InTrust Fiduciary Joins CAPTRUST
CAPTRUST Financial Advisors announced that the InTrust Fiduciary Group, which specializes in institutional retirement consulting, has joined the CAPTRUST family.
InTrust offers fiduciary guidance in various aspects of retirement plan management. It specializes in recordkeeping provider analyses, plan design and benchmarking, and investment policy.
“Regulatory mandates are evolving within our industry, but InTrust’s fiduciary duty never wavers,” says company President Michael Maresh. “Joining CAPTRUST, a firm that shares the same core beliefs and values, provides us with the resources necessary to strengthen and broaden the services we provide for our clients, while continuing our commitment to serve as their advocate and trusted planning partner. We are extremely excited for this partnership.”
The move marks CAPTRUST’s entry into Austin, Texas, following its move into Dallas and Houston.
CAPTRUST offers advisory teams numerous resources designed to accelerate growth and add value to the client experience. It now has 120 advisers across 35 locations and advises on approximately $229 billion in client assets.
NEXT:Nuveen Expands DCIO Business
Nuveen Expands DCIO Business
Asset management firm Nuveen is growing its Defined Contribution Investment Only (DCIO) business with the addition of several executives.
Kate Jonas will serve as leader of the Consultant Relations team. She will support the firm’s efforts in the defined contribution (DC) and defined benefit (DB) plan markets. She joins from BlackRock’s Global Client Group, where she led DC consultant relations for the institutional DC team covering the United States and Canada.
Christine Stokes joins as head of Retirement Practice Management responsible for supporting the distribution growth strategy. She has worked at Voya Investment Management where she was a senior product manager focusing on multi-asset solutions for the institutional, intermediary and affiliate businesses.
Daniel Noschese who joined the DCIO Sales team will work with retirement specialists in the Midwest. Formerly with Putnam Investments, Noschese served as a Defined Contribution Investment Specialist where he was responsible for external DCIO sales for the Midwest region.
Matthew Kasa also joined the DCIO Sales team. She is responsible for DCIO sales and retirement adviser development in the Southwest. Most recently, Kasa was a vice president for DCIO sales in the southwestern United States with American Century Investments.
Ashish Gandhi will join in mid-May with responsibility for DCIO Institutional Sales. He will execute Nuveen’s new business development efforts directed at large institutional clients representing Nuveen’s full suite of capabilities including its target -date offerings to DC plan sponsors. Gandhi was previously a director within LMCG Investments’ institutional business.
Nuveen’s DCIO team works in consultation with plan sponsors, consultants and retirement plan advisers to evaluate the investment menus of retirement plans and identify ways to improve outcomes for plan participants.
NEXT: Stadion Names Chief Business Development Officer
Stadion Names Chief Business Development Officer
Stadion Money Management has appointed Todd Lacey as chief business development officer of Stadion’s retirement business. This newly created position will entail overseeing the relationships with Stadion’s current retirement recordkeeping partners, as well as identifying and developing new channels of distribution and product development within its expanding retirement business.
“In recent years, we’ve seen growing demand from the financial adviser community to broaden our suite of retirement products,” says Jud Doherty, Stadion’s president and CEO. “Todd brings extensive experience in this industry, making him the ideal addition to Stadion’s leadership team as we expand our already deep footprint in the retirement space.”
Lacey brings 20 years’ experience in the retirement industry to Stadion. He previously held several leadership roles at Transamerica, most recently serving as EVP of Strategy and Corporate Development for Investments and Retirement. Prior to Transamerica, Lacey was president of The (k)larity Group, a retirement plan advisory firm and 2010 PLANSPONSOR Retirement Plan Adviser Team of the Year finalist.
Stadion also announced that Kerr McGowan has been promoted to SVP, Retirement Solutions. In this new role, Kerr will be leading the implementation and development of retirement products. Kerr has been with the firm for more than 10 years, having a key role in retirement product development and relationship management.
NEXT: SSGA Expands SPDR Business
SSGA Expands SPDR Business
State Street Global Advisors (SSGA) has announced two new additions to its SPDR business. Noel Archard has been named head of global SPDR product, and Seth Morrison has been named head of global SPDR marketing.
