Babson Capital Management is creating a global business development group and plans to hire new staff over the next few months.
The new group, the global business development group, will be led by Anthony Sciacca, managing director and head of the new group. He is also the head of the firm's middle-market business for its U.S. bank loan team and will retain those duties.
Mr. Sciacca said in an interview that the new group was created in response to customer demand, both from international and domestic institutional investors, he said. The new group will include several existing employees, in addition to the new hires.
Mr. Sciacca said he hopes to have key people in place in the next two to three months. The group expects to hire additional sales, product and marketing professionals.
Existing employees at Babson who will be part of the group and will report to Mr. Sciacca include managing directors Jean Fleischhacker, managing director, global sales, who recently joined from Bear Stearns & Co.; Paula Ryan, managing director, marketing and consultant; and Linda Carstens, managing director, strategic product.
Babson had $109 billion in assets under management as of Sept. 30.