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ARK Funds Hires National Sales Manager

The ARK Funds announced that Darryl Grayson has been named senior VP and national sales manager for the Baltimore-based fund family. Grayson was previously at the Delaware Funds, where he had served as VP and sales director since 1997.

Grayson will be responsible for national and regional distribution through brokerage firms, independent financial advisors, and RIAs, according to ARK Funds. Previously, the firm had no national sales manager as the funds were sold primarily through Allfirst Bank, the parent company of ARK's investment advisor Allied Investment Advisors, said Michele Dalton, managing director and head of the ARK Funds.

Following the ARK Funds' merger with the Govett Funds in Oct. 2000, the firm took on more than 350 broker-dealer selling agreements with outside brokers and now has more than 400 agreements in total, according Dalton.

The firm is now aggressively seeking to increase its business through the broker/dealer distribution channel and is preparing to launch a national sales effort, which Grayson will lead, Dalton said. The firm will is planning to build a staff under Grayson to facilitate that effort.