Carey leaves Oppenheimer too

OppenheimerFunds Inc. has lost its head of distribution just five months after he joined the firm.
FEB 07, 2010
OppenheimerFunds Inc. has lost its head of distribution just five months after he joined the firm. On Jan. 22, William C. Carey, a former president of Fidelity Investments' registered investment adviser and retirement services business, left OppenheimerFunds for personal reasons, said Jeaneen Pisarra, a spokeswoman for the firm. She added that Mr. Carey had been commuting from Boston to the firm's New York offices. OppenheimerFunds has not decided if it will replace him. Before joining OppenheimerFunds in September, he was managing director of distribution and relationship management for Fidelity's institutional retirement, philanthropy and investments division. Mr. Carey's departure comes as a blow to OppenheimerFunds just as it was trying to get out from underneath months of bad performance in its bond funds and a number of lawsuits from states over its Section 529 plans, experts said. The company's bond funds declined an average of 29% in 2008, compared with a 7.9% average decline for all bond funds, according to Morningstar Inc. E-mail Jessica Toonkel Marquez at [email protected].

Latest News

Barred advisor forged wife’s signature on life insurance contracts, according to FINRA
Barred advisor forged wife’s signature on life insurance contracts, according to FINRA

Thrivent Investment Management Inc. in May fired Nicholas Hale, according to his BrokerCheck profile.

Raymond James lands $18.7B Synovus team as LPL adds UBS breakaways
Raymond James lands $18.7B Synovus team as LPL adds UBS breakaways

About 70 bank and credit union advisors move to the Raymond James platform, while a $480M New Jersey team goes independent with LPL

Tax-aware investing should expand client choices, not constrain them 
Tax-aware investing should expand client choices, not constrain them 

The best tax plan asks not only how much a client could save, but what they would have to give up to save it. 

Merrill veteran Jonathan Stogsdill joins Trinity Wealth Advisors in St. Louis
Merrill veteran Jonathan Stogsdill joins Trinity Wealth Advisors in St. Louis

A 20-year financial services veteran brings values-driven planning expertise to the St. Louis-based RIA.

SEC enforcement against public companies hits record low under Atkins
SEC enforcement against public companies hits record low under Atkins

New research shows a 71% plunge in actions in fiscal year 2026, with total settlements the lowest since the database began.

SPONSORED Best Practices for Engaging Women Around Alternatives

Growing wealth, evolving priorities, and untapped opportunities are reshaping how women approach long-term investing.

SPONSORED Built on insurance experience to deliver on long-term promises

Knighthead Life entered the market with a competitive MYGA. A strong launch earned advisor confidence and paved the way for FIAs.