Pioneer Investments has made a series of new hires and promotions that are part of its plan to increase its U.S. retail sales team by approximately 25% in 2012.
In total, 16 new positions were added, bringing the internal and external wholesaling sales staff to 81, an increase of 23%. The additions include 15 new wholesalers supporting wealth management firms and independent financial advisor firms in different regions throughout the U.S.
Nine of these hires fill newly created positions and six are internal promotions or replacement hires. Pioneer Investments’ external wholesaling team now totals 48. In addition, Pioneer named 13 new regional sales specialists (internal wholesalers) who support Pioneer’s field wholesalers.
“As part of our long-term business plan announced earlier this year, we are making strategic hires throughout the company, with a particular emphasis on the distribution and investment teams in the U.S.,” stated Daniel K. Kingsbury, president and chief executive of Pioneer Investments’ U.S. Division.
“The new hires announced today are a central component of a strategy to grow our business with the help of an expanded retail sales team that can reach a larger number of wealth management firms and independent financial advisors, which are among Pioneer’s largest client segments in the U.S.”
Joseph D. Kringdon, head of U.S. Retail Distribution, added that: “Wealth managers and IFAs are rapidly growing their businesses as retail investors look for investment advice in today’s difficult markets, and Pioneer is growing along with them. Our new hires allow us to reconfigure certain territories both to reach new clients and to increase the amount of support we provide to existing clients.”