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PBHG Hires MLIM Distribution Exec

Pilgrim Baxter and Assoc. announced last week that it has hired Frank McAleer as head of PBHG Funds Distribution. The role, which was handled jointly by several of PBHG Funds' executives, is newly created, according to a spokesman for Pilgrim Baxter.

McAleer, who will also have the title of senior VP for Pilgrim Baxter, will be responsible for all of the retail, intermediary and sub-advisory sales efforts of PBHG Funds, the firm said.

McAleer joins Pilgrim Baxter from Merrill Lynch Investment Managers, where he served as director and head of third-party distribution for its Mercury Funds. At MLIM, he was in charge of forming a sales group to expand the firm's distribution outlets, and he oversaw relationship management with firms that distributed MLIM products.