March 21, 2011
Franklin Templeton Selects Caramazza as Sales Chief
Franklin Templeton Investments is staffing up as it expands services for registered investment advisers.
The firm has promoted Pierre Caramazza to head its sales division. This is a promotion for Caramazza, formerly a senior vice president managing the fixed income product management and development and regional product strategy groups.
"Pierre brings a tremendous amount of product-specific expertise to this position," said Dan O'Lear, executive vice president of U.S. Advisory Services for Franklin Templeton Distributors, Inc. "His proven leadership will be an asset as we strive to deepen our reach in the investment advisor marketplace."
Franklin Templeton is looking for more feedback from advisers, O'Lear said, and plans to improve its investment materials for customers. "Pierre Caramazza's hire and the increase in resources devoted to the RIA channel follows our view that the market segment will continue its explosive growth and is a reflection of our desire to dedicate appropriate resources to the channel," he said.
The company has also tapped Michael Mahoney as the new head of internal and digital sales. In this role, Mahoney is responsible for overseeing and mentoring the firm's internal sales staff and developing ways to enhance sales techniques in the digital age. "Mike is an experienced external sales representative with a deep understanding of the needs of financial advisers and their clients," O'Lear said. "Bringing him 'inside' will greatly benefit our internal sales team by strengthening continuity between our internal and external wholesaling teams."
Caramazza, who has 15 years of experience in financial services, will oversee an expansion that includes the addition of three new field positions:
Michael Wasz is vice president and regional director covering the central region of the U.S. He transferred from a similar position with Franklin Templeton Portfolio Advisors, the firm's separately managed accounts division.
Matthew Carlisle is vice president and regional director covering the southeast region. He joined the firm in November with 20 years of experience in the industry, primarily working with registered investment advisers.
Raymond Parker, an investment advisor specialist in the RIA division, was promoted to regional specialist covering the northeast.
Tom Johnson, who manages national key account relationships and the internal sales desk for the RIA division, will continue in this role. Johnson is also now assuming management responsibility for the separately managed account internal sales desk. Mahoney will work closely with Franklin Templeton's marketing and technology groups to continue to develop the firm's total relationship strategies. The divisional sales manager role previously held by Mahoney will be assumed by Jeffery Rose, who will now oversee the Minnesota, North and South Dakota, Nebraska, Iowa, Kansas, Oklahoma, Arkansas, Louisiana and Texas sales territories.
Morningstar's Dorsey Now With Sanibel Captiva Trust
Patrick Dorsey, formerly director of research at Morningstar, is joining Sanibel Captiva Trust as vice chairman, director of research and strategy. He will also serve as chairman of the company's asset management committee.
Dorsey will oversee all research efforts, assist in new business development and help oversee major client accounts.
"We are honored and flattered that Pat is joining us," said Albert D. Hanser, founder, chief executive officer and co-chairman of Sanibel Captiva Trust. "Pat's groundbreaking thinking on how to identify true competitive advantage fits perfectly with our long-term value approach to investing. Our clients will benefit greatly from his expertise."
Donald (Chip) Lesch, the other co-chairmain of Sanibel Captiva, added: "Pat Dorsey's institutional perspective to money management will further strengthen our capabilities to meet our clients' needs today and in the future. Our respect for Morningstar as being the leader in independent investment research and judgment is steadfast. We hold both their services and impeccable global reputation in high regard."
Dorsey joined Morningstar in 1998, where as director of equity research, he led a team of more than 100 equity analysts.
Davies to Leave Alliance And Join Russell
Richard Davies is leaving AllianceBernstein to join Russell Investments as the head of its defined contribution business.
A 21-year veteran of the financial services industry, Davies will be responsible for the leadership, strategic direction and growth of Russell's DC business. He will report to Russell CEO Americas Institutional Greg Gilbert and join the firm on June 1.
"There is growing momentum around the open architecture and objective, institutional-quality solutions that Russell provides for plan participants, so we are excited to welcome a leader of Dick's caliber to help us maximize growth opportunities for our DC business," Gilbert said. "Dick comes to us with a demonstrated track record of building client-focused businesses and is a perfect complement to our existing strong team of DC experts and our robust set of DC solutions."
Andrew Doman, president and CEO of Russell Investments, added: "The global retirement landscape is undergoing a dramatic transformation with the continued, rapid shift from DB to DC. Dick's appointment further bolsters our long-term commitment to meeting the growing needs of the DC market."