Products December 14, 2009

Symetra Offers New Group Variable Annuity for 403(b), 457 Plans

Symetra Life Insurance Company has launched Retirement Passport Group Variable Annuity for the 403(b)/457 market.

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A press release said Retirement Passport was designed with schools and non-profits in mind. The tax-deferred solution offers an array of professionally managed portfolio options from firms including American Funds, Fidelity, and Vanguard.

The product also gives participants access to funds that invest exclusively in socially and environmentally responsible companies, according to the announcement. Passport’s initial fund lineup includes 60 portfolio options from 13 money managers.

The product features contribution minimums as low as $30; free annual withdrawals up to 10% of the participant account value per certificate year; and multiple retirement income options.

More information is available at www.symetra.com.

Deals & People December 14, 2009

Pride Joins Glenmede as Director of Investment Strategy

Glenmede has announced that Jason Pride has joined the firm as director of Investment Strategy, a newly created position.

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According to the announcement, Pride will be responsible for formulating and, along with Chief Investment Officer Gordon Fowler, to whom Pride will report, directing investment policy and strategy for Glenmede clients.  

“Jason’s extensive research and strategy expertise deepens our perspective and enhances our ability to develop customized investment solutions for clients,” said Fowler in the announcement.  “Jason joins us at a time when more and more high-net-worth investors seek an independent firm with an exclusive commitment to investment and wealth management.”  

Pride joins Glenmede from The Haverford Trust Company, where he was director of Research overseeing quantitative and fundamental investment research. In that role, the announcement said that he was “instrumental in the development, incubation, and launch of new investment products and served as a leading member of the Investment Selection Committee managing client assets.”

Pride’s prior experiences include positions with Logan Capital Management and UBS Warburg Dillon Read where he provided fundamental research analysis across leading industries. 

Philadelphia-based Glenmede is an investment and wealth management firms, with more than $18 billion in assets under management for high-net-worth individuals, families, and institutional clients. The firm also has offices in Delaware, New Jersey, New York, and Ohio. 

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