Retirement Industry People Moves

Northern Trust Asset Management adds Public Funds and Taft-Hartley leader; Vanguard hires head of finance division.

Bob Parise has joined Northern Trust Asset Management as practice lead, Public Funds and Taft-Hartley plans for the Institutional Group.

In this newly-created leadership role, he will collaborate across sales and client relationship management to establish business strategy and lead the delivery of investment solutions, including equity, fixed income and alternative asset classes, for these institutional segments.

Parise joins from J.P. Morgan Asset Management, where he was co-head of the Americas defined benefit business, responsible for new business development and relationship management across a group of corporate, public and Taft-Hartley defined benefit and defined contribution retirement plans.

“Bob’s exceptional leadership skills and depth of knowledge about the Public Fund and Taft-Hartley segments will strengthen our investment offering for these plans that serve millions of workers,” says John Abunassar, head of Sales and Distribution in North America for the Institutional Group at Northern Trust Asset Management.

Parise has more than 20 years of experience at J.P. Morgan Asset Management and its predecessor firms. Prior to his leadership role in the defined benefit business, Parise was Midwest regional manager, a client adviser and an institutional sales executive. He earned a Bachelor of Business, Finance degree from Western Illinois University and an M.B.A. from DePaul University.

NEXT: Vanguard hires head of finance division

Michael Rollings will join Vanguard next month as chief financial officer and head of its Finance division.

Rollings most recently served as executive vice president and chief financial officer of MassMutual Financial Group.

He will assume leadership of Vanguard’s Finance division from managing director Glenn Reed, who will remain a member of the firm’s 11-person senior leadership team and head Vanguard’s Strategy division. Rollings will be responsible for all of Vanguard’s finance functions, including middle-office investment operations, investment product accounting and administration, and internal audit.

After starting his career in banking in New York City, Rollings joined MassMutual in 2001 to lead the firm’s Capital Markets division, and was named executive vice president and CFO in 2006. He received a B.S. degree in business administration from Georgetown University and holds a postgraduate degree from the Kellogg School of Management at Northwestern University.