Malvey will also be director of the newly formed BNY Mellon Center for Global Investment & Market Intelligence. He will lead a team responsible for capturing and researching investment trends, market activity and economics.
Malvey
reports to Curtis Arledge, vice chairman of BNY Mellon and chief
executive officer of its asset management business. Malvey will focus on
developing a global investment and market knowledge platform that will
help capture and communicate the investment opinion and analysis from
across the investment firms that comprise BNY Mellon Asset Management.
Malvey earned his bachelor’s degree from Georgetown University and studied
graduate economics at the New School for Social Research in New York.
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AXA Equitable Life Insurance Company is launching the Retirement Gateway, a group variable annuity to fund retirement plans
for the small- to mid-size market.
Retirement Gateway includes a range of investment options;
fiduciary support; administration support and service; and ongoing,
interactive and customizable employee education and service. AXA said Gateway
supports other retirement benefit plan types including profit-sharing,
age-weighted/new comparability plans, money purchase plans, Safe Harbor
plan provisions and a Roth 401(k) feature.
A choice of Target Date and Risk-Based Asset Allocation Portfolios;
Individualized investment options that include active, passive (index) and multi-manager styles;
A Guaranteed Investment Option (GIO) with a guaranteed fixed rate of return;
A Stable Value Fund that offers potential for principal protection with investment diversification; and
Automatic Asset Rebalancing.
The announcement said Gateway’s investment options can
satisfy Safe Harbor provisions under ERISA Section 404(c) provisions,
including Qualified Default Investment Alternatives (QDIAs).
With Gateway, plan sponsors can choose from co-fiduciary
or full fiduciary services for investment selection and monitoring
offered by an independent third-party investment advisory firm. Sponsors
receive quarterly plan reports including investment updates, a model
investment policy statement, a performance summary, a review of
investment alternatives, a summary of changes and additions, and an
investment watch list.
The plan also offers a choice of bundled and unbundled
recordkeeping services. With the bundled service option, an AXA
Equitable retirement account manager and plan design specialist work
together to create a retirement plan based on the company's objectives
and employee base. With the unbundled services, sponsors choose their
own Third-Party Administrator (TPA), and AXA Equitable works with the
TPA to prepare compliance forms, plan testing and reports.
Gateway provides a secure, Web-based automated
recordkeeping platform to help minimize recordkeeping tasks, increase
accuracy and reduce data entry time. The platform provides online
reporting capabilities and enables sponsors to submit enrollment data
for new plan participants; update plan information; perform numerous
transactions; and access plan reports and forms.
AXA Equitable has created a proprietary education program
to support the Gateway plan. The centerpiece is a multi-media online
interactive tool that can be customized to the plan and individual
participants. Participants can match appropriate investment options to
their goals and risk profile. In-person enrollers and financial
professionals provide additional support to the sponsor and the
participant.