Deals & People June 2, 2011

Prudential Names Strategic Solutions Managing Director

Prudential Financial hired Kathryn Sayko to be managing director for its Strategic Solutions Group.
Reported by

Sayko will be responsible for building and expanding Prudential’s relationships with senior financial management at large corporations. She will report to Kevin Myers, head of the Strategic Solutions Group, and Phil Waldeck, head of Pension Risk Transfer for Prudential Retirement.

Sayko joins Prudential after 16 years at J.P. Morgan, where she most recently served as a managing director, responsible for providing investment-banking services to clients across a range of industries. She holds an MBA from New York University.  

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“Kathy’s financial services experience gives her the ability to understand the pressures faced by companies and their financial officers,” said Myers. “We’ve been focused on a core group of clients, and with Kathy’s knowledge of the needs facing large companies across all industries, we can expand our relationships and offer the kind of expertise that will help those companies solve the challenges of risk management, pension funding and employee benefits costs.” 

Deals & People June 2, 2011

Pioneer Investments Partners with Fee Benchmarking Firm

Pioneer Investments is partnering with Fiduciary Benchmarks, Inc. (FBi), a consulting firm specializing in providing plan fiduciaries with information on the reasonableness of fund fees.
Reported by

The partnership will give Pioneer and its clients access to FBi’s benchmarking services to assess plan fees. Fiduciary Benchmarks has established protocols with more than fifty recordkeepers and produces thousands of reports annually for a range of service providers and fiduciaries to determine fee reasonableness, according to the company.  

Pioneer advisers will be able to access benchmarking reports that can help retirement plan fiduciaries satisfy their obligations under ERISA section 404(a)(1) and the upcoming ERISA section 408(b)(2) regulation, slated to take effect in January 2012, which will require the disclosure of compensation, status, and services related to a retirement plan.  

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“The signing of this partnership is consistent with Pioneer’s objective of making sure that our clients and prospective clients who are retirement plan administrators have access to the best possible tools to allow them to evaluate their plan fees, design, and adviser services,” said Jamie Axford, Senior Vice President and Director of Business Development for Pioneer’s Investment Only & Retirement Group.

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