Janus Capital Group announced Friday that Dominic Martellaro, the managing director of its Janus Global Advisors unit, will step down Oct. 31.
The Denver fund company will hand over responsibility for product distribution to its marketing chief and U.S. institutional managing director.
It's the latest personnel change at the company, which is trying to rightsize itself in the wake of a swoon. Like other fund companies, Janus was hurt by investors' rush to the sidelines after the financial crisis and recession. In July, Gary Black, its chief executive, resigned as the asset manager reported that its second-quarter profit fell 76% on lower revenue.
Martellaro will remain with Janus as a consultant until February.
Robin Beery, the chief marketing officer, will take charge of Janus' U.S. intermediary business, which includes products distributed through third parties such as financial advisers and insurers. Dan Charles, managing director of its U.S. institutional business, will assume responsibility for Janus Capital International, its non-U.S. distribution channel.
Beery, a 19-year industry veteran and a member of the company's executive committee, joined Janus in 1994 and has held a variety of leadership positions within the distribution organization. During the past five years she worked with Martellaro on "all aspects of the U.S. intermediary business," Janus said.
Charles, also a member of Janus' executive committee, has overseen its U.S. institutional business since 2007.
