Chicago Marketer Plans to Beef Up Staff

Talbot Financial Services, a third-party marketer in Chicago, is adding staff members to court community bank clients.Talbot is seeking executives to lead business development, as well as implementation of and training for platform programs in its banking channel, said Connie C. Cebula, senior vice president in charge of marketing and operations. The company also expects to hire additional salespeople to serve new bank clients as needed, she said.

"We're actively working on pursuing the mid-market bank channel," Ms. Cebula said. "While it's wonderful to be in large bank programs, we understand they may choose to move [programs] in-house or change the amount of business they want Talbot to do," Ms. Cebula said.

Talbot is also hiring two external wholesalers dedicated to insurance agencies. Six wholesalers that currently work with both broker-dealers and insurance agencies will work exclusively with broker-dealers next year.

Banks will account for nearly 65% of Talbot's revenues in 1999, compared with about 35% last year, Ms. Cebula said. The company has over 50 bank clients.

- Amy L. Anderson

Franklin Names Head Of Distribution Unit

Franklin Resources Inc. of San Mateo, Calif., has made two executive changes in its mutual fund distribution arm.Peter Jones, 44, succeeded Gregory E. Johnson last week as president of Franklin Templeton Distributors Inc., which includes the financial institutions, wire house, and financial adviser channels. Mr. Jones had been executive vice president and director of sales for the financial adviser division.

Daniel T. O'Lear, 38, succeeded Mr. Jones as director of sales for the financial adviser division and will continue as sales director of the wire house and regional brokerage firm channels. The channels will remain separate, a spokeswoman said.

The changes were announced roughly three weeks after Mr. Johnson was promoted to a newly created position in the office of the president.

Franklin had more than $224 billion of assets under management on Nov. 30, the company said.

- Cheryl Winokur

Fla. Firm Completes A Pair of Acquisitions

Multitech Brokerage Solutions Inc. of St. Petersburg, Fla., has completed the first two of a series of acquisitions.On Dec. 6, Multitech bought American Brokerage Consultants, also in St. Petersburg, and Buttonwood Business Systems of Charlotte, N.C. Terms of the deals were not disclosed, but Dan D. McConnell, an executive vice president at Multitech, said the deals were paid for mostly with stock.

Multitech, a holding company for financial service vendors, plans to create a consortium of companies that cater to the financial services market by buying firms that specialize in clearing, training, consulting, asset management, and mutual fund processing.

- Amy L. Anderson

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