National City Corp. this week named Carole Fenstermacher as a sales manager for its retirement planning services.
Ms. Fenstermacher, who was hired from Manufacturers and Traders Trust Co. in Buffalo, is filling a new position. The hiring represents the bank's bid to develop its retirement services business, according to William L. Roland, senior vice president for retirement plan services. "We have invested in the business both from the perspective of operational quality (and) client service, and we've expanded our products and feel that this is an appropriate time to market those very competitive products," said Mr. Roland.
Ms. Fenstermacher will manage a seven-member sales team, which had previously reported to regional managers.
Cleveland-based National City operates in Ohio, Kentucky, Indiana, and Pennsylvania. The bank services roughly $14 billion in retirement assets, although not all the money is actively managed by National City.
The bank serves many types of retirement plans, including those that use mutual funds and others where individual assets are more suitable, said Mr. Roland.