The Armada Funds have a new head of distribution. National City Institutional Asset Management, the funds' advisor, named Timothy M. Mahoney to the post of Head of distribution for the 30 fund, $15 billion Armada Funds complex.

Until last Friday, Mahoney had been a senior vice president and senior managing director of Third Party Distribution at PFPC, Inc., where he was responsible for delivering sales consulting and wholesaling solutions to expand investment product distribution. He also served on the board of directors of PFPC Distributors. Before joining PFPC, Mahoney held senior positions at KeyCorp and several brokerage firms.

"We have not replaced him," said Jeanette Harrison-Sullivan, a spokesperson for PFPC. She added that PFPC is "considering a replacement" for Mahoney.

At National City, Mahoney will be responsible for extending the reach and depth of investment management products to affiliated third-party intermediary distribution channels, according to bank officials.

Ted Parker, executive vice president and head of the Institutional Asset Management business at National City, said that the channel is a "tremendous growth opportunity" if the bank can penetrate further into inside and outside distribution channels.

"Tim has a proven track record of building, leading and expanding retail investment programs, and we are excited to welcome him to National City," Parker said " His expertise in developing partnerships will enable us to grow our investment distribution and deliver comprehensive financial solutions to our clients."

"We are committed to reinvesting in this business, and this is the next step in our success strategy," Parker continued. "Bringing Tim to our team complements the recent enhancements we have made. These include the recent additions of new equity teams in Pittsburgh and St. Louis and a new head of client services, sales, retirement plan services and product management activities. We believe this new strategy positions National City Institutional Asset Management for great success in the future." 

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