Retirement Industry People Moves

PNC hires Asset Liability Management specialist; Lincoln Financial Group hires Institutional Retirement head; Vanguard explores behavioral finance through investor research center; and more.
PNC Hires Asset Liability Management Specialist
PNC Institutional Advisory Solutions has hired Kimberlene Matthews as senior sales product specialist. Matthews will be tasked with providing asset liability management (ALM) solutions to pension, endowment and foundation clients of PNC’s Institutional Asset Management business.

Matthews brings to PNC 12 years of experience in the financial services industry, with specific attention to the pension space. She most recently served as a pension risk strategist for Northern Trust Investments. She has also held roles in ALM and actuarial retirement consulting with Aon Hewitt and Mercer. She is versed in designing liability-driven investment (LDI) solutions for outsourced chief investment officer (OCIO) clients, as well as developing pension investment strategies for defined benefit (DB) plans.  

Matthews earned her bachelor’s degree in actuarial science and finance from the University of Illinois at Urbana-Champaign and is a CFA charter holder. She is also an Enrolled Actuary and a Fellow of the Society of Actuaries.

NEXT: TRA Acquires Benefit Planning and Administration

TRA Acquires Benefit Planning and Administration
The Retirement Advantage (TRA)—an employee benefits, consulting and technology firm—has announced the acquisition of Benefit Planning & Administration, (BPA) a Pittsburgh-based third-party administrator (TPA). 

"We are pleased the BPA staff joining TRA will be able to continue to provide the exceptional guidance and service their clients have grown accustomed to," says TRA President Matt Schoneman. "BPA has been an innovative leader for decades. Both of our companies have substantial expertise in delivering industry-leading solutions to our clients, built upon a shared commitment to technology innovation, customer service and strong financial and operational discipline." 

Schoneman adds, "The agreement with BPA supports TRA's corporate strategy, with a vision to become the largest independently owned national employee benefits consulting and technology firm and provides an accelerated growth opportunity which will offer us additional marketing opportunities in the Mid-Atlantic region." 

BPA specializes in 401(k) strategies for small to mid-sized companies including retirement plan design, administration and oversight. It was previously affiliated with MacWhinnie Financial Group. 

NEXT: John Hancock Appoints Regan Muldoon as Regional VP

John Hancock Appoints Regan Muldoon as Regional VP

With more than 10 years of experience in the financial services industry, Regan Muldoon of John Hancock has recently been appointed as regional vice president in the firm’s Southeast division.

Having worked at John Hancock since 2008, Muldoon previously served as internal sales manager and business development director in the Southeast division, but will now hold responsibility for sales and relationship development concerning financial representatives and plan consultants in North Georgia and East Tennessee. Muldoon will also be reporting to John Hancock Vice President Joe Smith.

"In the last eight years, Regan has been instrumental in the growth and success of our Southeast sales division," says Bob Carroll, national sales manager at John Hancock. "Given the changing landscape in the retirement plan industry, her expertise will continue to bring value to our clients and partners."

NEXT: Lincoln Financial Group Hires Institutional Retirement Head

Lincoln Financial Group Hires Institutional Retirement Head

Gregg Holgate has joined Lincoln Financial Group as senior vice president and head of Institutional Retirement Distribution (IRD) for its Retirement Plan Services (RPS) business. He will be responsible for expanding the firm’s full-service retirement plan offerings for corporate and nonprofit/tax-exempt plan sponsors. He will also focus on supporting the overall strategic vision of the business, which includes helping participants achieve the retirement they envision, as well helping plan sponsors recruit and retain top talent.

Holgate brings to the firm more than 20 years of experience working with plan sponsors on retirement plan solutions. He comes from Voya Financial, where he most recently served as senior vice president of Institutional Clients. In that role, Holgate created and led a senior team of sales and relationship management professionals responsible for consultant relations, sales, retention, government affairs, and reporting.

“Lincoln remains committed to the full-service retirement plan business,” says Jamie Ohl, president of RPS. “Gregg has a proven track record as a successful sales leader with a wealth of retirement industry knowledge and experience. He understands the market, the clients and what they need and will be a strong addition to the RPS senior leadership team and to Lincoln.”

Holgate earned his bachelor’s degree from Arizona State University and holds series 7, 24 and 66 FINRA registrations.

NEXT: Bogdahn Group Rebrands

Bogdahn Group Rebrands

The Bogdahn Group, an institutional investment consulting firm, announced that it has rebranded to AndCo Consulting.

“We have always sought to set the highest standard for what true independence should look like in our industry,” says Mike Welker, chief executive officer at AndCo Consulting. “With this name change, we hope to further demonstrate our commitment to maintain our core practices of independence, objectivity and transparency, and that we will always put clients first. Our new name will be a constant reminder that we can never compromise our core service tenets or do anything that violates where we put our clients in the service equation. Without our clients, we are incomplete. We believe putting clients first leads to an enhanced client service experience and the ability to deliver tremendous value.”

Headquartered in Orlando, Florida, with offices around the country, AndCo Consulting offers a full range of investment consulting services for multiple types of institutional plans including defined benefit (DB), defined contribution (DC), taxable and tax-exempt deferred compensation, OPEB, VEBA, operating reserves, endowment and foundations.

NEXT: Vanguard Explores Behavioral Finance Through Investor Research Center

Vanguard Explores Behavioral Finance Through Investor Research Center  

Vanguard has opened its Center for Investor Research (CIR), an enhancement of the company’s efforts to drive investor success through behavioral research and experimentation.

Initially dedicated to study of the behavior of individual investors, CIR will examine how investors make decisions through observational studies based on Vanguard’s administrative data and the growing pool of digital interactions. Vanguard says The Center will also design experimental interventions—or “nudges”—to directly improve investor outcomes.

“Ultimately, Vanguard’s mission is to propel better investor outcomes,” says Steve Utkus, principal and head of the Center for Investor Research. The Center will take a data-driven, scientific view of investor behavior, and transform this knowledge into practical application. Our research agenda will advance our understanding of the fundamental nature of investor decision-making and uncover strategies to improve the financial lives of our investors.”

CIR is an evolution of the Vanguard Center for Retirement Research. Founded in 2001, it is recognized for its proprietary research covering developments in the defined contribution (DC) space, plan participant behavior, and retirement plan design.

“We know that successful investors exhibit smart behavior—they keep costs low, diversify their portfolio, and refrain from trading,” says Vanguard CEO Bill McNabb. “Investor behavior is at the heart of successful outcomes, and the aim of our new Center is to advance the case for better investor outcomes through research and experimental techniques in an increasingly digital world.”

- Javier Simon and Amanda Umpierrez