Segal Rogerscasey to Acquire Marco Consulting Group
Investment consulting business Segal Rogerscasey has signed an asset purchase agreement to
acquire the business of Marco Consulting
Group (MCG), effective January 1, 2017. MCG provides investment
consulting to U.S. multiemployer benefit plans. The new firm will be known as Segal Marco Advisors and have combined investment advisory assets exceeding $500
Segal Marco Advisors expects to employ approximately 150
investment, consulting and research professionals to serve more than 400 clients.
John DeMairo, Segal Rogerscasey president and CEO, will continue in this role at the new firm. MCG co-founders Jack Marco and Tom
Mitchell Sr. will serve as advisers.
Segal Marco Advisors will be headquartered in New York
City and maintain what The Segal Group terms “a significant presence in Chicago,
operating out of the current MCG office.” In addition, it will have offices in
Atlanta, Boston, Chicago, Cleveland, Dallas, Denver, Los Angeles, Seattle, and
Darien, Connecticut, as well as Toronto and Dublin.
“In the many years we’ve competed with MCG, we have always
been impressed with its people and investment solutions,” says DeMairo. “Combining
our strengths will not only be good for our clients but will also make us more
competitive in our chosen markets.”
Mitchell points to the value of both firms being privately
held, which will allow the combined entity to retain client focus, he says.
NEXT: VALIC Expands Leadership Team
Expands Leadership Team
VALIC, a retirement plan provider
for various not-for-profit organizations, expanded its senior leadership team with two new hires: Barbara Rayll joins as vice president of product and solutions
management, and Steve Smith comes to the firm as managing vice president of business
In her newly created role, Rayll will oversee VALIC’s
current product portfolio, and seek to develop new and innovative products,
services and solutions as the company’s client base expands. She reports to Eric Levy, executive vice president.
She joined VALIC from Lincoln Financial after a 15-year
tenure. She is a graduate of Boston College.
Smith will be responsible for leading new group acquisition
efforts in the Eastern U.S., plus oversee retention of key groups in this
territory. He reports to Glenn Harris,
executive vice president of institutional group management. Having more than 30
years’ experience, Smith most recently served as divisional vice president of sales
management at Transamerica. He is a graduate of Miliken University.
“Barbara and Steve are key hires for VALIC,” says Levy. “They each bring a wealth of
experience to our leadership team and will serve critical roles as we improve
our product portfolio and drive acquisitions and growth.”
NEXT: Pavilion to
Pavilion to Attain
Investment services firm Pavilion Financial Corporation announced an agreement to purchase Jeffrey Slocum & Associates in an
effort to combine both businesses.
The transaction, expected to close in the coming weeks, will
allow Pavilion to syndicate Slocum with its institutional investment consulting
subsidiary in the U.S. Pavilion Advisory Group. The Slocum team will also work
under the Pavilion name in Minneapolis, its current office.
combined team will have the resources and expertise to lead the industry across
a wide range of areas such as health care, insurance and retirement benefit consulting,”
says Daniel Friedman, president and CEO
of Pavilion Financial Corporation. “The combined resources and
research-driven knowledge will allow the advisery teams to enhance their
offering to both Pavilion and Slocum clients and to expand the quality advice
and solutions they are seeking.”
A significant number of Slocum’s senior management team,
consultants and researchers are said to become shareholders in Pavilion and
will continue to hold leadership roles in the joint business.NEXT: Wagner Law
Group Adds New Partner
Wagner Law Group Adds
Employee Retirement Income
Security Act (ERISA) and employee benefits attorney
Bruce McNeil joined The Wagner Law
Group, which specializes in the practice of employee benefits law and ERISA,
as a partner.
McNeil is noted as an
expert in the area of nonqualified deferred compensation and has testified in
that capacity before the U.S. Senate Committee on Finance on executive
compensation matters. He has authored 28 books, including 17 editions of
“Nonqualified Deferred Compensation Plans,” “Tax-Sheltered Annuities Under
Section 403(b) and Nonqualified Section 457 Plans,” and “Employee Benefits in
Mergers and Acquisitions.” Additionally, he has written or co-written more than
80 articles about employee benefit issues. He is a Fellow of the American College
of Employee Benefits Counsel and editor-in-chief of both the Journal of Pension
Planning & Compliance and the Journal of Deferred Compensation.
A member of the bar in
multiple jurisdictions, McNeil is also admitted to practice in the U.S. Supreme
Court and the U.S. Tax Court, as well as several courts of appeal and district
courts. He has been an adjunct professor of law at the University of Minnesota
Law School and formerly was a shareholder with the law firm of Littler
Mendelson P.C. in Minneapolis. He served with the Employee Plans Technical and
Actuarial Division of the Internal Revenue Service (IRS) in Washington, D.C.
