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Monday, May 24, 2010|
Virtus Funds 'New Sales Head Hails from UBS
Virtus Investment Partners has tapped one of its alums to head its retail distribution. Jeffrey Cerutti joins the firm on June 1 from UBS Asset Management where he headed mutual fund, seperately managed account and alternatives distribution through the retail channel.
Cerutti had previously served as national sales manager for Phoenix Investment Partners, a predecessor company to Virtus, from 1999 until 2001.
In his new post, Cerutti will oversee Virtus' retail distribution efforts for the Virtus Mutual Funds and the Virtus separately managed accounts and report to George R. Aylward, president and chief executive officer.
Cerutti will also oversee the retail sales force and manage Virtus' relationships with its retail product distribution partners, which include national, regional and independent broker-dealers and registered investment advisors. He will also drive the positioning, messaging and marketing of Virtus' retail investment products among financial advisors.
A spokesperson for UBS Asset Management was not available for comment on how Cerutti's former duties are being handled.
Virtus Investment Partners Announces Jeffrey Cerutti Will Join as Head of Retail DistributionHARTFORD, Conn., May 24 -- Virtus Investment Partners, Inc. (Nasdaq: VRTS), which operates a multi-manager asset management business, today announced that Jeffrey Cerutti has accepted the position of executive vice president and head of retail distribution, effective June 1.
In this role, he will be responsible for distribution efforts of the company's retail investment products, including the Virtus Mutual Funds and separately managed accounts. Cerutti will oversee the retail sales force and manage Virtus' relationships with its retail product distribution partners, which include national, regional and independent broker-dealers and registered investment advisors. He will also drive the positioning, messaging and marketing of Virtus' retail investment products among financial advisors.
"We are very excited about adding Jeff to the Virtus management team to lead our experienced retail sales force and our marketing efforts. He has a successful track record of raising and retaining assets, and is the right person to help us build on our current sales momentum," said George R. Aylward, president and chief executive officer.
Aylward noted that Cerutti, who has more than 20 years of experience in the investment management industry, has a deep understanding of investors' needs and product positioning. "Jeff's 15-plus years of sales management leadership, as well as his hands-on approach, will greatly enhance our current sales and marketing efforts."
In 2009, Virtus had gross sales of $2.8 billion for its long-term mutual funds, and $1.0 billion for separately managed accounts. In the 2010 first quarter, Virtus had gross long-term mutual fund sales of $989 million and separately managed account sales of $117 million.
Cerutti joins Virtus from UBS Global Asset Management, where he led the distribution efforts of their mutual funds, separately managed accounts and alternative investments within various retail channels as managing director and head of third party sales. He joined UBS in 2001.
"I am thrilled to be joining Virtus," Cerutti said. "I greatly admire their multi-manager model because it gives the sales teams an opportunity to better partner with financial advisors in a way that's more consultative and holistic than traditional asset management firms. I am optimistic and confident that Virtus' deep line-up of investment talent is the right fit for financial advisors looking to distinguish themselves and help clients reach their financial goals."
Cerutti previously worked at Virtus as national sales manager for the financial planners channel from 1999 to 2001, following four years as national sales manager at Zweig Mutual Funds, which was acquired by Virtus in 1999. He began his career in the investment management industry in sales with Gabelli Mutual Funds.
Cerutti, who currently lives in Mount Kisco, N.Y., is a 1990 graduate of Skidmore College.
About Virtus Investment PartnersVirtus Investment Partners (Nasdaq: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. The company provides investment management products and services through its affiliated managers and select subadvisers, each with a distinct investment style, autonomous investment process and individual brand. Virtus Investment Partners offers access to a variety of investment styles across multiple disciplines to meet a wide array of investor needs. Additional information can be found at www.virtus.com.
SOURCE Virtus Investment Partners, Inc.
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