors have scaled back, this is an opportunity to further build our presence in key markets. These appointments will be instrumental in our aggressive push for more distribution in the U.S. and overseas.”
About Old Mutual Asset Management
Old Mutual Asset Management is the holding company for 18 distinct, boutique firms, including asset managers that specialize in high-quality, active investment strategies for institutional and individual investors. The group's parent is Old Mutual plc, an international financial services company based in London, with operations in asset management, life assurance, banking and general insurance. More information on Old Mutual Asset Management (US), its member firms and their investment teams and strategies, is available from the group's website at www.oldmutualus.com.
The Old Mutual Funds are offered by prospectus. Investors should consider the charges, risks, expenses and investment objectives carefully before investing and should read the prospectus carefully. It contains this and other important information. Investors may obtain a prospectus by calling 1-888-772-2888. Old Mutual Investment Partners, Member FINRA, Distributor.
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