Kelmoore Investment Company of Palo Alto, Calif., has added 13 new sales positions, including four new members to its internal sales force, the company announced.

In addition, the firm has redrawn its sales territories, replacing eight existing territories with 22 territories. The plan is to make it easier for the sales staff to manage accounts, said Tammy Heiman, senior executive vice president at Kelmoore. The firm plans to hire nine more salespeople this summer, she said.

The company, with more than $400 million in assets under management, has hired Matthew A. Blumenfeld, who previously was account executive of investments at CIBC Oppenheimer.

Additional new hires include Gregg B. Cormier, who was a financial advisor with Morgan Stanley Dean Witter of New York, Natalie Jefford who was a business development specialist with Van Kampen Investments of Oakbrook Terrace, Ill. and Pete Savarese, who was a regional vice president with Calamos Asset Management of Naperville, Ill.

The four new hires will assume the titles of senior inside sales representative and will work under Michael N. Loukas, senior vice president and national inside sales manager.

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