has shaken up it's distribution structure with the formation of a new division to be headed by Mike Woods
. Prior to joining Evergreen, Woods was chief executive officer of XTF Global Asset Management
"Leveraging Mike's leadership and expertise, we can continue to build awareness of Evergreen's multi-boutique investment capabilities across multiple investment vehicles when we meet with our financial institution partners," said Peter Cieszko, president of global distribution at Evergreen.
The Financial Institutions Group (FIG) will gather Evergreen's existing Financial Advisory Division (FAD); Sub-Advisory Relations Group; and Defined Contribution Investment Only (DCIO) business under one umbrella.
, head of the sub-advisory business, which DCIO already falls under, will report to Woods, according to company spokeswoman, Laura Fay
. Evergreen is currently looking for a new sales manager to head up the Financial Advisory Division; whenever he/she is found they will also report to Woods, Fay said.
As head of this new group, Woods will be tasked with the distribution of Evergreen products and investment strategies through independent financial planners and registered investment advisors, in addition to working with certain institutional clients--including variable annuity companies, defined contribution recordkeepers, insurance companies, and banks--to leverage Evergreen's investment capabilities and administration efficiencies in a sub- advisory capacity.
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