OppenheimerFunds has hired William C. Carey as head of distribution and Martha B. Willis as chief marketing officer, to help the firm respond to a rapidly changing industry and to streamline marketing and distribution functions across the firm’s various business lines and out to clients.

“In early 2009, OppenheimerFunds embarked on a plan to focus on our core strengths in order to better serve clients and build on a long history of investment excellence,” said Bill Glavin, CEO of OppenheimerFunds. “Along with the investment and risk management leadership we put in place earlier this year, Bill and Marty will help us shape product and distribution strategies and maximize the strong sales and marketing talent we already have at OppenheimerFunds.”

Carey, who starts on Sept. 21, comes to the firm from Bank of America, where he was managing director of distribution and relationship management in the institutional retirement, philanthropy and investments division. Before joining BoA in 2007, he was with Fidelity for 14 years. His last position there was as president of the institutional retirement services division and the registered investment advisor group.

Carey is replacing Richard Knott, who has decided to leave the company to pursue entrepreneurial opportunities.

Willis, who starts on Oct. 1, comes to the firm after a 25-year run at Fidelity, most recently as executive vice president, investment product management, in the mutual fund distribution division. She began her career as a wholesaler for MFS Investment Management.

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