New president for Ivy Distributors Inc.
As Thomas Butch steps down as executive vice president and chief marketing officer of Waddell & Reed Financial Inc., and as president of Waddell & Reed Inc. (WRI) and Ivy Distributors Inc. (IDI), the company announced the appointment of Nikki Newton as the new president of IDI.
IDI is a subsidiary that supports the distribution of the Ivy Funds. Newton, who has 25 years of industry experience and has been with the company since January 1998, currently serves as head of global relationship management for IDI, covering national accounts and consultant relationships, as well as institutional sales.
In the new role, Newton will lead wholesale and institutional distribution, and sales and product development, as well as manage strategic relationships.
Also effective immediately, Shawn Mihal will become president of WRI, a registered broker/dealer subsidiary that offers securities and insurance products and investment advisory services through financial advisers located throughout the U.S. Mihal currently serves as chief operating officer of WRI, after joining the company in March 2015 as chief regulatory officer and chief compliance officer. Mihal has 18 years of industry experience and will be responsible for all aspects of the company’s broker/dealer operations.
In conjunction with these appointments, the company announced several additional changes to its executive team: Brent Bloss is promoted to the role of chief operating officer, and Benjamin Clouse will be appointed chief financial officer to succeed Bloss in 2018.
John Hancock Retirement Plan Services creates large plan team
John Hancock Retirement Plan Services (JHRPS) announced the formation of a cross-functional leadership team charged with enhancing the delivery of customized retirement plans that meet the unique needs of clients in the large plan market.
The team includes Thomas Shanley, divisional vice president, strategic relationship management and large market segment lead; Christopher Messina, vice president of institutional sales; and Willson Moore III “Chip,” national consultant relations.
According to the firm, coordination among the team, which had occurred informally prior to the announcement, serves to provide a more seamless experience for advisers and consultants. The structure will deliver “on-point business strategy and service to clients that have a large participant base, multiple plan types, along with operational, risk mitigation, and fiduciary challenges.”
Each member of the new team brings decades of experience. Shanley is responsible for formally establishing John Hancock RPS large plan segment’s strategic direction and overseeing execution of the comprehensive service model. Previously, he served as vice president, relationship manager both at JHRPS and New York Life Retirement Plan Services. Shanley has more than 22 years of experience in the financial services industry with an emphasis on corporate retirement plans. He holds a bachelor’s degree from Rhode Island College, holds a FINRA Accredited Retirement Plan Consultant (ARPC) designation and maintains his FINRA Series 7 and 63 registrations.
With more than 20 years’ experience in the retirement services industry, including more than 17 years in implementation, new business, and sales, Messina is responsible for facilitating the development of strategic partnerships with intermediaries and new clients dedicated to the large plan market. He received a bachelor’s degree in economics from the University of Massachusetts at Lowell and a master’s in business administration from the F.W. Olin Graduate School of Business at Babson College. In addition, he maintains FINRA Series 6 and 63 registrations and a Massachusetts life insurance registration.
Moore, who joined the organization in 2016 with more than 30 years of retirement plan industry experience, is focused on building and engaging relationships with the top-tier U.S. national and regionally oriented retirement plan consultants and investment advisers serving the large and mega plan market segment. He received a bachelor’s degree in political science from Ripon College, and maintains both FINRA Series 7 and 63 registrations.