Retirement Industry People Moves

TIAA announces additions to executive committee; TRA acquires retirement plan administrator; and Compass Advisors names retirement services director.

Art by Subin Yang

TIAA Announces Additions to Executive Committee

TIAA has added two company leaders to its Executive Committee reporting to TIAA President and Chief Executive Officer Roger W. Ferguson Jr.  

Martha Willis, currently Nuveen chief marketing officer, has been named chief marketing officer for TIAA, where she will oversee marketing, brand and corporate communications across TIAA, TIAA Bank and Nuveen. Doug Chittenden, head of Institutional Relationships, will also serve as chair of the TIAA Financial Solutions (TFS) Senior Leadership Team. These changes are effective immediately.

“As we take steps to operate in a more streamlined and integrated way for the benefit of our participants, we have in Marty and Doug two highly accomplished, client-focused leaders,” Ferguson says. “They will concentrate on activities with the highest impact for delivering excellence and financial security to our institutional and individual clients. Marty and Doug have devoted their careers to building and maintaining long-term client relationships, and I couldn’t be more pleased to recognize their contributions to the business.”

Willis has more than 30 years of experience as a marketing, distribution, product development and business strategy leader, including roles at OppenheimerFunds, Fidelity Investments and MFS. She has earned numerous industry awards for her marketing and branding campaigns. Since joining the company in 2016, she has overseen the development of client and product marketing, corporate and investment communications, and digital and brand strategies.

In his role, Chittenden will partner closely with his TFS senior leadership colleagues and ensure the needs and perspectives of TFS are well-represented at the Executive Committee level. Chittenden continues to manage the company’s Institutional Retirement business.

TRA Acquires Retirement Plan Administrator

The Retirement Advantage Inc. (TRA) has acquired PlanTech LLP.

PlanTech provides full-service, employer-sponsored retirement plan administration and consulting, and assists employers and their advisers in the design, implementation, administration and communication of retirement plans.

“Our acquisition of PlanTech complements our overall strategy of providing flexible, market-leading solutions to our clients,” says Matt Schoneman, president of TRA. “The acquisition leverages many of TRA’s existing capabilities, and we look forward to the opportunity to serve our new joint clients.”

“We are pleased to announce the transaction as it ensures the continued support and enhancement of services for current and future clients over the longer term,” say Tom Powell and Benny Paternostro, owners of PlanTech LLP, in a statement. “TRA is the perfect fit for us. We share a common culture of providing outstanding, personalized service to our clients and advisers as well as an ongoing desire to integrate the necessary tools and technology to ensure each plan’s success. We look forward to the additional resources that will be available to us and are very enthusiastic at what the future holds for both of our firms.” 

Compass Advisors Names Retirement Services Director

Compass Advisors has added Brendan Hyde as the director of Retirement Services. 

“The current economic reality has highlighted the importance of savings and retirement planning for so many individuals and families,” says Michael Cuneo, managing partner of Compass Advisors. “Brendan has a long record of success in delivering results—and we are proud to welcome him to our team. His experience and vast knowledge base is going to be a tremendous asset to our clients.”

As director of Retirement Services at Compass Advisors, Hyde will act as a fiduciary and consultant to small and large businesses alike, assisting owners and executives to maximize their employer-sponsored plans. With a focus on qualified and non-qualified plans alike, he will be working with plan sponsors to maximize their corporate plans.

“Businesses of all shapes and sizes, including large institutions, are faced with challenges when offering a corporate retirement plan. By joining Compass Advisors and acting as a fiduciary for our clients, I am looking forward to bringing my years of institutional retirement plan consulting experience to the firm and partnering with business owners, helping them build and manage their retirement plan programs that will enable their employees to retire successfully,” Hyde says. 

Hyde earned his bachelor’s degree in economics from the State University of New York at Cortland. He holds the Accredited Investment Fiduciary (AIF) designation through the Center for Fiduciary Studies as well as the Chartered Retirement Plan Specialist (CRPS) from the American College of Financial Planning. Prior to joining Compass Advisors, Hyde worked institutionally with Transamerica Retirement Solutions and The Principal Financial Group.