Pioneer sets staff growth target in the US to 25%
Pioneer Investments has announced a number of hires and promotions to expand its US operations, as part of a plan to increase its retail sales team in the country by approximately 25% by the end of 2012.
Appointments include a combination of internal promotions or replacement hires and newly created positions, for a total of 16 new positions added, Pioneer said.
Hires include 15 new wholesalers supporting wealth management firms and independent financial advisor firms in different regions throughout the US. Pioneer Investments’ external wholesaling team now totals 48.
In addition, Pioneer Investments named 13 new regional sales specialists to support Pioneer Investments’ field wholesalers. Hires bring the size of Pioneer Investments’ internal wholesaling team to 33. The internal and external wholesale sales staff is now at 81, an increase of 23%, the firm added.
“The new hires 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 planners, which are among Pioneer Investments largest client segments in the US,” said Daniel K. Kingsbury (pictured), president and chief executive of Pioneer Investments US.
Joseph D. Kringdon, executive vice president and head of US retail distribution, added: “Wealth managers and IFAs are rapidly growing their businesses as retail investors look for investment advice in today’s difficult markets, and Pioneer Investments is growing along with them.”
The hires follow the release of a five-year strategic plan which aims to increase organic growth through substantial investments in the business.