Pioneer Investment Management has broken up its distribution marketing unit into two separate divisions, Distribution and Strategic Marketing, the firm announced today. In a related announcement, the firm has also hired two former Fidelity executives for the two new divisions.

"After reviewing Pioneer’s structure alongside our goals, it was clear to me that a change was necessary," said Dan Geraci, CEO of Pioneer. "Strategic marketing and distribution are both areas of critical importance as we move to broaden Pioneer’s product line and realize our aggressive long-term goals. The new structure allows for greater focus in both areas."

Bill O’Grady will head the distribution unit as the executive VP of distribution. O’Grady, who joins Pioneer today, was most recently at Fidelity, where he managed multi-channel distribution. Previously, he headed up bank distribution at Alliance.

The marketing unit will be led by Steven Graziano, who has been with Pioneer for eight years. As Executive VP of strategic marketing, Graziano oversee product development and management and new business development and marketing.

In addition, Pioneer has hired Richard Sardelli for the marketing unit. He joins Pioneer today as senior VP and director of marketing communications. He will report to Graziano. Sardelli was most recently senior VP of marketing communications for Fidelity Investments Institutional Services. He previously worked at several advertising agencies in New York.

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