Pioneer Investment Management of Boston announced it is adding 30 representatives to its sales force in an effort to increase annual sales to $10 billion by 2003, said Tara Pescatore, a company spokesperson. Currently, the firm has about $3 billion in annual sales, she said. It has 50 sales reps.

The firm is also dividing its sales territories into four regions in order to provide more focused sales coverage for each area, she said. The firm will split its Western and Eastern sales regions into Northeast, Southeast, Central and Western regions, said Pescatore.

The firm named Nate Algier, Sherwood Harris and Jeffrey Saunders divisional sales managers and senior vice presidents. Their responsibilities include sales development with regional broker-dealers and financial planning firms. The firm will name 15 new vice presidents who will work under the sales managers as well as 15 sales support staff, the company announced.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.