OppenheimerFunds Reorganizes Retail Retirement Business

March 6, 2009 (PLANSPONSOR.com) - OppenheimerFunds has combined all segments of OppenheimerFunds' retail retirement businesses into one unit and appointed Kathleen Beichert to lead it.

Effective immediately, the company said, Beichert, senior vice president of Retirement Solutions, has been appointed director of retirement, directing the entire Retail Retirement business. Paul Temple and Clint Modler, currently vice presidents and directors of Retirement Distribution, will oversee sales of the Retail Retirement group.

Beichert, who has been at the company since 1995, will continue to manage the IRA and Retirement Income businesses, and now will drive product and marketing innovation through Oppenheimer’s Defined Contribution, Small Business, and 403(b) groups as well. She will report to Richard Knott, president, OppenheimerFunds Distributor Inc. (OFDI).

Temple and Modler, reporting to John McDonough, director of sales, will lead Oppenheimer’s retail retirement sales area, with particular focus on the bundled products and the adviser-focused defined contribution investment only (DCIO) business. Retirement plan consultants as well as the internal sales functions in New York and Denver will report to Temple and Modler.

“As the retirement business continues to evolve, I look forward to the opportunities this position presents,” said Beichert. “In reorganizing the structure of our retail retirement business we will be better positioned within the marketplace to help our investors meet their retirement goals.”