Products April 3, 2007

Wisdom Tree Aims to Bring ETFs to 401(k)s

WisdomTree Investments has created a business unit focused on delivering exchange traded funds (ETFs) to the 401(k) marketplace.
Reported by
The effort will be led by industry veteran Al Shemtob, who has assumed the position of Director of Retirement Services, the company announced. Shemtob was President of BISYS Retirement Services and its predecessor firm for 17 years.
Shemtob will be helped by two other additions to the WisdomTree executive ranks. Ben Slavin, previously with Morgan Stanley Investment Management, has joined as Director of Product Development and Richard Harper, most recently a VP, Senior Portfolio Strategist at RBC Dain Rauscher and was a former ETF fixed income portfolio manager for ETF Advisors, has joined as Director of Fixed Income Strategy.
“Investors and advisers have become familiar with the many benefits that ETFs offer and are now looking to utilize them in their 401(k) plans,” said Jonathan Steinberg, CEO of WisdomTree Investments, in the news release. “The 401(k) market, with over $2.4 trillion in assets, is an untapped channel for ETF growth and we believe Wisdom Tree’s ETFs are particularly well-suited for the retirement market.’
Deals & People April 3, 2007

JennisonDryden Selects New Leader for DC Mutual Fund Expansion

Prudential Financial, Inc.’s mutual fund family JennisonDryden has named Michael Rosenberg, formerly of Goldman Sachs, as its senior vice president to lead Prudential’s mutual fund expansion in the defined contribution market.
Reported by
According to a press release, Rosenberg will lead a team that includes Regional Vice President Anthony Fiore.
Rosenberg was most recently head of Retirement Services at Goldman Sachs. Prior to joining Goldman Sachs in 1998, he was a director of Investment Management Consulting for Capital Resource Advisors (now CRA Rogers Casey). He also spent 11 years at ABN AMRO developing and marketing retirement plan services.
“Michael brings tremendous talent and leadership in the investment-only defined contribution market,” said John Drahzal, JennisonDryden’s director of distribution, in the press release. “With employees focused on retirement savings now more than ever–and with help from recent tax laws favoring defined contribution plans–we believe this market offers a tremendous breadth of opportunities for our products.”
Rosenberg has an MBA in finance from Keller Graduate School of Management.
More information is available at www.jennisondryden.com.

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