Deals & People September 9, 2010

The Hartford Appoints Reiss Head of Sales

The Hartford Mutual Funds has named Jeff Reiss national sales manager.
Reported by

Reiss, who was previously national sales manager for the wirehouse division, will oversee all sales initiatives of U.S. mutual funds and 529 college savings plans across the wirehouse, registered investment adviser (RIA), independent and bank channels.

In this newly created role, Reiss will report to Jim Davey, executive vice president of The Hartford Mutual Funds (see “Hartford Shakes Up Wealth Management Unit”).

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“Aligning mutual fund sales under Jeff’s leadership renews our commitment to accelerate growth of the fund family and expand market share across all channels,” said Davey.

Reiss joined the firm as a sales coordinator in 1995. In 1996, he became a regional marketing director in the bank channel and subsequently held positions of increasing responsibility including divisional sales manager for a five-state region, and head of east coast sales for mutual funds in the wirehouse channel. He was appointed national sales manager for the wirehouse division in 2008.

Products September 9, 2010

Invesco PowerShares Announces Four New ETFs

Invesco PowerShares has entered into an agreement with Keefe, Bruyette & Woods, Inc. (KBW) for exclusive licensing to four indexes covering the financial services, REIT, and property & casualty insurance market sectors.
Reported by

Invesco PowerShares said it anticipates listing the first of the new ETFs based on these indexes before the end of 2010. The index names and anticipated PowerShares ETF portfolio names are:

  • KBW Premium Yield Equity REIT Index, PowerShares KBW Premium Yield Equity REIT Portfolio;
  • KBW Financial Sector Dividend Yield Index, PowerShares KBW High Dividend Yield Financial Portfolio;
  • KBW Global ex-U.S. Financial Sector Index, PowerShares KBW Global ex-U.S. Financial Sector Portfolio; and
  • KBW Property & Casualty Index, PowerShares KBW Property & Casualty Insurance Portfolio.

“There are many uncorrelated business risks within the financial services sector and these products allow market participants to better make and hedge investments directly into specific sub-sectors,” said John Howard, co-head of research at KBW. 

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