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Monday, August 02, 2010

Hensler Reshapes OppFunds' Distribution

News summary by MFWire's editors

Philipp Hensler only joined OppenheimerFunds on April 1, and already he is making his mark. As head of distribution, Hensler has reorganized the New York-based mutual fund firm's distribution efforts around five teams: intermediary distribution, operations, strategic accounts and wealth management, as well as a brand new one for e-distribution. Hensler is now on the prowl for chiefs for each of those teams.

A spokesman for OppFunds, which is a MassMutual subsidiary, confirmed to The MFWire that Hensler's 360-person distribution unit will make new hires, especially in the intermediary and strategic account channels. In the intermediary (i.e. non-RIA advisor) channel, Hensler boasts 83 external wholesalers and 83 internals, all focused on advisors. Wealth management targets bank trust departments and RIAs. Operations will now combine both institutional and retail service, and strategic accounts will draw members from every channel.

As for the new e-distribution team, one source familiar with the situation told The MFWire that OppFunds previously had a small e-wholesaling force back in 2006 or 2007. The new e-distribution team will use online technology to connect with advisors (particularly those whom the intermediary and wealth management channels don't normally reach).

Hensler joined OppFunds on April 1 as one of a number of new additions to CEO Bill Glavin's new senior leadership team. Others include: equities chief investment officer Chris Leavy; fixed income CIO Art Steinmetz; and chief marketing officer Marty Willis

Edited by: Neil Anderson, Managing Editor

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