Never miss a story — sign up for PLANADVISER newsletters to keep up on the latest retirement plan adviser news.
Deals & People May 5, 2023
Retirement Industry People Moves
Thornburg Investment Management CEO to leave later this year; Franklin Templeton expands alts team; Lockton announces new global leadership structure; and more.
Reported by Natalie Lin
Thornburg CEO To Depart
Thornburg Investment Management Inc. announced Friday that CEO and President Jason Brady will leave the firm later this year.
The Santa Fe, New Mexico-based provider of mutual funds, institutional accounts, and separately managed accounts said Brady will also leave his position as portfolio manager and member of the board of directors. Thornburg did not specify why Brady is leaving or give an exact departure date, but Brady will continue in his role while the board of directors looks for a successor.
“Since joining Thornburg in 2006, I am proud of what we have achieved, particularly the strength of the team we have developed, and I’m grateful for the opportunity to serve as the firm’s president and CEO for nearly eight years,” Brady said in a statement. “This is the appropriate time for a new leader to step in, and I remain fully involved and engaged while the board searches for a successor.”
Prior to joining Thornburg, Brady worked as a senior portfolio manager at Fortis Investments and as a trader in corporate bonds at Fidelity Investments, according to his company biography.
“I thank Jason for delivering strong results across our business and notably assembling an experienced group of world-class leaders at the organization,” Garrett Thornburg, the company’s chairman, said in a statement. “Our 41-year foundation leaves us well positioned to make the next phase of our growth the most exciting in our company’s history.”
Thornburg has $41 billion in assets under management and $1 billion in assets under advisement.
Franklin Templeton Expands US Wealth Management Alternatives Distribution Team
Franklin Templeton announced the appointment of Candice Kemeny as senior vice president and national account manager for alternatives, and Jared Abert as Midwest director of alternative investments.
In their roles within Franklin Templeton’s U.S. Wealth Management Alternatives distribution team, Kemeny and Abert will serve as key liaisons with clients. They will increase the adoption of comprehensive alternative investment solutions within the U.S. market.
“We are pleased to have Candice and Jared join our distribution team as we continue to expand the roster of talent to support our dedicated Alternatives by Franklin Templeton platform,” said Jeff Masom, head of U.S. distribution for Franklin Templeton, in a statement.
Kemeny joined the firm at the end of March, and Abert joined in May. Both are based in Chicago.
Transamerica Names Freidenberg to Lead Customer Experience and Marketing
Transamerica Corp. has appointed Oriana Freidenberg to a new position as head of customer experience and marketing for the company’s individual solutions division, which provides life insurance and annuities to customers throughout the U.S.
At Transamerica, Freidenberg will lead the teams responsible for designing and implementing customer experience strategy, covering both the agent and adviser experiences.
“Oriana’s new role is a result of Transamerica’s expanded focus on enhancing the experience of our customers, agents, and advisors using innovative, data-driven solutions,” said Jamie Ohl, president of individual solutions, in a statement.
Most recently, Freidenberg served as the vice president of go-to-market for Global Atlantic Financial Group and oversaw the company’s Individual Markets marketing organization.
Lockton Announces New Global Leadership Structure
Lockton Companies Inc.’s CEO, Peter Clune, announced the elevation of five key leaders into global roles:
- Troy Cook will continue in his role as chief financial officer and will now also lead all finance and legal associates globally;
- Julie Gibson, Lockton’s chief marketing officer, will expand the reach of Lockton’s “Uncommonly Independent” brand;
- Trey Humphrey, chief legal officer, will lead the global legal team that will work to safeguard the company;
- Martyn Worsley has been appointed Lockton’s chief people officer. In this role, Worsley will lead Lockton’s global people strategy; and
- Byron Clymer, Lockton’s chief information officer, has been entrusted with leading Lockton’s strategy to develop global platforms.
Millennium Trust Names New Chief Financial Officer
Millennium Trust Co. LLC, has named Murphy Clark its chief financial officer.
“It’s an incredibly exciting opportunity to join a company in growth mode,” Murphy said in a statement. “I’m eager to be part of Millennium Trust’s momentum and to continue to build on an effective finance operation.”
Clark joins Millennium Trust after serving as chief financial officer at RVO Health, a digital health joint venture between Red Ventures and UnitedHealth Group. He directed and oversaw all financial activities of the company, including strategic and financial growth plans.
“Murphy brings extensive knowledge and diverse experience to the company,” said Dan Laszlo, Millennium Trust’s CEO, in a statement. “We believe his leadership, professional background, and exceptional understanding of the strategy required for growth will help our entire team continue to find success.”
Nesvold Joins Cresset as President
Cresset announced that Liz Nesvold has joined the firm as president, overseeing the firm’s strategy and offerings
“I am thrilled to join the Cresset team as its first president and work alongside two visionary entrepreneurs and founders, Eric Becker and Avy Stein, as well as an incredible team,” Nesvold said in a statement. “Having worked collaboratively with Cresset to complete three [registered investment adviser] partnerships with clients in the past, I had a first-hand opportunity to see the organization’s commitment to its vision and culture.”
Her primary focus will be to ensure that Cresset clients continue to receive personalized, boutique family office experience.
Prior to joining Cresset, Nesvold was a managing director at Raymond James, which acquired the company she launched and ran, Silver Lane Advisors, in 2019. Among her recognitions, Nesvold was honored with the M&A Advisor Leadership Award in 2021 and recognized as a Woman to Watch by InvestmentNews in 2019.
Cantor Fitzgerald Announces Global Head of Institutional Equity and Prime Distribution
Cantor Fitzgerald LP announced that Alex Englander will join the firm as global head of institutional equity and prime distribution, based in New York.
“We are excited to welcome Alex to Cantor Fitzgerald,” said Howard Lutnick, the firm’s chairman and CEO, in a statement. “He brings with him a proven track record within Global Equities with a wealth of deep and coveted institutional client relationships. His appointment underlines our commitment to our clients and continued investment in our Global Equities franchise.”
Englander joins Cantor from Credit Suisse, where he most recently served as a managing director and head of Americas Equities Advisory Sales. Prior to that role, he spent 18 years at Barclays|Lehman Brothers, serving as head of New York institutional equity sales.