Archard will be responsible for product strategy, innovation, range and lifecycle management for the global SPDR ETF business. He brings to this newly created role more than 20 years of experience in global asset management. Most recently, he was country head of BlackRock in Canada. In this position, he was responsible for growing the company across all business lines within this market. He also worked for Vanguard, where he helped build and establish the firm’s ETF programs. He is a graduate of Northwestern University and a CFA Charterholder.
Also in a newly created role, Morrison will be responsible for all marketing activities across the SPDR business in North America, EMEA and APAC. He joins SSGA from Vanguard where he served as head of Flagship Business Development Group, the high net-worth sales group for their U.S. Retail business. Prior to this, Morrison was head of Vanguard’s International Marketing team. Previously, he spent more than 10 years at Franklin Templeton where he held multiple global executive roles in marketing and product distribution.
“Both of these new roles demonstrate our commitment to expanding the reach and relevancy of SPDR value-added services and our broad range of ETF investment capabilities to institutional and intermediary clients,” says Nick Good, co-head of the global SPDR business.
NEXT: Segal Group Names Chief Actuary
Segal Group Names Chief Actuary
Eli Greenblum has been named The Segal Group’s Chief Actuary.
Greenblum brings more than 30
years of managerial and actuarial consulting experience to his new role. He is
a member of several actuary organizations including the Society of Actuaries
and member of the American Academy of Actuaries. He recently served as vice
president for the American Academy of Actuaries.
“The Chief Actuary has overall responsibility for The Segal Group’s actuarial services, including overseeing quality and establishing policies,” says President and CEO David Blumenstein. “Eli has a wealth of actuarial experience advising multiemployer, public-sector and single-employer plans.”
NEXT: Neuberger Berman Names Head of ESG Investing
Neuberger Berman Names Head of ESG Investing
Independent, employee-owned investment manager Neuberger Berman has named Jonathan Bailey as head of Environmental, Social and Governance (ESG) investing.
Bailey will work with the firm's investment teams and research departments to further incorporate ESG principles into the equities, fixed income and alternatives platforms. He also will help portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets. In addition, he will chair the firm's ESG Investment Advisory Committee.
Bailey joins Neuberger Berman from Focusing Capital on the Long Term, a think tank. Beforehand, he served as associate partner at McKinsey & Company where he advised pension plans, asset managers, and other finance institutions on a range of issues related to investment strategy, organizational structure and ESG integration. He’s also worked on sustainability and governance investment projects for both former Vice President Al Gore and former British Prime Minister Tony Blair.
The firm notes that integration of ESG factors into investment analysis and portfolio construction can be valuable in identifying companies whose sustainable business models and risk management cultures may afford attractive long-term investment opportunities.
NEXT: Putnam Hires Head of Sustainable Investments
Putnam Hires Head of Sustainable Investments
Katherine Collins has joined Putnam Investments as head of Sustainable Investing. She will be tasked with overseeing the firm’s environmental, social and governance (ESG) investment business, which is expected to include managing strategies for institutional and retail mutual fund clients. She also will responsible for driving overall thought leadership on the topic.
Previously, Collins was CEO of Honeybee Capital, a research firm focused on ESG investment issues. Earlier, she worked for Fidelity Management and Research Company from 1990 to 2008. Her roles included portfolio manager for the Fidelity America Funds, where she launched a pilot investment fund with a sustainable and socially responsible mandate. She was also a director of Equity Research and portfolio manager for the Fidelity MidCap Funds.
“Investing through the lens of environmental, social, and governance is redefining what asset management can accomplish,” says Robert L. Reynolds, Putnam’s president and chief executive officer. It is a concept that is becoming increasingly synonymous with good long-term investing and is serving to help identify opportunities. Katherine’s proven leadership and expertise will ensure we continue to move to the forefront of this rapidly growing field.”
She earned a master’s degree in Theological Studies from Harvard Divinity School and a bachelor’s degree with honors in economics and Japanese Studies from Wellesley College. She also holds the Chartered Financial Analyst designation.
