Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Armada Adding Crew Not Rated 3.0 Email Routing List Email & Route  Print Print
Tuesday, January 29, 2002

Armada Adding Crew

Reported by Sean Hanna, Editor in Chief

Armada Funds, the $18.6 billion fund unit of National City Bank, is making a push to expand its third party distribution. The effort comes as the unit has finished absorbing an acquired bank's fund group and taking over distribution from an external vendor. The push involves both adding to its wholesale team and enhancing its Web site.

"You need the right funds, products and performance," explained Kathleen Barr, managing director of Armada Funds, "We believe we have these things in place now."

Barr kept Armada's wholesaling powder dry while the rest of the effort was built because of the high cost wholesaling incurs and the need for those efforts to be properly timed. In 2000 the firm was kept busy rolling the Parkstone Funds into its own lineup. More recently it was focused on moving distribution internally from SEI Distributors and implementing a new Advent portfolio system for the fund managers.

The initial push has been on building the wholesaling team.

The firm recently tapped David Plotkin to head its wholesaling team that serves financial consultants. He is on the West Coast and reports to Barr. His team is seeking an additional wholesaler to cover the Gulf States region which runs from Texas to Florida.

Another addition was the move of Maureen McLaughlin from another post within the bank to oversee the unit's internal wholesaling group. The internal wholesaling group under McLaughlin expects to add one more member.

Barr also has high hopes for the institutional wholesaling group headed by Pat Kennedy, which targets charitable foundations, endowments and retirement plans. The group recently added Tim Ponstingly and is seeking another member to cover the Michigan, Illinois and Indiana region.

The person-in-the-field efforts will be supplemented with ewholsaling features on the ArmadaFunds.com Web site. Barr expects those changes to be completed by the end of the first half of 2002. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

3.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use