Bill Ryan to Join Carlyle as Managing Director, Head of Retirement Solutions

Bill Ryan

Former NEPC Partner Bill Ryan is joining the Carlyle Group as managing director and head of retirement solutions on January 5, 2026, according to an internal Carlyle memo obtained by PLANSPONSOR and according to information from Ryan. Ryan departed his role at NEPC on December 12.

In the newly created role, Ryan will help lead development of the firm’s retirement capabilities and offerings, reporting to Amal Alibair, Carlyle’s head of North America client business.

“I’ll be focused on bringing the best of Carlyle to defined benefit and defined contribution plans around the world, with an immediate focus on seeing where we have an opportunity to add them to 401(k) plans in the next 12 to 18 months of my initial mandate,” Ryan says.

Ryan says he will remain in Chicago, but will be tied to Carlye’s Washington, D.C. office.

Ryan was a partner in and defined contribution leader at NEPC, where his team designed and implemented DC solutions for more than 155 plan sponsor clients managing approximately $600 billion in retirement assets.

Prior to NEPC, Ryan led Aon’s North America DC multi-asset solutions team, working with plan sponsors on target-date evaluations, custom portfolio design and retirement income solutions. Before joining Aon, Ryan served as a director in the University of California’s office of the chief investment officer, where he oversaw the university’s $20 billion DC program.

Ryan also advises several organizations with interests in defined contribution plans, serving on the U.S. Department of Labor’s ERISA Advisory Council, the Plan Sponsor Council of America Investment Committee and as the chair of the Investment Consultant Advisory Council for the Defined Contribution Institutional Investment Association.

“I’m really excited about how humble and pragmatic [Carlyle is] about bringing private market solutions to the 401(k) plan,” Ryan says. “I feel it’s going to be an alignment of interest for what’s important to my core being and how Carlyle wants to approach bringing solutions to the retirement industry.”