recently shook up DoubleLine's
] distribution team with a host of promotions to lead different channels, and he's hunting for new hires for several posts.
"One of the major initiatives at the firm from a distribution perspective has been sort of a restructuring of our leadership at the relationship management level," says Redell, president of DoubleLine Funds and executive vice president of global relationship management (DoubleLine calls its distribution team members "relationship managers") at the Los Angeles-based mutual fund shop.
Previously, DoubleLine didn't really channelize its distribution leadership, but no longer. Redell's leadership team now includes: Katherine Ali
, head of subadvisory relationships (the second-largest part of DoubleLine's business, after its own mutual funds); Nick Dalgety
, head of the advisor channel (which includes DoubleLine's traditional, FA-focused wholesalers); Rafer Kingston
, a Pimco alumnus in the bank trust channel; Joel Pena
, who leads RM efforts in Canada and Latin America; Fred Schachinger
, head of the institutional sales force; and Ignacio Sosa
, a product developer and another Pimco alumnus who now leads international efforts.
"We're trying to evolve and sort of build for the future," Redell tells MFWire
. "We never had focused leadership [in these channels] ... Each team leader and manager will be responsible for setting their business model."
Redell's team now includes an eight-person advisor channel team, a four-person institutional team, a four-person subadvisory team, a six-person international and consultant relations team, and some internal wholesalers. Watch for Redell to add two new advisor channel hires, including a wholesaler in the southeast to cover independent broker-dealers and wirehouses.
DoubleLine is primarily owned by about 45 of its 215 employees, and the firm had about $119 billion in AUM as of the end of March.
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