Retirement Industry People Moves

Art by Subin Yang

Transamerica Promotes Division VP

Transamerica has promoted Darren Zino to national sales director for mid-market retirement plans. He will report to Joe Boan, chief sales officer for Transamerica. In his role, Zino will oversee Transamerica’s wholesale distribution efforts for retirement plans with $50 million or less in assets.

Zino is a Transamerica veteran, and previously filled the role of division vice president. With two decades of experience in retirement plans, he has dedicated his career to helping people make the connection between their wealth and health. He holds a bachelor’s degree in economics from the University of Florida.

“Transamerica’s momentum continues to grow, and having Darren leading our sales efforts within the mid-market retirement plan business only bolsters that momentum. He is a proven, highly-proficient leader that cares deeply about people being financially prepared for retirement,” says Boan. “His dynamic and energetic leadership style complements Transamerica’s efforts in this very important market space. I have every confidence financial advisers and third party administrators will benefit from his expertise and guidance.”

TRA Hires Past Sales Manager to Newly Created Role

The Retirement Advantage, Inc. (TRA) hired Craig Harm in a newly created position as key account manager. Harm’s primary focus will be developing, servicing and growing trusted relationships with a portfolio of major recordkeeping, institutional investment, broker-dealer and payroll partners. He will report to Jeff Schreiber, TRA’s director of Sales.

“We are delighted to welcome Craig to an already strong team and look forward to having our partners and clients receive added value through the experience and insights he brings. Craig is a respected addition to our growing business and will be playing a key role in ensuring the success of TRA,” says Schreiber.

Harm joins TRA with over three decades of expertise in the financial services industry. He had multiple roles with Fidelity Institutional Asset Management Division as SVP relationship manager, SVP divisional sales manager and wholesaling experience.

Harm received a bachelor’s degree from Oklahoma State University and his master’s in business administration from University of Dallas. Harm has his FINRA Security Licenses – Series 24, 7, 6 and 63 Registrations. 

Lightyear Announces Series of Promotions  

Lightyear Capital LLC (Lightyear), a New York-based private equity firm focused on financial services investing, has announced several promotions across the firm.

Boris Rapoport has been promoted to managing director and appointed to Lightyear’s Investment Committee; Natalie Ings to managing director; Doug Chiciak to chief compliance officer; Jason Ehrlich to principal; and Will Benton and Tim Wang to senior associates.

“Lightyear’s talented professionals are the foundation of our success and we are pleased to recognize the contributions of these individuals in creating value for our investors,” says Mark Vassallo, managing partner of Lightyear.

The Pension Bridge Moves to Pageant Media

Pageant Media has acquired The Pension Bridge, a company helping institutional money managers connect with pension funds through their two flagship industry events: The Pension Bridge Annual and The Private Equity Exclusive.

The founders of The Pension Bridge, Andrew Blake and Brett Semel, will remain with the business and continue to run operations out of Florida.

“We’re proud to have the backing of a respected firm that will add value to our brand,” says Semel. “An industry leader in global information products combining forces with an industry leader for institutional investment conferences will certainly strengthen both firms”. 

Andrew Blake echoed his co-founder’s comments: “Working with Pageant Media will instantly enhance all products, which will in turn create an even stronger whole than the sum of the parts, with even more exciting and innovative content on the horizon.”

Former PBGC Counsel Joins The Wagner Law Group

Marcia Wagner, the managing director of The Wagner Law Group, has hired attorney Israel Goldowitz as partner. “Our amazing team of attorneys is now joined by one of the nation’s foremost experts in employee benefits, whose vast experience, including as chief counsel of the PBGC, speaks for itself. We are extraordinarily proud to welcome Izzy,” says Wagner.

Goldowitz has acquired 35 years of experience in employee benefits, most notably with mergers and acquisitions, restructuring, and bankruptcy as they affect pension plans. He began his career with the United Mine Workers of America Health & Retirement Funds, a group of multiemployer plans. While serving as deputy general counsel, Goldowitz also oversaw the development of regulations and other guidance for the PBGC single-employer and multiemployer insurance programs and advised Congress on legislative proposals affecting those programs. Additionally, he advised on retirement security in general, including new models for improving employee coverage while limiting employer cost and exposure.

