Griffin Capital Company announced that its dealer-manager, Griffin Capital Securities, added three senior members to its distribution team with the hiring of Jed Brody as senior vice president and head of internal sales, Neel Patel as vice president and senior national accounts manager responsible for expansion of the company’s wirehouse and bank channels, and Scott Street as vice president and head of due diligence for the full suite of alternative investment products managed, sponsored and co-sponsored by the firm.
These additions come on the heels of Griffin Capital’s restructuring of its distribution team toward a channelized distribution model in which it segregated its sales team with one group covering the independent broker-dealer market and the other the wirehouse and registered investment advisor channels.
“As we continue to penetrate the wirehouse and RIA channels and continue to serve our long term independent broker-dealer partners, the distribution process has become more complex, demanding and sophisticated,” commented Kevin Shields, chairman and CEO of Griffin Capital. “It is clear to us the sales process and our approach must be more consultative. Over the past year we made significant strides to enhance the service we deliver to our valued financial advisors and their clients – from senior sales management all the way through the internal desk. Our execution was imperative and directionally we are well positioned to better serve our clients going forward.”
Brody spent the past six years developing an internal sales team with National Life Group, where he served as associate vice president, Salesforce and CRM distribution lead. At Griffin, Brody oversees internal wholesalers and is responsible for the rollout of new technology tools.
Patel is charged with expanding Griffin’s distribution within the wirehouse channel and serves as a senior national account manager dedicated to wirehouse, bank and regional firms. Prior to Griffin, Neel served as director of alternative investments at Ameriprise Financial.
Street, a chartered financial analyst, leads a team of due diligence professionals and manages the process to provide information about Griffin Capital’s product platform to the broker-dealer and analyst community. He will also play an important role in the development of new products. Street previously held the position of director of product and due diligence at KBS Capital Markets Group.
Griffin Capital Securities’ current offerings include two interval funds (Griffin Institutional Access Credit Fund and Griffin Institutional Access Real Estate Fund), two non-traded REITs (Griffin Capital Essential Asset REIT II and Griffin-American Healthcare REIT IV), and one private offering (Phillips Edison Grocery Center REIT III). The private Phillips Edison offering is seeking to raise up to $220 million in equity prior to launching as a public, non-traded REIT, which will then seek to raise another $1.7 billion, according to registration filings with the US Securities and Exchange Commission.
Griffin Capital is an alternative investment asset manager with approximately $9.5 billion in assets under management. The firm manages, sponsors or co-sponsors a suite of investment programs distributed by Griffin Capital Securities to retail investors through a community of partners, including independent and insurance broker-dealers, wirehouses, and registered investment advisory firms.