Janus Distribution Exec To Step Down

DENVER (AP) — Janus Capital Group Inc. said Friday that Dominic Martellaro will step down as executive vice president and managing director of Janus Global Advisors, where he oversees distribution of the mutual fund provider's products sold through financial intermediaries.

Martellaro also oversees international sales through subsidiary Janus Capital International.

His departure will become effective Oct. 31, and he will remain as a consultant until February 2010, Denver-based Janus said.

His responsibilities will be passed on to fellow distribution executives Robin Beery and Dan Charles.

Martellaro said in a news release that after nearly three decades in the industry, "I want to take some personal time away from work and travel."

The move comes a month-and-a-half after Janus announced the resignation of CEO Gary Black in what the company called a "mutual decision." Board member Tim Armour replaced Black on an interim basis, while the company searches for a new CEO.

Beery, executive vice president and chief marketing officer, will assume responsibility for Janus' U.S. intermediary business, which includes products distributed through financial advisors, financial intermediaries, insurance companies and retirement platform channels. She will continue to oversee corporate marketing and communications efforts and product strategy.