In an effort to better leverage their institutional product line, Merrill Lynch Investment Managers (MLIM) has restructured its U.S. Institutional Distribution Group, tapping Dick Hoag for a senior position, the company announced yesterday.
The group, which consists of sales, service and product professionals, is being restructured into the following four areas of focus: Large Market Corporate/Endowments, Foundations and Public Funds, Consultants, and Channels. James Kase heads the group.
MLIM has more than $533 billion under management and offers equity and fixed-income, active and passive products to retail and institutional clients worldwide. The U.S. institutional business has more than $100 billion in assets under management.
In his new position with Merrill, Hoag will oversee the Large Market Corporate/ Endowments and Foundations business, which will serve all MLIM Americas institutional clients with more than $1 billion. He was most recently employed by Gartmore Global Partners, where he served as executive vice president and managing director. At Merrill, he will have the title of managing director and report to Kase.
