Financial Research Corporation
(FRC), a subsidiary of BISYS
, has tapped John Benvenuto
to head Mutual Fund Products and Distribution, its largest group. Benvenuto was formerly the director of research for FRC.
Benvenuto fills a position left by Laura Van Zandt, who quit to join Wellington Management
at the end of April.
As the head of the fund group, Benvenuto will be responsible for product development, consulting, and client service, with a focus on developing services for distributors of mutual funds. In the past, the group has focused on investment managers, but FRC is now increasing services in the distribution channel, said spokesman Neil Bathon.
The promotion is setting off a domino effect at the firm as Michael Evans steps up as the new Director of Research and David Haywood will take on some of Michael Evans' work. Evans was formerly the managed account subject matter expert, and Haywood is the expert in alternative products.
The research firm also hopes to hire three more analysts by July, said Bathon. Typically, analysts have three to four years of experience working at a fund firm. The firm has made a decision on one analyst, but is still searching to fill two positions.
One analyst will likely work in variable annuities, while two will cover mutual funds; all analysts report to Michael Evans.
FRC hopes to finish transitioning everyone into their new roles by the beginning of June, said Bathon.
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