In a move to further expand its US operations, Pioneer Investments has made a series of new hires and promotions that are part of a plan to increase its US retail sales team by approximately 25 per cent in 2012.
The hires follow a recently announced five-year strategic plan that aims to increase organic growth through substantial investments in the business.
“As part of our long-term business plan announced earlier this year, we are making strategic hires throughout the company, with a particular emphasis on the distribution and investment teams in the US,” says Daniel K. Kingsbury, president and chief executive of Pioneer Investments’ US division. “The new hires announced today are a central component of a strategy to grow our business with the help of an expanded retail sales team that can reach a larger number of wealth management firms and independent financial advisers, which are among Pioneer’s largest client segments in the US.”
In total, 16 new positions were added, bringing the internal and external wholesaling sales staff to 81, an increase of 23 per cent. The additions include 15 new wholesalers supporting wealth management firms and independent financial adviser firms in different regions throughout the US.
Nine of these hires fill newly created positions and six are internal promotions or replacement hires.
Pioneer Investments’ external wholesaling team now totals 48.
In addition, Pioneer named 13 new regional sales specialists (internal wholesalers) who support Pioneer’s field wholesalers. This includes seven newly created RSS positions, along with promotions and replacements, and brings the size of Pioneer’s internal wholesaling team to 33.