With the hire of Michael Petko as their new executive vice president and national sales manager, Transamerica IDEX funds are taking their distribution efforts in a different direction.

The surprise here is that Richard Cardall, formerly the senior vice president of mutual funds, stayed on at the firm with a new title as western divisional sales manager.

The skinny is that two weeks ago Transamerica was in the process of closing a deal with one of the five major wirehouses. However, the focus now seems to have shifted to smaller platforms.

Petko is optimistic about the future, though. "You're going to see some good things in the future," he told The MFWire in an interview. "We want to make a statement and become a dominant force in the market and gain scale, I think we have the people in place to get to the next level." 

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