Mercer Names Partner in Minneapolis Health Business
Barb Vasko has been named a partner in Mercer’s Health Business in its Minneapolis office. In this role, she will help large market clients restructure their approaches to health and benefit plans.
Prior to joining Mercer, Vasko spent more than 14 years as vice president of Aon. She received her bachelor’s degree in business administration at the University of St. Thomas, Minnesota. She also has a Group Benefits Associate designation from The International Society of Certified Employee Benefit Specialists (ISCEBS).
“We are thrilled to welcome Barb to Mercer,” says Rey Balcazar, office business leader, Health in the Central US. “Her passion for serving our clients and her innovative approaches to health benefit challenges will help our clients further leverage the full value of Mercer.”
Beltz Ianni & Associates Hires Retirement Consultant
Michelle Cannan has joined Beltz Ianni & Associates as a retirement plan consultant in its professional team of client advisers. She will focus on consulting, plan design, administration, and compliance services. She brings to her new role more than 12 years of experience in the pension field, where she specialized in annual compliance testing, supervision of plan audits, and participant education.
“Michelle is a spectacular addition to our retirement services team of professionals,” says Bob Judd, Beltz Ianni & Associates’ managing partner. “Her broad range of experience will be an invaluable asset to our clients, helping to ensure they are well advised. In addition to providing third-party administration and compliance services through our sister company, Enhanced Retirement Solutions, Michelle will offer comprehensive plan fiduciary consulting services to Beltz Ianni & Associates’ retirement plan clients.”
Prior to joining Beltz Ianni, Cannan spent 11 years as a client manager with Kraematon Group, a retirement plan adviser located in Wellesley, Massachusetts. Prior to Kraematon, she was a relationship manager with Paychex’s Retirement Services Department and held leadership positions at a multinational banking and financial services corporation. Cannan holds FINRA securities licenses Services 6 and 63. She received a bachelor’s degree from Clarkson University in Potsdam, N.Y.
Fidelity Names President of Institutional Arm
Fidelity Investments announced that Michael R. Durbin has been named president of Fidelity Institutional, the firm’s division that provides clearing, custody, trading services, technology, investment management products and solutions to financial intermediaries and institutions. He will also join the Fidelity Operating Committee.
Durbin previously served as head of Fidelity Institutional’s product and platform technology group. He succeeds Jeffrey P. Lagarce, a long-tenured Fidelity executive who will be transitioning to a senior adviser role.
“Mike has been a leader in helping to drive the evolution of the wealth management industry, ensuring that our clients have the technology, investment solutions and insights they need to succeed in a changing landscape,” says Abigail P. Johnson, chairman and chief executive officer of Fidelity. “His client focus will help to promote the continued growth of Fidelity Institutional, which is an important part of Fidelity’s portfolio of businesses.”
Durbin joined Fidelity in 2009 as a leader of its RIA custody unit until 2015.
Prior to joining Fidelity, Durbin acted as chief operating officer of the National Sales Division for Morgan Stanley’s Global Wealth Management. During his 18-year tenure with Morgan Stanley, Durbin held various leadership positions including head of Capital Markets, head of International Private Wealth Management, and chief strategic and risk officer for the Global Individual Investor Group.
Durbin received his bachelor’s degree from the University of Notre Dame in 1990. In 1998, he received his master’s degree from the Leonard N. Stern School of Business at New York University.
AXA Names Head of Retirement Plan Services
AXA announced that Kevin Molloy has been appointed head of Investor Relations (IR) for AXA US. In addition, Stephen Scanlon becomes head of Retirement Plan Services (RPS).
“Given Kevin’s experience in IR, his 17 years with AXA and his success in leading RPS since 2013, I am delighted that he has accepted the challenge of establishing the IR function and launching a profile for AXA US,” says Mark Pearson, chairman and chief executive officer, AXA US. “At the same time, I want to welcome Steve, who will now oversee RPS, which comprises our 403(b), 401(k) and the 457 retirement businesses. He brings to AXA more than 20 years of experience in financial services and success in positioning products and services though all distribution channels, varying market cycles and economic conditions.”
Molloy joined AXA in the U.S. in 1999 as director of corporate finance. He went on to serve increasing responsibility in investor relations and distribution finance. He began his career as an economist and corporate profits analyst with the United States Department of Commerce’s Bureau of Economic Analysis.
Previously, Scanlon was co-founder of GuardVest, a Dallas-based financial technology startup. Beforehand, he was a senior vice president and managing director for Bernstein Global Wealth Management. Scanlon is a veteran of the executive ranks of AB, (formerly AllianceBernstein), an asset management company and one of the holdings of AXA Financial.