Two former executives at Nicholas-Applegate Capital Management started their own money management marketing and consulting firm. InvestorReach will provide marketing, distribution and product development help to firms trying to expand into channels including broker/dealers, banks, 401(k) plans and fund supermarkets.
The firm is headed by Ashley Rabun, former president of Nicholas-Applegate's mutual funds and director of the firm's investor services group, and Cathy Urbelis, former director of communications and head of marketing for the investor services group. Ms. Rabun was replaced by John Wiley and Ms. Urbelis' duties were assumed by other staff members.
BankBoston's Global Foreign Exchange Group today announced it formed a Latin America unit to develop products for institutional clients. Six staff members will handle all aspects of foreign exchange, including market risk management, deal execution, sales, trading, marketing, credit and operations and systems. Pedro Piedra heads the unit.