Investment manager Lord Abbett is expanding its reach within the broker-dealer space by increasing the number of wholesalers serving this market. The Jersey City, N.J.-based investment manager added more than 20 regional managers to its existing wholesale team of about 50 regional managers focused on wirehouses, national and regional firms.
The company appointed two partners to lead the outreach effort. Mike Brooks was named Partner, Private Wealth Group - Banks and Independents West, and Tom Malone was named Partner, Private Wealth Group - Banks and Independents East. Brooks will maintain a cross-channel leadership role, including key national relationships, while Malone will continue to lead the firm's internal sales consultant team. Both will report to Bob Noelke, who heads Lord Abbett's national retail sales team. Lord Abbett provides various services to broker-dealers ranging from investment products and intellectual capital to market reports and access to portfolio managers. It traditionally has focused on wirehouse broker-dealers, along with some independents at the likes of Raymond James and Commonwealth Financial Group.