LoCorr nominates three indies as part of expansion to eight trustees

Nominees bring decades of distribution and wealth management experience

The board of the LoCorr Investment Trust has asked shareholders to elect three new trustees with distribution experience as part of a board expansion.

If elected at a Jan. 23 shareholder meeting, Dan T. O’Lear, Jeff E. Place and Catie B. Tobin will increase the board’s membership from five to eight and become the board’s first new independent members since 2016.

O’Lear, 61, retired in 2021 after a 25-year career at Franklin Templeton Distributors, culminating in a stint as president from 2018 to 2021. He previously worked as a sales manager at Kemper Funds from 1992 to 1996.

Place, 69, is the owner and founder of Bespoke Distribution Solutions LLC, a consulting firm that specializes in investment fund distribution. In addition to founding Bespoke in 2017, he was head of US distribution for Universal Access Funds from 2017 to 2020 and was head of sales at Ivy Investments.

His previous experience includes sales positions at AllianceBernstein Investments, WM Funds Distributor, Inc., Liberty Funds Distributors, and Putnam Investments.

Tobin, 64, retired in 2021 as senior vice president and director of field development and effectiveness at Wells Fargo Advisors. Prior to joining Wells Fargo in 2017, she had a 24- year career at RBC Wealth Management, where she led the US wealth consulting division.

The board’s incumbent independent trustees include Gary Jarrett, 68; Mark A. Thompson, 63; and Ronald A. Tschetter, 81.

The board’s interested trustees are Joe Essen, CFO and portfolio manager at LoCorr Fund Management, and Kevin Kinzie, founder and CEO of LoCorr. Kinzie also serves as the board chair.

Brian Hull is CCO of the funds.

The board, which oversees five funds including the $2.2bn LoCorr Macro Strategies Fund and the $1.2bn LoCorr Long/Short Commodities Strategy Fund, maintains an audit committee as its sole standing committee.

Total compensation for independent trustees was $60,000 during the fiscal year ended Oct. 31, 2022, but trustee salaries will be raised to $80,000 in the coming year, according to filings.

Dan T. O’Lear
  • President, Franklin Templeton Distributors, 1996 – 2021
  • National accounts manager, Kemper Funds, 1992 – 1996
Jeff E. Place
  • Founder/CEO, Bespoke Distribution Solutions LLC, 2017 – Present
  • Head of US distribution, Universal Access Fund, 2017 – 2020
  • Head of sales, Ivy Investments, 2008 – 2016
  • Western U.S. sales manager, AllianceBernstein Investments, 2006 – 2007
  • Head of sales, WM Funds Distributor Inc, 2002 – 2006
  • Managing director – Wealth strategies group, Liberty Funds Distributors, 1998 – 2001
  • Divisional sales manager, Putnam Investments, 1991 – 1996
Catie B. Tobin
  • Director – Field development and effectiveness, Wells Fargo Advisors, 2017 – 2021
  • Head of US wealth consulting, RBC Wealth Management, 1992 – 2016