Retirement Industry People Moves – 4/26/24

PCS Retirement Hires Kirtland    

Pete Kirtland was hired as the head of corporate business development at PCS Retirement LLC, confirms a spokesperson by email.

A PCS Retirement representative did not reveal to whom Kirtland reports or details of the role.

PCS Retirement named Scott David as the company’s CEO in March.

David succeeded Mark Klein, the company’s founder and former CEO, who is expected to step away from day-to-day operations but remain active as a member of the board of directors.

Principal Financial Group Announces New Asset Management CEO

Kamal Bhatia, global head of investments and president of Principal Funds and chairperson of Principal Funds Board, was named president and CEO of Principal Asset Management, effective February 10, Principal announced in a press release.

Bhatia succeeds Pat Halter, who retired on April 2 after 40 years with the company, according to the announcement.

Bhatia is responsible for strategy, investment performance and client growth of the global investment unit.

He reports to Dan Houston, chairperson, president and CEO of Principal Financial Group, explains a spokesperson.

“Asset management is a core growth driver for Principal and the investment engine behind the company’s global retirement and benefits and protection businesses,” says Houston in a statement.

Bhatia joined Principal in 2019 as president and CEO of Principal Funds before he was named COO for the asset management business in 2020 and global head of investments in 2023.

Voya Creates Two New MEP Roles

Chris Phillips and Chip Logan were hired as assistant vice presidents at Voya Financial, says a Voya spokesperson by email.  

Phillips and Logan will be responsible for working with Voya’s salespeople, third-party administration and intermediary relations teams within the multiple employer plan markets division, specifically pooled employer plans, explains the spokesperson.  

“This will include both helping to facilitate the creation of new solutions with key partners along with a focus on growing assets and adding adopting employers into existing solutions,” says the spokesperson.

Phillips and Logan report to Christina Buettel, vice president, wealth business development and MES (Multiple Employer Solutions) sales leader at Voya.

Logan started the role April 1 and Phillips started on March 18.

Most recently, Logan was director of retirement plan services at accountancy and professional services firm CliftonLarsonAllen, and Phillips was a retirement key account executive for Mutual of Omaha.

“With total plan sales increasing 14% year over year in 2023, we’re excited to see the evolution in the broader pooled plan space continue to evolve,” said Ginger Brennan, head of ABA Retirement Funds and multiple employer solutions at Voya Financial, in an emailed statement. “Chris and Chip will make great additions to the team to help us execute further on our strategy and support retirement plan sponsors and plan advisers in guiding employees to the solutions that will help create greater outcomes for all.”

Congruent Names New Chief Revenue Officer

Mahesh Natarajan was hired to the newly created role of the chief revenue officer at software and retirement plan administration services provider Congruent Solutions Inc., it announced in a press release.

Natarajan will be responsible for forming strategic relationships with clients and partners, business growth and broadening the reach of Congruent’s brand and thought leadership, according to the release.

“We are pleased to welcome Mahesh Natarajan to Congruent,” said Balaraman Jayaraman, co-founder and CEO of Congruent Solutions, in the release. “Natarajan’s proven track record of driving business transformation for clients in the U.S. insurance and retirement solutions industry, coupled with his deep understanding of market dynamics and client priorities, will position Congruent exceptionally well to drive meaningful value to all our stakeholders. The timing of Natarajan joining our team is perfect as our larger mission is to build on the value we deliver to over 50 clients in the retirement industry and propel our aggressive growth plans.”

Most recently, Natarajan was North America head of life, retirement and benefits at Cognizant.   

Correction: fixes Christina Buettel’s title.