Goldowitz is a member of the Board of Governors of the American College of Employee Benefits Counsel and is active in the International Pension and Employee Benefits Lawyers Association. He served on the Labor and Benefits Advisory Committee to the American Bankruptcy Institute’s Chapter 11 Reform Commission and co-wrote the report of the pension subcommittee. Goldowitz has taught in the Georgetown University Law Center Masters of Law program since 1991 and is a member of the John Marshall Law School Employee Benefits Advisory Board. He earned his juris doctor from George Washington University National Law Center and his bachelor’s degree in history from Boston University.

Fiduciary Trust Company Hires Adviser

Fiduciary Trust Company, a wealth adviser and investment management firm for high-net-worth individuals and nonprofits, has hired Jennifer Joyce, CFA, as vice president and investment officer.

Joyce joins Fiduciary Trust from Brown Advisory where she was a principal, client adviser, and associate portfolio manager. Previously, she was a vice president at Goldman Sachs and has also held positions with BlackRock, AllianceBernstein, and Geneva Global.

“We are delighted to have Jen join our team of experienced professionals,” says John Morey, head of Client Service and Business Development. “Her investment and client service experience will expand our ability to provide customized advice and personal service to our clients.”

Joyce is a member of the CFA Society Boston and the Chartered Financial Analyst Institute. She earned a bachelor’s degree in economics from Cornell University and has also studied at the London School of Economics.

HB&T Names CIF Sales Consultant

Hand Benefits & Trust (HB&T), a BPAS company, has added Chris Hewitt as sales consultant, Institutional Trust. Hewitt will deliver the full suite of the HB&T Collective Investment Fund (CIF) solutions to asset managers, retirement plan advisers and recordkeepers across the nation.

“We’re very pleased to have Chris join our team and look forward to extending HB&T CIF solutions to his plan adviser relationships,” says Stephen Hand, HB&T president. “Chris is already well established in the CIF community. His knowledge and reputation, coupled with our robust stable of world class asset manager sub advisers with long tenured track records will bring tremendous fee-transparency, flexibility, customization and another layer of fiduciary oversight to plan sponsors.” 

Collectives are built specifically for retirement plans and therefore have benefits above and beyond traditional 40-act funds. “CIFs generally provide for lower expense ratios, flexibility with underlying securities, and simplified 404(a)(5) compliance, which make it easier for clients to achieve their retirement goals,” adds Hand.

Prior to joining HB&T, Hewitt held defined contribution investment only (DCIO) positions with PNC Capital Advisors, Emerald Advisors, and Sentinel Investments. He is an accredited investment fiduciary (AIF) and earned his bachelor’s degree from Drexel University.

Buck Names Chief Actuary  

Buck named Tonya Manning as U.S. wealth practice leader and chief actuary. In this role, she will oversee Buck’s direction relative to trends, technical issues, professional standards, and policies and procedures for the wealth practice, including defined contribution (DC) consulting, traditional defined benefit (DB) services, investments, financial risk management, and data remediation.

Beginning in January 2019, Manning will also serve as president elect for the International Actuarial Association.

Manning previously served as chief actuary and retirement leader for Buck’s U.S. Wealth practice. Prior to joining Buck, Manning worked as a policy actuary at the U.S. Department of Treasury, where she was involved in employee plans, including participating in regulation projects and reviewing ruling requests. 

Manning also serves a lecturer at Columbia University’s master’s program in actuarial science, where she developed and continues to teach its pension course. Additionally, she is an active volunteer in the actuarial profession, a member of The Actuarial Foundation’s Board of Trustees, and previously served as president of the Society of Actuaries. 

Pentegra Announces DC Client Services VP

Pentegra has promoted Vishi Jones to vice president, Defined Contribution Client Services. As vice president, Jones will oversee the management of Pentegra’s defined contribution (DC) relationship management team, participant call center, compliance and client transition teams, responsible for the day-to-day service and administration of Pentegra’s defined contribution clients, participants and adviser-partners. 

“Vishi and her team play a critical role in the service and support of our most important asset—our clients and adviser-partners—ensuring that we are fully supporting and engaging with them in an impactful way each and every day, elevating the end-to-end experience for our customers,” says Pentegra Senior Vice President and Chief Operations Officer Michael Palmiere.

Jones joined Pentegra in 2005 as an account representative and was quickly promoted to a director role, and then to assistant vice president.

Prior to joining Pentegra, she served as a consultant with a third-party administration (TPA) firm, ATR, Inc., where she honed her knowledge and retirement plan expertise by working on all aspects of retirement plans. 

Jones is a graduate of Ohio Wesleyan University, where she earned a bachelor’s degree in economics management with a minor in accounting. She also holds the ASPPA Qualified 401(k) Administrator (QKA) designation.