F-Squared Investments Names Carey President of Retirement Solutions

May 17, 2011 (PLANSPONSOR.com) – Investment management firm F-Squared Investments has named former Fidelity and Bank of America executive Bill Carey to head its newly formed retirement division. 


Carey, who joined the firm this week as President of F-Squared Retirement Solutions, will be responsible for F-Squared’s customized, private labeled Target Date strategies and funds, as well as Collective Trust Funds and other investment solutions.  According to the announcement, those strategies will feature the firm’s AlphaSector investment solutions “plus a Dynamic Asset Allocation overlay to deliver Target Date solutions that are designed to meaningfully “de-risk” in bear markets while still maintaining superior participation in normal bull markets”. 

Carey was previously President of Fidelity Investments’ 401(k) business and Bank of America’s Head of Institutional Retirement, as well as head of distribution at OppenheimerFunds (see Oppenheimer Brings on board Carey and Willis). 

Partner Shifts 

According to a press release, under Carey’s direction, F-Squared will seek to partner with financial services firms that have a product and distribution commitment to the retirement market, and then develop customized, private labeled Target Date offerings that “capture the best of F-Squared’s proven AlphaSector risk management capabilities coupled with the investment strengths of the partner firm”.   

“We plan to offer firms a next generation solution that can provide financial services and investment firms an immediate and differentiated entree into the retirement market and the $2 trillion in assets expected to be allocated to Target Date funds by 2015,” Carey said.  “While Target Date funds are here to stay, the failure to meet client expectations of asset protection in 2008 exposed some flaws with so-called ‘first generation’ Target Date funds,” he continued, noting that “The next generation solution needs to be able to protect client assets during severe market downturns. F-Squared’s investment offerings and unique business model is the perfect platform to deliver such a solution.” 

“F-Squared has been receiving requests from clients to enter the retirement market for nearly two years,” said Howard Present, Chief Executive Officer of F-Squared.  “The final piece of the puzzle for us to launch was to identify a proven industry leader to take the helm. We believe we found that leader in Bill Carey.”   

“Bill understands and is in tune with the market, has already built a multi-billion dollar business, and knows how to leverage F-Squared’s product capabilities and business model to build out a world-class retirement company,” Mr. Present said. “We are very excited to add Bill to the F-Squared team.” 

F-Squared Investments, based in Wellesley, Massachusetts, is an SEC registered investment adviser offering a range of investment solutions offered through sub-advised mutual funds, separate accounts, and institutional accounts.  Additional information is available at http://www.f-squaredinvestments.com