Pioneer Promotes Global Sales Head and Reorganizes Executive Management Team

DUBLIN, Ireland (HedgeWorld.com)--Pioneer Investments is making a worldwide sales and distribution push in a number of key appointments within the company that includes a 3.8 billion euro (US$5.1 billion) hedge fund business.

The first appointment was the naming of Giordano Lombardo deputy chief executive. Mr. Lombardo was one of the founders of Pioneer Investments and was global chief investment officer for the traditional investment business.

He will work alongside Chief Executive Dario Frigerio in running the group and will be responsible for managerial activities including investments, operations and commercial activities.

In a further change to the executive management team, Marco Onado was appointed to the board of Pioneer Global Asset Management and will become chairman. Mr. Onado is a European economist and specialist in the fields of banking and financial services, Pioneer officials said in a press release.

At the same time, Pioneer promoted Matteo Perruccio to handle all worldwide sales and distribution activities. Previously, Mr. Perruccio was responsible for distribution outside of the United States and in Europe, in addition to heading up the firm's Italian business since late 2002.

"I believe a global approach to our distribution activities is now essential," said Mr. Lombardo, in a statement. "We know that our clients and business partners require us to be aligned globally for consistent, coordinated communication wherever we are talking to them."

Mr. Perruccio will focus on Pioneer's global institutional business, which is a key development area for the company in the next few years. Officials said that opportunity was created to offer a range of high alpha and alternative products that possess "undeniable institutional appeal."

The alternative investment business at Pioneer is headquartered in Dublin with offices in London, Milan and New York. The firm offers a series of single-strategy hedge funds and funds of funds.

Contact Bob Keane with questions or comments at: bkeane@investmentadvisor.com.

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