McNeil received a
bachelor’s degree from Concordia College, a doctorate in Jurisprudence from
Drake University Law School, a master’s degree in law from Georgetown
University Law Center and a master’s degree in English from Georgetown
NEXT: McDermott Will
& Emery Welcome Two New Partners
McDermott Will &
Emery Welcome Two New PartnersVoya Announces Organizational Changes
International law firm McDermott
Will & Emery have welcomed Steven
Eckhaus and Evan Belosa to the
firm as partners in its New York
office. Both will serve the Employee Benefits, Compensation, Labor &
Employment Practice Group.
Eckhaus will lead the practice group in New York. In his
previous firm, he created and led the executive compensation practice. His
career has seen him representing executives in large compensation deals,
advising decision makers on employment matters, and litigating contract
disputes. He has been recognized by Chambers (USA), The Legal 500, and most
recently by Human Resource Executive as one of 20 Most Powerful Employment
Lawyers in Employee Benefits and ERISA.
Belosa has served numerous positions including litigator,
negotiator and counselor covering all aspects of executive employment and
compensation matters. He also represents institutions in all stages of the
employer/employee relationship, with an emphasis on employment agreements,
separation agreements, equity and deferred compensation plans and restrictive
“We are delighted to welcome this talented team to
McDermott,” says David E. Rogers, head
of the firm’s Employee Benefits, Compensation, Labor & Employment Practice
Group. “With today’s heightened scrutiny of compensation pay practices, and
the Dodd-Frank Act requiring the Treasury, Federal Reserve, FDIC, SEC, and
other agencies to implement regulations and guidelines for incentive-based
compensation practices at covered financial institutions, many of which are
centered in New York, having a top-flight employee benefits and executive
compensation team in New York City is an indispensable asset.”
Voya Financial announced that it has restructured its Insurance Solutions business, which now contains an Annuities segment in addition to Individual Life and Employee Benefits. New professionals are also joining the firm to spearhead this division and others at Voya.
Carolyn Johnson, who has previously led Voya’s Annuities business and Tax-Exempt Markets business, will now serve as CEO of Insurance Solutions. She is also joining the Executive Committee. Johnson will continue to report to Alain M. Karaoglan, CEO of Voya Financial.
“Our Annuities and Individual Life businesses have achieved higher returns; introduced more profitable and less capital-intensive product portfolios; and secured strong relationships with our distribution partners,” says Karaoglan. “As we look to best leverage the strengths of both businesses – while best allocating Voya’s overall capital so that we can focus on the areas of highest return and customer value – the sharing of resources among these businesses will provide us with greater agility and flexibility. Bringing Annuities and Individual Life – in particular – more closely together also reflects the growing convergence of distribution for these products. We remain committed to the profitable growth of Annuities and Individual Life, and we are very fortunate to have Carolyn now leading Insurance Solutions.”
Maggie Parent will join Voya on Oct. 3, 2016, as executive vice president of Technology, Innovation and Operations. She joins Voya from Deutsche Bank AG, where she most recently served as managing director. In her newly created position, Parent is tasked with driving a focus on innovation throughout the company, as well as aligning Voya’s Technology and Operations teams to meet customer needs.
Nan Ferrara has been promoted to executive vice president of Operations and Continuous Improvement (CI). She will cover the overall growth strategy and performance of Voya’s Operations organization, as well as the company’s CI efforts. Under Ferrara’s leadership, the CI management system is being integrated across the company.
Previously, Ferrara held the title of senior managing director of Operations for Voya, providing oversight of the Operations strategy. Ferrara’s more than 20 years of experience in the financial services industry also includes leading the divestiture separation team at AIG.
Voya’s most recent additions come ahead of previous changes in leadership regarding the firm’s overall retirement services business.
“The appointments we’re announcing today demonstrate our commitment to ensuring we have outstanding and talented leaders who can help us execute our strategy, achieve our financial targets and – equally important – realize our vision to be America’s Retirement Company,” says Voya Financial Chairman and CEO Rodney O. Martin, Jr. Martin. “Building on our financial, cultural and operational success over the past few years, we continue to raise the bar in terms of achieving higher levels of performance, anticipating and meeting our customers’ needs, and delivering greater shareholder value. Having Carolyn, Maggie and Nan join our Executive Committee brings additional backgrounds, experiences and knowledge to the team, and this benefits all of our stakeholders.”
- Karen Wittwer, Amanda Umpierrez, Javier Simon