MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Wednesday, November 12, 2014 Porcelli Splits BlackRock's B-D Distro, With the Help of a JPMAM Bigwig Frank Porcelli is reorganizing BlackRock's [profile] advisor distribution, and he's hiring a J.P. Morgan [profile] alum to lead part of the effort. Jessica Toonkel of Reuters reports that today Porcelli, head of the U.S. wealth advisory business at BlackRock, sent an internal memo explaining that the giant asset manager is splitting its wirehouse distribution efforts from its independent broker-dealer distribution efforts. To that end, Reuters adds, early in 2015 former J.P. Morgan Funds global strategic relationships managing director Lee Beck will join BlackRock to lead the wirehouse channel. "We are preparing to capture more fully opportunities in the independents and wirehouses," Porcelli reportedly writes in the memo. Porcelli also revealed plans to rotate sales leaders between different channels and roles. Printed from: MFWire.com/story.asp?s=50150 Copyright 2014, InvestmentWires, Inc. All Rights Reserved |