The head of Federated Investors' trust department sales effort has left the firm to take a job in consulting.
Mark R. Gensheimer, a 16-year veteran of Pittsburgh-based Federated, has joined Spectrem Group as director of business development. San Francisco- based Spectrem advises financial services institutions on mergers, investment management, and related businesses.
"This is a natural extension of what I did at Federated," Mr. Gensheimer said of his new job. At Federated, Mr. Gensheimer often advised bank trust clients on selling investments. He said he plans to continue to use those skills at Spectrem.
Mr. Gensheimer said he will work out of Spectrem's New York office and will keep an office near his home in Pittsburgh.
"Mark is a proven business development professional whose consultative skills will help Spectrem's current and future clients diagnose and profitably address important issues and problems in their businesses," said Amy J. Errett, chairman and chief executive at Spectrem.
As a Federated executive vice president, Mr. Gensheimer was responsible for a sales unit that represented half the fund company's $80 billion of assets under management. He supervised about 30 sales representatives who pushed the firm's funds to bank trust departments.
Mr. Gensheimer's department underwent a restructuring in January when Federated's bank and trust sales operations were brought together.
Previously, Mr. Gensheimer had reported to Glen R. Johnson, president of Multitrust Systems, Federated's bank trust product line. Under the new structure, he reported to James F. Getz, president of the company's Federated Securities Corp. unit.
His responsibilities as director of bank trust marketing and sales for Federated have been assumed by Timothy C. Pillion, a senior vice president. Mr. Pillion, in turn, was succeeded by Paul A. Uhlman, vice president of Federated's global accounts group.
