Retirement Industry People Moves

John Hancock Expands Institutional Sales Team; CUNA Mutual Retirement Tackles TPA Market; OneAmerica Appoints Regional Sales Director; and more.
John Hancock Expands Institutional Sales Team

Luji Brock and Brad Feeley have joined John Hancock Investments as new members of the firm’s institutional sales team. Brock will serve as managing director supporting John Hancock’s UCITS business, while Feeley takes on the role of managing director and ETF specialist.

Brock joined John Hancock one year ago as a vice president and strategic relationship manager for the firm’s retirement plan services business. Previously, she served as the UCITS sales specialist for Eaton Vance. She reports to Todd Cassler, president of institutional distribution.

“We’re confident Luji will be a vital resource for our UCITS business,” says Cassler. “She will primarily focus on decision makers within Latin American-focused private banks, RIAs, and wealth management firms. We’re pleased to welcome her to John Hancock Investments.”

Feeley will focus on retail and institutional channels at John Hancock Investments, acting in a specialist capacity with existing salespeople as well as covering ETF-centric firms directly. Most recently, he was with Guggenheim Investments, where he sold UITs and ETFs in the Midwest region across a range of channels. Previously, he served several roles with Invesco. He reports to Michelle Fuller, managing director, ETF distribution.

“Brad’s expertise will prove valuable to us as we continue to build out our ETF product line amid the strong momentum we’ve already created for this business,” says Ms. Fuller. “We’re delighted to have him join our team.”

NEXT: CUNA Mutual Retirement Tackles TPA Market

CUNA Mutual Retirement Tackles TPA Market

CUNA Mutual Retirement Solutions has appointed Bill Riccio as director of TPA relationship management. He will serve as the firm’s first external hire for its growing TPA channel.

“Presence in the TPA channel is a critical component for the long-term strategy for our retirement services business,” says Chris Phillips, director of institutional sales. “This new position will play a key role in executing this strategy.”

Riccio, who joined CUNA Mutual Retirement Solutions earlier this month, will be building on more than 20 years of experience in the financial services industry. He will be responsible for growing TPA relations on a national level. He most recently served as vice president of sales with Vertical Management Systems (Retirement Revolution). He’s also worked with United Planners, Retirement Alliance, Charles Schwab and Vanguard.

“We have a clear focus on fiduciary regulations, efficiencies and the tools and support needed for our partners, TPAs and advisers to confidently service the expectations of plan sponsors and their participants,” says Riccio. “I've joined a passionate group and look forward to advancing the product and strategic partnerships in the TPA community.”

NEXT: OneAmeirca Appoints Regional Sales Director

OneAmerica Appoints Regional Sales Director

OneAmerica has named Thomas Mitchell as regional sales director for Taft-Hartley services. He will be responsible for business plan development while supporting multiemployer defined contribution (DC) retirement plan trustees and their members. Mitchell will primarily be serving the Northeast.

Mitchell joined OneAmerica this month after spending two decades serving multi-employer labor and union clients for Putnam Investments, as well as New York Life. He most recently served as strategic relationship manager for CUNA Mutual Retirement Services.

"Our clients, consultants, advisers, and future customers will appreciate Tom's breadth of expertise in the Taft-Hartley market, which allows him to provide high-touch, responsive service, education, and guidance," says Derek Pleasants, national director of Taft-Hartley services.

Mitchell climbed to the ranks of vice president after joining the firm as an entry-level sales representative. He eventually oversaw the company’s largest retirement plan, a $6 billion / 30,000-member plan servicing New York City electricians.

"I'm a third generation union guy in my family, and very committed to this business," says Mitchell. "I've been in it for over 25 years and really enjoy it."

OneAmerica has been providing services and investment products in the Taft-Hartley marketplace since 1974 and that specialization increased with the 2015 acquisition of the retirement services business of BMO.

"OneAmerica is one of the few retirement plan providers to have a dedicated Taft-Hartley team and commitment to the marketplace," says Bill Yoerger, president of OneAmerica Retirement Services. "We have the infrastructure, talent, and experience to service its unique needs so that at the end of the day union workers understand financial wellness and are able to retire with dignity."

NEXT: T. Rowe Price Hires Global Head of Product

T. Rowe Price Hires Global Head of Product

Andrew Astley has joined T. Rowe Price Group as global head of product, effective January 23, 2017. He will collaborate with the firm’s investment and distribution teams to develop product strategies for U.S. equity, international equity, fixed income, and asset allocation. He will also focus on developing and implementing plans for launching new products.

Astley will report to Robert Higginbotham, a member of the firm's management committee.

Astley spent eight years serving as head of global product and marketing at State Street Global Advisors (SSGA), and also was the firm’s chief operating officer for EMEA based in London. As a member of the group’s executive leadership team, he most recently served as head of integration and transition during State Street's acquisition of GE Asset Management. 

Before joining SSGA in 1997, Astley worked in a variety of client-facing roles at PanAgora Asset Management. He graduated from the University of Michigan with a bachelor’s degree in political science and has also earned the Chartered Financial Analyst designation.

NEXT: Putnam Investments Creates New Global Institutional Leadership Role

Putnam Investments Creates New Global Institutional Leadership Role

Daniel Melley has joined Putnam Investments in a newly created role which will see him leading the firm’s efforts in serving institutional clients and investors throughout Europe, the Middle East and Africa (EMEA). Based in London, Melley will report directly to Jeffrey L. Gould, head of Putnam Global Institutional Management. 

“In the coming years, we expect to see an ongoing evolution of the institutional marketplace within Europe, the Middle East and Africa, presenting its own unique set of opportunities,” says Gould. 

