Putnam Investments announced last week that in 2011, it has expanded its wholesaling staff by 20%, bringing its total external wholesalers to 54 and nearly as many internally. Wholesalers who recently joined Putnam include:

* Bud Angelus, a 16-year industry veteran who previously was with Alliance Bernstein Investments.

* David Fischer, a seven-year veteran who hailed from SunAmerica.

* Dan Hemberger, another 16-year veteran who came from Alliance Bernstein.

* Linda Phelps, a 26-year veteran who was previously with Principal Fund Distributors.

*Eighteen-year industry veteran Bryan Schwarz, who was previously with Lord Abbett.

"As we evaluate near-term and long-term market opportunities and look at how to be the best possible partner to client firms and advisers, we think it is critical to offer strong on-the-ground presence in key markets, highly knowledgeable and efficient telephone-based sales and adviser support, and customized, empowering web-based tools," said Bill Connolly, head of global distribution at Putnam.

"Our overall wholesaling offering is designed to address the growing complexity of market needs, including greater demand than ever from advisers for differentiated investment solutions and help with key practice management elements-like product intelligence, wealth management insight and broader investment thought leadership," Connolly added.

Putnam also noted that a recent Kasina report indicated that during the last two years, the number of financial advisers who consider themselves "advocates" of Putnam wholesalers, has risen 150%.


Clemons Becomes Director Of Sales at Direxion

Direxion has named Harold W. Clemons senior sales director for the Mid-South region. In this position, Clemons is responsible for selling Direxion's alternative products to financial advisers across all channels-including whirehouses, regional broker-dealers, registered investment advisors and others.

"Harold is exactly the kind of seasoned industry professional we want on the Direxion team as we empower an ever-increasing number of advisers and their clients to employ alternative investment strategies historically used only by large institutions," said John Cadigan, national sales manager at Direxion. "With financial markets remaining highly unpredictable, we believe it's more important than ever for investors to further diversify their portfolios. Adding Harold to our sales team is further evidence of our commitment to helping investment professionals and their clients manage risk with innovative strategies."

Clemons was previously with Principal Funds as regional director of the Dallas-Fort Worth areas. A 25-year veteran of the asset management business, Clemons also worked at Capital Real Estate Securities, Dreyfus, Merrill Lynch Investment Managers, BlackRock and PIMCO Allianz Investments.

"Direxion is a pioneer in bringing alternative investment strategies to sophisticated advisers and investors," Clemons said. "I'm excited about the opportunity that lies ahead to connect advisers and their clients throughout the Mid-South region with the diverse suite of innovative investment products Direxion is known for."


Brown Brothers Names Egert Compliance Chief

Brown Brothers Harriman has named Mark Egert director of compliance for its investment management and markets lines of business, based in New York. Egert will also serve as chief compliance officer for FINRA.

He reports to Kathryn George, a BBH partner, and replaces Beth Haddock, who has assumed a new position in BBH's office of the general counsel.

"We are thrilled to have Mark join the firm," George said. "With a rapidly changing regulatory environment, Mark's deep expertise will be additive to the strong compliance foundation that's already in place, while ensuring our core focus remains delivering clients the best possible service."

Egert hails from Crowell & Moring's corporate, financial services and white collar and regulatory enforcement groups. He also was chief compliance officer at Cowen and Company, legal and compliance director for RBC Capital Markets, vice president and associate general counsel at the Securities Industry and Financial Markets Association and executive director and chief legal officer at ABN AMRO Bank. Egert has more than 23 years of industry experience and is a frequent speaker at securities conferences.


Strategic Insight Acquires FRC

Strategic Insight parent Asset International has completed its anticipated acquisition of certain FRC products-and says it will make "significant investments to strengthen, enhance and expand acquired FRC products." The acquired products-Monitor Lifecycle, Market Sizing, Sub-Advisory Alternatives and 529 college savings product lines-will become a separate division of Strategic Insight and operate out of Asset International's Boston office.

Asset International Senior Vice President of Operations Mike Rosenthal will become general manager of the new FRC division.

"We perceive considerable value in the more than two-decades-old FRC brand and expect FRC's client base to respond positively to the investments we are prepared to make in each of the product lines," said Jim Casella, chair and CEO of Asset International. "The new FRC division is a good fit with our business. FRC's clients can expect the FRC products to deliver even greater value over time."

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