Retirement Industry People Moves

TIAA Hires New President; Mass Mutual Appoints Community Responsibility Director; Mercer Acquires Thomsons Online Benefits; and more.


TIAA Hires New President
Vijay Advani has joined TIAA Global Asset Management as the firm’s new president and chief operating officer. He officially assumes these roles on January 9, 2017. Advani will lead global distribution as well as drive technology and analytics initiatives for portfolio management and product development.
Advani will also lead management committees charged with ensuring the firm continues offering a client experience that integrates distribution, solutions and marketing.
He will report to Rob Leary, CEO of TIAA Global Asset Management. He will work closely with Leary and other senior leaders to design and drive strategy for the firm.

Advani joins from Franklin Templeton Investments, where he was co-president. In that role, he was responsible for long-term strategic initiatives, investment management and trading, as well as global retail and institutional distribution. With more than 20 years of experience in the industry, Advani has specialized in product development, client relationship and marketing roles in Asia, Eastern Europe and Africa. He also served as president of Templeton Asset Management, India. Prior to joining Franklin Templeton, he spent 11 years at the International Finance Corporation, the World Bank Group unit responsible for helping governments develop securities and financial markets.

NEXT: Mass Mutual Appoints Community Responsibility Director

Mass Mutual Appoints Community Responsibility Director

Dennis Duquette has returned to Massachusetts Mutual Life Insurance Company as the firm’s new head of community responsibility and president of the Mass Mutual Foundation. Duquette launched his career with the company when he joined as a member of its community relations team.

In his new role, Duquette will lead MassMutual’s community engagement efforts including such initiatives as the FutureSmart program, which helps young people hone their financial-literacy skills; LifeBridge, which provides income-eligible families with free term life insurance that protects their children’s education; and Mutual Impact, the company’s employee giving program.

Duquette enters this new role with more than 30 years of experience in the financial services industry under his belt. His expertise includes oversight of community relations and brand development. He will be based in the company’s Springfield headquarters and report to MassMutual Head of Brand and Advertising Jennifer Halloran.  

Prior to joining MassMutual, Duquette was with Fidelity Investments where he expanded Fidelity’s corporate presence and sponsorships across the United States, and managed FidelityCares, an employee volunteerism program that also provides philanthropic support to non-profit organizations.

Duquette earned his master’s degree in public policy and administration from Northwestern University and another in administrative studies from Boston College, where he also earned his bachelor’s degree in English and communications. 

NEXT: Mercer Acquires Thomsons Online Benefits

Mercer Acquires Thomsons Online Benefits

Global consulting firm Mercer has agreed to acquire Thomsons Online Benefits, a benefits software provider leveraging the Darwin platform. The two firms will aim to combine consulting and brokerage services with technology that changes the way benefits are designed, communicated and administered.

“The combination of Thomsons’ Darwin technology with Mercer aligns to the growing demand from multinational employers to offer a common yet locally tailored employee benefits platform that delivers the latest in creative engagement, modern design, analytic insights and administrative efficiency and support,” says Julio Portalatin, president and CEO of Mercer. “The acquisition also drives future growth in local markets across the world where Thomsons and Mercer are already well established by putting technology at the heart of addressing employer and employee needs.”

Thomsons CEO Michael Whitfield projects the acquisition will further allow his firm to “scale the development of Darwin faster globally, as well as locally. I am also delighted about the career and personal development opportunities that this move offers to Thomsons’ employees all over the world."

Terms of the agreement were not disclosed.

NEXT: T. Rowe Price Hires Retirement Sales Executive

T. Rowe Price Hires Retirement Sales Executive

Scott Redfield has joined T. Rowe Price Retirement Plan Services as the firm’s new vice president and senior retirement sales executive for the Midwest. He will focus his efforts on large-market sales in the region. 

Redfield brings more than 15 years of experience in the defined contribution (DC) industry, which includes more than a decade of sales expertise at T. Rowe Price. Most recently, he served as vice president of Institutional Markets at Transamerica Retirement Solutions. In this role, he was tasked with selling and marketing Transamerica’s recordkeeping services to 401(k), 403(b), and nonqualified prospects throughout Colorado, Arizona, Nebraska, New Mexico, and Oklahoma. He received his bachelor’s degree from the University of Northern Colorado.

“Scott is a terrific addition to our growing sales team in the U.S.,” says Kevin Collins, head of sales at T. Rowe Price Retirement Plan Service. “His proven skills and deep expertise will help further efforts to grow our large-market retirement client base in the Midwest region.”

NEXT: Allianz Life Insurance Appoints Head of Relationship Management

Allianz Life Insurance Appoints Head of Relationship Management

Corey Walther has been appointed by the Allianz Life Insurance Company of North America as the firm’s new head of distribution relationship management. He officially assumes this position on January 1, 2017. He will be tasked with leading business development and sales growth for the firm’s broker/dealer distribution channels. He will reportto Allianz Life Financial Services LLC CEO Tom Burns.

Walther has served several leadership roles with Allianz Life since joining in 1998 including senior vice president of strategic accounts and head of advisory distribution. He most recently served as chief operating officer and chief compliance officer for Allianz Life Financial Services. He will continue to serve as chief compliance officer until his replacement is named.

Walther holds a bachelor’s degree in finance from Moorhead State University in Minnesota and a master’s degree in business administration from the University of Minnesota, Carlson School of Management. He also is a member of the Allianz Financial Literacy Committee which works closely with organizations such as Junior Achievement and BestPrep. He also serves as chairperson and board member for Twin Cities in Motion, a non-profit organization with a mission of promoting healthy lifestyles through community outreach and running events such as the Twin Cities Marathon.