Oppenheimer Names Compliance Chief

Mary Ann Picciotto will join OppenheimerFunds as chief compliance officer.

Picciotto is expected to start in the role during the first quarter of 2014, according to a statement from OppenheimerFunds. The firm’s current head of compliance, Mark Vandehey, plans to retire at that time, following a transition period.   

As chief compliance officer, Picciotto will be responsible for all aspects of regulatory compliance for OppenheimerFunds’ five affiliated investment advisers, as well as the firm’s three commodity pool operators, two transfer agents, and various broker/dealer and state-chartered trust company operations. She will also provide compliance services to more than 100 mutual funds and dozens of institutional accounts.

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Picciotto will be based in New York and will oversee a staff of more than 30 compliance professionals across three U.S. locations. She will report directly to Ari Gabinet, the firm’s general counsel.

Picciotto joins the firm from Morgan Stanley Investment Management, where she most recently served as global head of compliance and chief compliance officer for the Morgan Stanley funds. Previously, she worked for PwC in the investment management services division.

Innovest Acquires InSight Communications

Denver-based investment consulting firm Innovest Portfolio Solutions has acquired InSight Employee Benefit Communications.

InSight provides custom employee benefit education solutions, retirement plan communications, plan governance services and fiduciary due diligence support to plan sponsors. 

Wendy Dominguez, president of Innovest, says InSight’s education and fiduciary expertise will provide more depth to her firm’s service offerings and additional support for clients and their employees.  

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The merger will add two members from InSight to Innovest’s staff.

Rick Rodgers, who was CEO and principal of InSight Employee Benefit Communications, joins Innovest as a retirement plan consultant. He will support client relationships and continue his role delivering customer education programs to retirement plan clients.

Rogers holds the accredited investment fiduciary (AIF) and accredited investment fiduciary analyst (AIFA) designations from the University of Pittsburgh’s Joseph M. Katz School of Business and Center for Fiduciary Studies.

Ryan Tucci, who was director of operations at InSight, joins Innovest as a senior analyst. He also holds the AIF designation from the University of Pittsburgh’s Joseph M. Katz School of Business and Center for Fiduciary Studies.

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