Virtus Investment Partners Inc. has hired former UBS executive Jeffrey Cerutti to run the Hartford wealth manager’s retail distribution channel.
Cerutti’s hiring as executive vice president and head of retail distribution is effective June 1.
He will be responsible for distribution efforts of its retail investment products, including the Virtus Mutual Funds and separately managed accounts, the company said. Â Cerutti will oversee Virtus’ retail sales force and manage its relationships with its retail product distribution partners, which include national, regional and independent broker-dealers and registered investment advisors. Â
In 2009, Virtus had gross sales of $2.8 billion for its long-term mutual funds, and $1 billion for separately managed accounts.
In the 2010 first quarter, Virtus had gross long-term mutual fund sales of $989 million and separately managed account sales of $117 million.
Cerutti joins Virtus from UBS Global Asset Management, where he led the distribution efforts of their mutual funds, separately managed accounts and alternative investments. Â He joined UBS in 2001.
Cerutti, who currently lives in Mount Kisco, N.Y., is a 1990 graduate of Skidmore College.
