Virtus Investment Partners Announces Retail Distribution Leadership Roles

Rhea-AI Summary

Virtus Investment Partners has announced two leadership changes, with Joseph Maccone becoming head of strategic distribution and Thomas Franco being promoted to head of retail sales. Maccone will focus on enhancing the company's retail distribution and increasing sales in the registered investment advisor channel, among other responsibilities. Franco will lead the company's external and internal U.S. retail sales teams. Both will report to Barry Mandinach, executive vice president and head of distribution.

Positive

• Joseph Maccone has rejoined Virtus Investment Partners as head of strategic distribution, which could enhance the company's retail growth strategy in an evolving industry.
• Thomas Franco's promotion to head of retail sales could lead to effective multi-manager, multi-strategy retail business development efforts.

Negative

• None.

Maccone to lead strategic distribution; Franco to lead U.S. retail sales team

HARTFORD, Conn.--(BUSINESS WIRE)-- Virtus Investment Partners, Inc. (NASDAQ: VRTS), which operates a multi-boutique asset management business, today announced that Joseph E. Maccone has rejoined the company in a new role as senior managing director and head of strategic distribution and Thomas Franco has been promoted to senior managing director and head of retail sales. They both report to Barry Mandinach, executive vice present and head of distribution.

Maccone will be responsible for leading the ongoing, strategic evolution of the company’s retail distribution by building on its successful collaborations with distribution partners; enhancing its strategy for increasing sales in the registered investment advisor (RIA) channel; accelerating the growth of alternatives and other non-correlated investment strategies; and driving the distribution support of the development and introduction of new products. The company’s National Accounts, Distribution Intelligence, and Offshore Retail Sales teams will report to Maccone.

Franco assumes overall leadership of the company’s external and internal U.S. retail sales teams that promote Virtus and its affiliated managers’ offerings through intermediaries at national and regional firms, and independent broker/dealers. Franco is responsible for ensuring continuation of the company’s effective multi-manager, multi-strategy retail business development efforts.

“Joe and Tom bring a wealth of product knowledge and exceptional relationships with our intermediaries and distribution partners into these new and expanded leadership roles,” Mandinach said. “The combination of Tom’s excellence in culture-building and sales leadership and Joe’s demonstrated track record in strategic business development will enhance the continued execution of our retail growth strategy in an evolving industry.”

Maccone joins the company from Affiliated Managers Group, where he most recently was head of U.S. intermediary distribution. He previously was the divisional sales manager of the eastern region at Virtus and earlier was national sales manager for alternative investments at UBS Global Asset Management, where he worked in the private client and ultra-high net worth channels. He holds a bachelor’s degree in business administration from Villanova University and earned an MBA from the Stern School of Business at New York University.

Franco has led Virtus’ West region wirehouse sales division since 2015 after joining the company from UBS Global Asset Management, where he was managing director and head of national sales since 2009. Prior to joining UBS, he was a regional sales manager at the predecessor to Virtus. He holds a bachelor’s degree in criminal justice from the State University of New York at Oswego.

About Virtus Investment Partners, Inc.
Virtus Investment Partners (NASDAQ: VRTS) is a distinctive partnership of boutique investment managers singularly committed to the long-term success of individual and institutional investors. We provide investment management products and services from our affiliated managers, each with a distinct investment style and autonomous investment process, as well as select subadvisers. Investment solutions are available across multiple disciplines and product types to meet a wide array of investor needs. Additional information about our firm, investment partners, and strategies is available at virtus.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230608005206/en/

Joe Fazzino

Virtus Investment Partners

(860) 263-4725

joe.fazzino@virtus.com

Jaime Doyle

JConnelly

(973) 944-8105

jdoyle@jconnelly.com

Source: Virtus Investment Partners, Inc.

FAQ

Who is Joseph Maccone and what is his role at Virtus Investment Partners?

Joseph Maccone has rejoined Virtus Investment Partners as senior managing director and head of strategic distribution. He will be responsible for leading the company's retail distribution and enhancing its strategy for increasing sales in the registered investment advisor channel, among other responsibilities.

What is Thomas Franco's new role at Virtus Investment Partners?

Thomas Franco has been promoted to senior managing director and head of retail sales at Virtus Investment Partners. He will lead the company's external and internal U.S. retail sales teams.

Who will Joseph Maccone and Thomas Franco report to?

Joseph Maccone and Thomas Franco will both report to Barry Mandinach, executive vice president and head of distribution at Virtus Investment Partners.