Seeking to beef up its presence with bank brokerages, Federated Investors has snared a top salesman from a rival mutual fund company.

The Pittsburgh-based company has hired Craig Howard, the former head of the bank division at Colonial Group, Boston, to oversee its sales efforts to banks in the West. Mr. Howard's hiring is the latest in a string of moves Federated has made in an effort to increase its presence on the retail side at banks.

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