Kevin J. Callahan was named a senior vice president and director, institutional clients, at Duff & Phelps Investment Management, said Joe Fazzino, a spokesman for parent company Virtus Investment Partners.
The position is a new one at Duff & Phelps, where institutional clients account for roughly $2.5 billion, or 30%, of the company's $8.6 billion in assets under management as of Dec. 31, said Mr. Fazzino.
Mr. Callahan was a vice president and senior consultant relations manager at ING Investments. He was replaced by Conor Sullivan, who joined ING in October from UBS Global Asset Management, where he served as a director, consultant relations, said Annette Bronkesh, a spokeswoman for ING.
Mr. Fazzino said Mr. Callahan's consultant relations background will help strengthen Duff & Phelps' institutional prospects. While the company's has had “tremendous growth” on the retail side, hiring a specialist to focus on products such as Duff & Phelps' global infrastructure and REIT strategies is a sign the company sees room to grow its institutional business as well, he said.
In a telephone interview, Mr. Callahan said while many consultants might be aware of at least one of Duff & Phelps' strategy, he'll work to build a better appreciation among consultants and plan sponsors alike of the firm's strengths in global REITs, globally listed infrastructure and taxable fixed-income strategies.