has appointed Colin Starks
as senior vice president and national sales director of the firm's broker/dealer sales division. Starks, a nine-year company veteran, was most recently national account manager in the broker/dealer area. In his new role, he takes over from Richard Boyd
, a 26-year Federated veteran, who will now focus his efforts on growing Federated's $72 billion broker/dealer retail cash management business as well as continuing to oversee certain retail shareholder marketing initiatives.
Federated Investors, Inc. (NYSE: FII - News), one of the nation's largest investment managers, announced today the appointment of Colin B. Starks as senior vice president and national sales director of the firm's broker/dealer sales division, where he will work to identify new growth opportunities and oversee the sales and distribution of all Federated products and services within the broker/dealer market. The announcement was made by Thomas E. Territ, president of Federated Securities Corp.
Starks has 14 years of industry experience. In his nine years with Federated, he has served in a managerial capacity, first as regional manager and later as national account manager in the broker/dealer area. He earned sales manager of the year awards on five occasions and was successful in managing key account relationships with some of Federated's top clients.
"Colin has shown tremendous leadership and motivational abilities in directing regional sales efforts in the broker/dealer channel," said Territ. "I have no doubt that his success will carry over into his new role as national sales director as he works to grow Federated's sales."
Prior to joining Federated in 1998, Starks had 15 years of sales, marketing and executive management experience with IBM and five years of broker/dealer sales and distribution experience with Fidelity Investments. Starks holds a master's degree in business administration and a bachelor's degree in accounting from Duke University. He also is a graduate of the Securities Industry Institute at The Wharton School of the University of Pennsylvania.
Starks will replace Richard W. Boyd, a 26-year Federated veteran who has played a pivotal role in expanding the broker/dealer division. During Boyd's tenure as a senior sales manager, his significant contributions led to a 32 percent increase in the number of cash management firms that Federated services. Boyd will now focus his efforts on growing Federated's $72 billion broker/dealer retail cash management business as well as continuing to oversee certain retail shareholder marketing initiatives.
Federated Investors, Inc. is one of the largest investment managers in the United States, managing $276 billion in assets as of Sept. 30, 2007. With 150 mutual funds and a variety of separately managed account options, Federated provides comprehensive investment management to more than 5,400 institutions and intermediaries including corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. For more information, visit FederatedInvestors.com.
Certain statements in this press release, such as those related to growth opportunities and sales growth, constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance or achievements of the company to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward- looking statements. Among other risks are that Federated is unable to grow sales or identify growth opportunities as anticipated, as well as the risk factors discussed in the company's annual and quarterly reports as filed with the Securities and Exchange Commission. Many of these factors may be impacted as a result of the ongoing threat of terrorism. As a result, no assurance can be given as to future results, levels of activity, performance or achievements, and neither the company nor any other person assumes responsibility for the accuracy and completeness of such statements in the future.
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