Franklin Templeton Restructures Sales Force
November 5, 2001
Franklin Templeton Investments announced that, effective Jan. 1, 2002, it will combine its financial advisor and financial institutions divisions to form the independent and bank division. There will be no change in wholesaler staffing as a result of the combination. However, territories in the independent & bank division and the wirehouse/regional division will be redefined, and in most cases, reduced in size.
"The channel consolidation and redefined territories will allow our wholesalers to serve financial advisors more efficiently and effectively," said Peter Jones, president of Franklin Templeton Distributors. "The new structure will create a uniformity in sales and number of advisors within each territory, allow for all-around better coverage and reduce travel time."
As a result of the restructuring, Franklin Templeton has announced a number of promotions. Dan O'Lear, director of sales, will now oversee all sales divisions including the independent and bank and wirehouse/regional divisions. Phil Edelstein and Bob Geppner have been named directors of sales for these two divisions, respectively.
Dan Grip has been named eastern national sales manager for the wirehouse/regional division reporting to Bob Geppner, and Toby Mumford, the former head of sales for banks, has been named senior managing director of alternative investment distribution for Franklin Templeton.
Gary Pzegeo Joins Gannett Welsh & Kotler
Gannett Welsh & Kotler has appointed Gary Pzegeo as its newest VP and portfolio manager of taxable fixed-income strategies. Pzegeo joins Gannett Welsh & Kotler from Evergreen Investments, where he was managing director in the fixed-income group, responsible for strategy creation, asset allocation, portfolio management and security analysis.
Pzegeo, who has the CFA designation, spent 11 years at Evergreen, most recently managing $2 billion in fixed-income assets. At Gannett Welsh & Kotler he will serve as portfolio manager for the total-return bond and core-plus strategies.
Gannett Welsh & Kotler was founded in 1974. The firm provides investment management to high-net-worth individuals and institutions, and has $4.8 billion under management. Of its two mutual funds, the GW&K Equity Fund and the GW&K Large Cap Growth Fund, the Equity Fund is rated four stars by Morningstar.