The Reserve has hired John Drahzal as managing director, global head of sales. He reports to Bruce Bent II, vice chairman and president of the New York City fund firm.

A Reserve spokeswoman told The MFWire that Drahzal's post is newly created.

Previously, Drahzal was director of distribution at Prudential’s JennisonDryden funds, a position he left in November of 2007. A spokeswoman for the company said he was replaced that same month by Stuart Parker, a JennisonDryden distribution vet.

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Company Press Release New York, New York, August 19, 2008 - The Reserve announced today the appointment of John N. Drahzal as Managing Director, Global Head of Sales, reporting to Bruce Bent II, Vice-Chairman and President of The Reserve. With a 20-year track record of leading national sales teams, Mr. Drahzal is a thought leader in the institutional, brokerage and banking industries who plans to lead The Reserve sales force to even greater levels of success. Mr. Drahzal will focus on building and strengthening strategic relationships, increasing The Reserve’s sales team scope and reach, and enhancing the overall client experience. The announcement was made today by Mr. Bent II.

“We’re delighted to have John on board,” said Mr. Bent II. “John possesses an entrepreneurial spirit and clarity of purpose that will take The Reserve to our next level of success. We value his ability to provide insight into businesses, capitalize on market opportunities and motivate his team members.”

Mr. Drahzal brings to The Reserve his expertise in financial products and services, relationship management and sales and marketing of innovative products. Sharing The Reserve’s core values of being genuinely close, passionately inquisitive, expertly qualified and visionary, Mr. Drahzal believes that as a global liquidity management leader, The Reserve is on course to greater future success. His inside-out business approach is his intellectual curiosity at work. Mr. Drahzal builds productive, lasting client partnerships by first thoroughly understanding a client’s business strategy and operations and then providing strategic advice and solutions that best fits those needs.

“This is a wonderful opportunity to work at an industry-defining firm that has such a strong lineup of products and services. The Reserve is successful because they understand their clients’ business needs and have become valued advisors and partners. I also share this belief, and I look to form new strategic relationships across all our business lines,” said Mr. Drahzal.

Mr. Drahzal began his career in 1988 with Victory Asset Management where he helped launch the Victory Funds. While at Victory he worked in numerous capacities from portfolio manager and equity analyst to mutual fund national sales manager and institutional sales manager. At Promontory Interfinancial Network as Chief Marketing Officer, he managed marketing distribution, recruitment of the sales force and banking relationship management. Prior to joining The Reserve, Mr. Drahzal was Director of Distribution at Prudential’s JennisonDryden funds where he ran the distribution efforts for mutual funds and separately managed accounts.

About The Reserve
Founded in 1970, The Reserve is The World’s Most Experienced Money Fund ManagerSM, serving the brokerage, banking and institutional marketplace. In addition to launching the world’s first money market fund, The Reserve has developed a full suite of innovative cash management solutions, including the industry’s first FDIC-insured money market sweep program, diverse money market fund offerings, unique bank cash sweep services and cutting-edge cash plus products. Today, The Reserve manages more than $125 billion for individuals, banks and institutional clients. For more information visit www.TheR.com or call 800-637-1700.

There is no other company in the world that has managed money market funds longer than The Reserve, the largest investment manager dedicated entirely to cash and money fund management. Since creating the money fund industry in 1971, Bruce R. Bent, The Reserve’s Founder and Chairman, has actively participated in the management of the company and regularly educates the markets on money funds and his original tenets of safety of principal, daily liquidity and a reasonable rate of return.

An investment in the funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the funds seek to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the funds. Money market yields may vary.

“The Reserve”, its related logo, “A Tradition of Financial Innovation” and “The World’s Most Experienced Money Fund Manager” are service marks or registered service marks of Reserve Management Corporation in the United States and other countries.

 

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