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Rating:BMO's Enochs Has Ten Intermediary Sales Positions Open Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, April 23, 2014

BMO's Enochs Has Ten Intermediary Sales Positions Open

Reported by Tommy Fernandez

If you know your 12b1 fees from your CSDC charges and can sweet-talk your way into the heart of any platform analyst, then there might be a job for you at BMO Global Asset Management.

But, hurry. There are only 10 spots left and they'll be filled by the summer.

"We've really been proceeding at a rapid clip hiring people for our sales team," Phil Enochs, managing director of relationship management U.S. and international at BMOs Global Asset Management. recently told MFWire.

Enochs and his colleagues launched the initiative to double BMO's sales and RM teams late last year. The goal was to hire 35 more people, out of which 25 positions have now been filled.

"We have about ten more folks to bring to the organization. But we are doing that carefully. We want to make sure we have good people who fit our culture," he said.

The previous hires had been across the channels: including institutional, retirement and intermediary channels. "It is fair to say that we have been understaffed relative to other mutual fund companies. We are getting up to competitive levels of staffing for an organization of our size and expect to grow from there," he said.

Developing an intermediary team, and strategies for reaching out to the fund supermarkets and other platforms, is key because "the intermediary world is rapidly evolving," Enochs said.

"We are focused on the professional buyers, getting into models within platforms, getting onto select lists of platforms, and focused on those professional buyers within those intermediary firms. I cannot overemphasize the value of getting onto models and platforms. That is really the emphasis, particularly given where we are, in our evolution," he said.

Enochs' focus is totally on organic sales growth, but when asked if BMO would be open to any acquisitions going forward, he said: "as an organization, I am sure we are open to future acquisitions as any large fund organizations." 

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