Deals & People January 6, 2009

Millennium Trust Offers Automatic Rollover IRA Solution through WMSI

Millennium Trust Company, a provider of IRA administrative and custody services, announced it has joined Wealth Management Systems Inc.'s (WMSI) Rollover Network.
Reported by

According to the announcement, through WMSI’s Rollover Solution Network, third-party administrators and plan sponsors will be able to select Millennium’s Automatic Rollover IRA solution and systematically rollover plan assets for missing and nonresponsive participants of active and terminating plans.

“We are always looking for ways to expand the distribution of our Automatic Rollover IRA solution so we are quite pleased to partner with Wealth Management, a clear leader in the TPA rollover space,” said Scott McCartan, CEO of Millennium Trust, in the announcement.

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More information about Millennium Trust is available at www.mtrustcompany.com, and more information about WMSI is availalbe at www.wealthmsi.com.

Deals & People January 6, 2009

New York Life Installs Siciliano in Investment Post

John Siciliano has been named as a New York Life Investments senior managing director and head of the firm's investment boutiques.
Reported by

Siciliano will be responsible for all activities related to the firm’s external asset management business including the operations and activities of the company’s five external asset managers: Madison Square Investors LLC, MacKay Shields LLC, McMorgan & Company LLC, New York Life Capital Partners LLC, and Institutional Capital LLC, according to the announcement.

In the newly established role, Siciliano will report directly to John Kim, president and CEO of New York Life Investments. “This is a critical position as it is responsible for oversight of the management, product development, investment performance and core distribution activities of our asset management affiliates,” said Kim, in the announcement.

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Previously, Siciliano was with Grail Partners LLC, a merchant banking firm, which invests and advises in asset management and related financial technology businesses, including specialty finance and structured products. From 2005 through 2007, he served as chairman and chief executive officer of BKF Capital Group, Inc., a NYSE listed money manager.

Siciliano began his career with Morgan Stanley in its corporate finance division in 1979, and subsequently had roles at Smith Barney, Prudential Securities, and Dresdner Kleinwort Benson.

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