GEAM is in the Hunt for Wholesalers
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Wednesday, May 21, 2008

GEAM is in the Hunt for Wholesalers

GE Asset Management (GEAM) is hiring new wholesalers as part of a new sales initiative, according Mike Cosgrove, president and CEO of mutual funds for Stamford, Connecticut-based GEAM. Cosgrove also told The MFWire that GEAM plans to file for international, global and fixed income products in the next month.

In an interview, Cosgrove said new hires for the defined contribution investment-only (DC I-O), bank and wirehouse channels are a big part of the plan at GEAM. Nationwide distribution is the goal, he said, adding that the hiring will continue until as the company grows into this vision.

Expounding on the DC I-O effort, Cosgrove said: "We have a strong base to take advantage of the demographics in the U.S.," referring to the retiring population.

GEAM plans to expand its line of target funds, and also likewise plans to focus sales efforts on retirement-focused financial advisors and taking advantage of IRA rollovers as they increase.

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