Retirement Industry People Moves

Pantheon announces appointment of partner and other hires; Millennium Trust acquires Liberty Trust assets; and Mercer announces recent hires to global and U.S. market.

Art by Subin Yang

Art by Subin Yang

Pantheon Announces Appointment of Partner and Other Hires

Pantheon has appointed Rakesh Jain as partner and global head of private debt. He is based in Pantheon’s New York office.

Pantheon plans to hire additional resources in both London and New York. Currently, Toni Vainio, principal, leads European private debt origination and investments while Francesco di Valmarana chairs the global credit committee. Jain will join the GCC together with existing members di Valmarana, Vainio, Jeff Miller, partner, and Dennis McCrary, partner.

Jain reports to McCrary, leads U.S. investment activity, coordinates global investment activity, and provides line management of the private debt team.

“We are delighted to be joined by Rick, whose deep experience in executing and managing private debt investments will add valuable investment expertise and coverage for our clients,” says di Valmarana.

Previously, Jain was a managing director and investment committee member at Star Mountain Capital, a private credit firm based in New York. Previously, he founded and managed an investment firm focusing on providing flexible private debt and structured equity solutions to middle market U.S. companies, and was a principal at a division of Stone Tower Capital, now Apollo Global Management. Prior to that, Jain worked as the director at Citigroup Alternative Investments, where he managed several funds focused on private equity and private credit direct investments, fund investments, as well as on strategic financial services investments. He started his career in investment banking at Morgan Stanley & Co. in New York in the financial institutions group.

Jain holds a bachelor of commerce degree from McGill University.

Millennium Trust Acquires Liberty Trust Assets

Millennium Trust Company has acquired assets of Liberty Trust Company

Liberty Trust, founded in Dallas, Texas, in 2005, is a leading provider of custody and administration services for specialized individual retirement accounts (IRAs). At the time of the transaction, the Liberty Trust client accounts represent approximately 10,000 IRAs and $800 million of retirement assets under custody, including self-directed IRAs holding privately held or alternative assets, as well as automatic rollover IRA accounts originating from corporate retirement plan sponsors.

“Liberty Trust’s business aligns perfectly with Millennium Trust’s, and we have a dedicated and experienced team to serve these clients through the transition and beyond,” says Gary Anetsberger, CEO of Millennium Trust. “We are excited to build and expand relationships with these clients, and provide them the outstanding service that Millennium Trust is known for in the industry.”

“It was important for us to make sure that this transaction would work well for our clients,” says Glen Martin, CEO and co-founder of Liberty Trust. “Millennium Trust is the leader in this industry, and offers clients an outstanding experience and value.”

“We are thrilled with what Millennium Trust has to offer our clients,” adds Stephen Pauley, COO and co-founder of Liberty Trust. “We know they will receive top-level service with Millennium Trust.”

This transaction represents Millennium Trust’s sixth acquisition over the past three years.

Mercer Announces Recent Hires to Global and U.S. Market

Mercer has appointed two professionals to the global leadership team of its wealth business, as well as a senior hire for the U.S. market.

Raelan Lambert has been named global alternatives leader and Barb Marder has been named global product solutions leader, both with immediate effect. Additionally, John Mohr joins the company as senior investment consultant.  

“Raelan and Barb’s appointments demonstrate the continued growth and strength of our investments business, specifically our abilities in alternatives and our capabilities in digital disruption,” says Rich Nuzum, president of Mercer’s global wealth business. “Both bring strong track records and immense industry knowledge, and we look forward to seeing our clients benefit from their expertise in 2020 and beyond.”

As global alternatives leader, Lambert leads research, advice and solutions related to alternative asset classes. In addition to her work with clients and investment managers, she has operational responsibility for Mercer’s 170 alternatives specialists. Lambert is succeeding Donn Cox, who founded and led LP Capital Advisors and Pavilion Alternatives Group prior to it being acquired by Mercer in 2018. Cox will remain at Mercer as a senior adviser until March of 2020 to assist in transition. Lambert will also work closely with Bill Muysken, who continues in his role as Mercer’s global chief investment officer for alternatives.

Lambert continues to be based in Sacramento and reports to Rich Nuzum. Previous to this appointment, Lambert was the global head of private debt at Mercer. She joined Pavilion Alternatives Group in 2004, which was acquired by Mercer in 2018. Since 2005, she has held leadership roles in the firm’s core business units, including risk management, investment research and investment advisory.

As global product solutions Leader, Marder will play a role in the firm’s efforts to expand its digital disruption capabilities, specifically in the area of investments research delivery. In this position, she assumes direct leadership of MercerInsight, an online tool which provides research, data, and analytics on investment strategies to institutional investors, and Mercer FundWatch, which provides research and ratings on funds to individual investors and financial advisors. Marder is also responsible for managing relationships with investment managers.

She is based in Baltimore and reports to Nuzum.

Marder has worked in Mercer’s business units for over 30 years, including defined contribution (DC) consulting, international consulting and global mobility. She has led Mercer’s innovation hub for the past two years, and spent her first 20 years with the company as an actuary.