Prior to joining Putnam, Melley served as global head of consultant relations for Winton Capital, a $30 billion hedge fund. He also spent 17 years with Mercer, where he served several leadership positions. He launched his career in the financial services industry after joining Bessemer Trust in New York in 1996. 

A CFA charter holder, Melley graduated from the University of Notre Dame in 1996 with a degree in finance.

NEXT: Alegeus and Pension Dynamics Announce Partnership

Alegeus and Pension Dynamics Announce Partnership

Alegeus, provider of consumer directed healthcare (CDH) solutions, announced that Pension Dynamics Company LLC, a retirement and benefits solutions provider, has selected the Alegeus platform to power its account-based benefit offerings.

The partnership is aimed at boosting capabilities around flexible spending accounts (FSAs), health reimbursement accounts (HRAs), and dependent care and transit accounts.

According to the firms, the healthcare market is in the midst of a shift toward individual responsibility for costs, which will necessitate that consumers take a more active role in virtually all aspects of their care.

“In much of the same way that company-sponsored pension plans transitioned to more consumer-directed 401ks, health benefits are following a similar path, leading to rapid adoption of consumer directed healthcare accounts (FSAs, HSAs, HRAs),” the firms argue.

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NEXT: Putnam Investments Expands Equity Research Team

Putnam Investments Expands Equity Research Team

Samuel Cox and Kathryn B. Lakin have been appointed toco-direct the equity research team of Putnam Investments. They will be responsible for overseeing the work of nearly 35 analysts covering major industries and providing research for the firm’s broader equity platform. They will report to Aaron M. Cooper, CIO of equities.

“As a firm that is highly committed to delivering active management to the marketplace, equity research remains a key engine in finding new and different sources of investment opportunity,” says Cooper. “We are pleased to have Kate and Sam, talented leaders with solid equity research experience, piloting this important function for our organization.” 

Cox also serves as a portfolio manager of Putnam Global Health Care Fund and the Putnam Global Sector Fund. In addition, he will be joining the Putnam Research Fund team. Prior to joining Putnam in 2012, Cox served as an equity analyst at Pyramis Global Advisors. Previously, he held positions with the Rock Creek Group and Cambridge Associates. Cox holds a master’s degree from the Massachusetts Institute of Technology’s Sloan School of Management.

Moving forward into her new role, Lakin will maintain her role as portfolio manager of Putnam Research Fund. In addition, Lakin will join the portfolio management team of Putnam Global Sector Fund. Previously, Lakin was assistant director of Global Equity Research at Putnam. She was also an analyst in the U.S. large cap equity research group, covering consumer staples. She joined Putnam in 2012 from Fidelity Investments, where she held positions in equity research. She received a master’s degree candidate in asset management at the Yale School of Management.

Putnam Investments is a global money management firm with $151 billion in assets under management, as of the end of October 2016.

NEXT: NextCapital Appoints New CIO

NextCapital Appoints New CIO

NextCapital, an enterprise digital advice provider, has hired Matt Clink as chief investment officer. He will work with large institutional partners to implement their methodologies, lead the enhancement of NextCapital’s proprietary advice methodology, and chair its investment committee.

“NextCapital is at the forefront of helping large institutions deliver their proprietary advice methodology through 401(k) and retail channels,” said John Patterson, CEO of NextCapital. “Matt is a great fit in the CIO role with our focus on an enterprise partnership strategy. His strong institutional background brings a deep understanding of our partners’ needs, and he also clearly sees a unique opportunity to work with those partners to extend the best quality advice to their end clients.”

Clink will bring more than 17 years of institutional asset management experience to his new role. Most recently, Clink served as North American chief investment officer for Aon Hewitt Investment Services, where he oversaw $50 billion in assets under management. His specialties include pension consulting, target-date fund solutions, pension risk management, product design, modeling, portfolio implementation and advisery solutions.

Clink is a research publisher on a variety of investment and risk management topics. He also is a Chartered Financial Analyst, and a member of the Chartered Financial Analyst Society of Chicago. He holds a master's degree in finance from the University of Alabama at Manderson.

NextCapital partners with institutions to deliver personalized planning and managed accounts to individual investors across multiple channels including 401(k), IRA, and taxable brokerage accounts. 

NEXT: Ascensus Acquires National Retirement Services

Ascensus Acquires National Retirement Services

Ascensus, a retirement and college savings services provider, has acquired independently-owned National Retirement Services, a third-party administration firm that provides-plan level compliance, administration, and actuarial services.

National Retirement Services, which employs more than 60 individuals specializing in ERISA and actuarial practices, supports adviser-sold defined contribution and defined benefit plans for 2,000 clients. Following the acquisition, Ascensus will serve more than 46,000 retirement plans.

“Joining the Ascensus family is a winning proposition for both our clients and our employees,” says John Sciarra, president and chief executive officer of National Retirement Services. “We’ll continue to provide service delivery that ensures accuracy, responsiveness, and timelines—only now we’ll be backed by the resources of the largest independent retirement and college savings services provider in the country.”

Ascensus President of Retirement Shannon Kelly adds, “One of the things that I value most about National Retirement Services, Inc.’s staff is their culture and commitment to integrity and service excellence. Bringing National Retirement Services, Inc. into the fold will expand Ascensus Consulting’s national footprint, which will allow us to offer our services to more clients who are looking for expert retirement plan design and administration while ensuring that current clients continue to receive the care and attention that they deserve.”

This decision comes following Ascensus’ acquisition of Retirement Educators, which it announced within the last two weeks.