Principal Funds Boosts RIA Coverage

Principal Funds has added three new regional directors to the firm's investment only team: Marcel Dawson, Gary Nakamura and Pamela Suing, focusing on growth within the registered investment advisor distribution channel.

Dawson, based in Charlotte, N.C., covers the South Central region. Most recently, he was a regional vice president with Pioneer Investments/UniCredit SpA, where he directed sales to institutional RIA clients in 15 states.

Nakamura covers the West and is based in Golden, Colo. He most recently worked for MFS Investment Management as a director of sales within the firm's RIA division.

And Suing is based in Chicago and covers the North/Northeast. Suing previously worked for Nuveen Investments, where she was an RIA consultant.

According to the firm, investment-only sales reached $2.3 billion at the end of 2011, compared to $400 million in 2007.

DST Revamps Sales, Marketing Units

Kansas City, MO-based DST Retirement Solutions, a front- and back-office technology and service provider for financial service organizations offering retirement plan recordkeeping, is making a few changes to its sales and marketing units, Money Management Executive has learned.

According to an internal memo obtained by MME, Jane Brennan, currently COO, will manage the BPO Service Delivery organization, and Rich Croak, currently vice president, product management, will manage Product and Business Analysis for new and existing customers.

Also, Frank LoMedico, CIO, will be responsible for all Development and Production Support teams, Joe Rathgeb, chief development officer, will be responsible for the Retirement Business Strategy & Planning, Program Management Office, Financial & Budgeting Process and Capacity & Resource Management.

As well, Ian Sheridan, who came on board last year as a divisional vice president from First Mercantile, will be responsible for Sales, Client and Consultant Relationship Management and Marketing/Communications.

"Phase One will be effective on May 1st and will include the transition of the Sales, Marketing and Relationship Management functions to Ian Sheridan," according to Jude Metcalfe, president of DST Retirement. "Phase Two is targeted for mid June and will complete the transition of the remaining functions."


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