NEXT: Janney Montgomery Scott Expands Fixed Income and Mortgage Trading Desks
Janney Montgomery Scott Expands Fixed Income Business
Janney Montgomery Scott, a full-service wealth management and investment banking firm, is expanding its Fixed Income division with the addition of several industry professionals.
Brittany Broccard, Jamie Carlson, Robert Fink, Michael Foley, Sanford Goldstein and Ross Heller joined Janney’s Fixed Income team.
Broccard joins from the CD/Structured Products group from Edward D. Jones, where she worked as a CD and Rates Trader.
Carlson, formerly with CL King & Associates, joined the firm as a director. With more than 30 years of experience in the fixed income market, he has held a variety of sales and management positions throughout his career. Fink, his former colleague at CL King & Associates, also joined as a director. He previously held sales positions at Mesirow, Cantor, RBS Greenwich Capital and Barclays.
Foley joins Janney from INTL FC Stone/GX Clarke as a director in the firm’s Securitized Sales group.
Goldstein also joins from CapRok Capital as director in the Securitized Sales group. Previously, he held positions at DLJ and Kidder Peabody.
Ross Heller, formerly with Bay Crest Partners, joined Janney as a managing director in its Securitized Sales group. He previously held sales, trading and structuring positions at RBC Capital Markets, Nomura, JP Morgan and Merrill Lynch.
“As Janney continues to expand its platform, we are excited to welcome such a seasoned lineup of fixed income professionals to our team,” says Michael McNamara, head of Fixed Income Sales. “We’re confident that Brittany, Jamie, Robert, Michael, Sanford and Ross will advance Janney’s position in the market ensuring that clients receive the highest level of service, advice and guidance.”
NEXT: PSCA Names Executive Director
PSCA Names Executive Director
John M. (Jack) Towarnicky has joined the Plan Sponsor Council of America as the organization’s executive director.
Before joining the PSCA, Towarnicky was a visiting assistant professor of management at Duquesne University. Prior to teaching, he served in a benefits compliance role at Willis Towers Watson. He’s also led the corporate benefits function at Nationwide Mutual Insurance Company. Moreover, he’s served in benefits leadership roles at several companies including Oil E&P, Cooper Industries, and Marathon Oil. He has also served on boards of several benefits trade associations including the American Benefits Council, World at Work, the Corporate Board of the International Foundation of Employee Benefit Plans, and the Council on Employee Benefits.
“Jack brings both experience at employee benefits trade associations and with plan sponsors,” says Stephen McCaffrey, PSCA Board Chairman. “After an extensive search, we are pleased to find a leader with deep experience who can continue the growth and success of our organization.”
NEXT: Former BlackRock Exec Launches Retirement Readiness Firm
Former BlackRock Exec Launches Retirement Readiness Firm
Laraine McKinnon, former managing director at BlackRock is departing her roll and taking lead at her new firm named LMC17. She announced the company is determined to bring an independent perspective and heightened focus on building effective retirement readiness programs. It will serve several players in the industry including asset managers, advisers, recordkeepers, and select plan sponsors.
Based in Silicon Valley, LMC17 will also focus on diversity and inclusion programs designed to help local technology firms onboard, retain and promote diverse talent.
"It's a critical time for financial services firms to re-frame their value proposition and understand how to deliver best practice 401(k) services to large and small American companies,” says McKinnon “There's increased pressure – from the regulatory environment to shifting demographics to a very competitive FinTech marketplace – and companies need to figure out how they're going to deliver retirement to millions of participants. LMC17 builds custom strategic sales programs that capitalize on a provider's strengths."
McKinnon is a retirement readiness expert who has served leadership roles at BlackRock, Barclays Global Investors, and Wells Fargo Nikko Investment Advisors. Her thought leadership includes optimizing 401(k) plan design, sophisticated data analytics and apps, employee engagement through financial wellness, workforce strategy, and removing behavioral roadblocks.
McKinnon also builds diversity and inclusion programs to help firms and individuals. She is the founder of a women's leadership incubator in Silicon Valley and sits on the Board of The CLUB Silicon Valley. She earned a bachelor’s degree, cum laude, in political science and women's studies from Wellesley College.