Robert Tousignant, a former Phoenix Investment Partners and Fidelity Investments executive, has been hired by Federated Investors to lead the firm's efforts to expand it's managed account sales.
Tousignant will serve as Federated's national sales manager for managed accounts, the firm said last week. At Phoenix, Touisgant attracted billions of dollars in assets to that company's managed account programs, Federated said. He has also worked at Citibank and Roger Engemann and Associates.
"Federated believes that our managed account business will be a key growth ingredient for the firm," said James F. Getz, president of Federated Securities Corp. Getz said Touisgant's experience "will enable us to leverage our existing relationships with thousands of financial intermediaries and gain significant new business."
The firm has offered managed accounts to the super-rich for 32 years, requiring minimum investments of $10 million. Last year, Federated began offering managed accounts through investment advisers for minimum investments of $100,000.
The company offers the products through at least a half-dozen distributors such as Charles Schwab and InterSecurities. Federated said it is negotiating with additional firms and banks to carry the product line.
