Expect more sales hires to come from Montage Asset Management
] and its credit-related strategy boutique, Palmer Square Capital Management
The boutique, which markets two mutual funds, recently hired Emily Colella
as a managing director, responsible for business development in Palmer's institutional channel.
However, Colella, who has had similar roles at such shops as SI Investment Management
, Artisan Partners
and Wilshire Associates
, will also devote a fair amount of her time to supporting Palmer's ongoing wholesaling expansion towards RIAs, advisors and broker-dealers, according to Palmer chief executive Chris Long
It is in this area that Long expects to see more hires in the coming six to twelve months.
"Our products tend to resonate really well with the advisor that has the mass affluent type of client who needs additional portfolio sophistication to drive their investment needs," he says.
Palmer, which is majority owned by Montage, currently has a distribution team consisting of 21 people, including 11 wholesalers. Palmer also dovetails many of its sales initiatives with Montage, which has its own distribution team of some 34 people. Montage markets a total of five mutual funds, including the two run by Palmer.
Long says he will be looking for "best athletes" who are comfortable caching out to RIAs, family officers as well as broker dealers.
His firm will also be looking to expand its distribution force aimed at state plans, foundations and institutional consultants in the coming months.
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