Products May 10, 2011

Lincoln Now Offering Solution Exclusively through TPAs

Lincoln Financial Group announced that its Lincoln Director group variable annuity-based retirement solution will be available for new sales exclusively through a service model supported by third-party administrators (TPA).
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The Lincoln Director solution will continue to offer plan sponsors fiduciary assistance, employee retirement education and communications, and additional opportunities for plan enhancements through value-added services, the company said. 

The company said TPAs offering Lincoln Director can rely on an ongoing partnership with Lincoln that couples relationship and account management support with customer service. As a plan provider, Lincoln Financial’s offering also features fiduciary support, funds management, and accumulation strategies. Current Lincoln Director full-service retirement plan cases will not be affected by the change.  

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The Lincoln Director investment lineup provides plan participants with an opportunity to choose from 90 investment options from 15 fund families. The program also offers a range of distribution options, including Lincoln’s patented i4LIFE Advantage product. 

“While TPA exclusivity for Lincoln Director is the ideal model for the micro-to-small markets, we will continue to offer a suite of competitive, full-service solutions that address the needs of the mid-and-large end of the market,” said Eric Levy, Head of Products, Defined Contribution.

Deals & People May 10, 2011

BNY Mellon Appoints CEO of Global Markets

BNY Mellon has appointed Arthur Certosimo as CEO of Global Markets.
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Certosimo, who is currently CEO of Alternative, Broker-Dealer and Treasury Services, will succeed Richard Mahoney, who is retiring at the end of June.  Certosimo will report to Gerald Hassell, president of BNY Mellon. 

Certosimo currently oversees hedge fund and derivatives servicing, securities clearance, collateral management and treasury services.  In his new role, he will lead the company’s foreign exchange, capital markets and derivatives trading businesses worldwide. 

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The company also announced that Brian Ruane, who is currently head of Alternative Investment Services, will become CEO of Alternative and Broker-Dealer Services, reporting to Karen Peetz, vice chairman and CEO of Financial Markets & Treasury Services.  David Cruikshank, CEO of Treasury Services, who currently reports to Certosimo, will now report to Peetz. 

Certosimo serves as a member of the board of directors of DTCC, Promontory Interfinancial Network, CMET Finance Holdings and International Derivatives Clearing Group (IDCG). Prior to joining BNY Mellon in 1998, he held senior roles at Morgan Stanley and Chase Manhattan.   

Ruane, who joined BNY Mellon in 1993, served in key roles within the company’s Global Client Management division before being named CEO of Alternative Investment Services in 2009.  He is a member of the advisory boards of The UCD Michael Smurfit Graduate School of Business in Dublin and The Frank G. Zarb School of Business in New York.

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