Retirement Industry People Moves

SPARK Institute Elects New Governing Board

The SPARK Institute announced its governing board elections, naming T. Rowe Price retirement plan services leader Kevin Collins as chair to succeed outgoing Lincoln Financial head of retirement plan services Ralph Ferraro.

“We are excited to welcome Kevin as our incoming chair and deeply appreciate all the time and dedication Ralph has shown to the SPARK organization,” Tim Rouse, Executive Director of the SPARK Institute, said in a statement. “During Ralph’s tenure as Chair that began in 2020, the SPARK Institute has achieved significant legislative and regulatory success – particularly with the passage of the most recent SECURE 2.0 Act.”

In September, SPARK’s Advisory Board voted to expand on its mission to include promotion of financial literacy to all Americans, Collins said in the announcement.

“I look forward to helping our organization take this and other challenges head on,” he said.

The Washington DC-based retirement plan services industry group named as vice chair Joseph Smolen, senior vice president of core and institutional markets at Empower.

The SPARK Institute is managed by a Governing Board of twelve firms represented by: Allspring Global Investments, Ameritas Life Insurance Corp, Ascensus, BlackRock, Corebridge, Empower, FIS Global, J.P. Morgan Asset Management, Lincoln Financial Group, PGIM, SS&C, and T. Rowe Price. Collectively, its members serve approximately 100 million participants in 401(k) and other defined contribution plans.

BPAS Promotes Jason Disco to Lead Defined Benefit Sales and Service

Retirement and benefit provider BPAS has promoted Jason Disco to senior vice president of sales for its actuarial & pension services division.

Disco joined BPAS in 2015 and has created key partnerships to expand the firm’s actuarial and pension services business, the firm said in the announcement. He also helped develop the firm’s DB360 product, which offers DB solutions to clients of all sizes, as well as introducing other products and services that BPAS offers through its parent, Community Bank System Inc., according to a press release.

Disco will be based in the company’s Syracuse, New York-headquarters.

Marshberry Adds Rob Madore as Vice President, Financial Advisory

Investment banking and consulting firm MarshBerry added Rob Madore as vice president, financial advisory, according to an emailed press release.

Madore has joined the financial advisory division that uses proprietary market data, analysis, and insights to guide clients future planning including internal succession and mergers and acquisitions in the insurance distribution and wealth and retirement plan advisory markets.

Before MarshBerry, Rob was a director at Wise Rhino Group, the M&A retirement industry advisory firm. He also held positions at WebMD Health Services and Questis Inc.

“Rob’s transition to MarshBerry further strengthens our mission to be the advisory of choice for the insurance and wealth management industries,” Phil Trem, president, financial advisory at MarshBerry, said in a statement. “Wealth advisers and retirement plan advisers value Madore and his personalized approach to building long-term relationships and his understanding of how to help grow their businesses.”

Madore also played professional hockey with the Toronto Maple Leafs organization, Woodmere, Ohio-based MarshBerry noted.

“The principals of successful leadership and teamwork remain the same whether you’re playing hockey or working on strategic growth initiatives,” Madore said in a statement. “Strong communication, cooperation, building trust, and the ability to form and maintain tight-knit relationships are the key to any group’s success.” 

GW&K Investment’s Fixed Income Co-Director Nancy Angell to Retire

GW&K Investment Management said that Nancy G. Angell, co-director of fixed income investments, will retire at the end of the year after 39 years at the firm.

Angell has been a member of the firm since 1984 and was promoted to portfolio manager and partner of the municipal bond team in 1989, the firm said. In 2001, Angell and John Fox were appointed co-directors of fixed income. In this role, she has shared responsibility for the management of fixed income assets, including portfolio management, research, and trading.

Angell will continue to work with the municipal bond investment team through December 2023, according to the Boston, Massachusetts-based firm.

“For 39 years, Nancy has been an integral member of the firm,” Tom Powers, Co-CEO of GW&K said in a statement. “Her investment expertise, steady leadership and dedication to clients has helped shape the municipal bond team and investment process at GW&K.”  

David Layo of Delphi Wealth Joins Lincoln Financial Network

Lincoln Financial Network, the retail wealth management business of Lincoln Financial Group, announced that David Layo of Delphi Wealth Management Group is joining the network.

Layo will join the network for advisory support and wealth management services after being with Citadel Credit Union for over 17 years, according to the announcement. Layo has managed about $125 million in client assets over the course of his career, and will be based out of Chester County, Pennsylvania for the Radnor, Pennyslvania-based Lincoln Financial.

Investing and Banking App Stash Names Liza Landsman CEO

Online banking and investing firm Stash has named former BlackRock Inc. and E-Trade Financial Corporation executive Liza Landsman CEO starting on February 6.

Landsman, an independent Stash board member since mid-2022, is moving on from a role as general partner at global venture capital firm NEA, according to the New York-based consumer saving and investing firms.

Landsman has served in key operations and leadership roles at companies including Jet.com and Citigroup, where she led record-breaking growth in consumer engagement and profitability, according to the announcement.

“Stash empowers millions of Americans to manage and grow their wealth. Its simple-yet-disruptive subscription platform, rooted in a deep commitment to the financial well-being of our customers, is exactly what millions of everyday Americans need today,” Landsman said in a statement.

Stash was founded by former CEO Brandon Krieg and President Ed Robinson. The firm has over 2 million subscribers, $3 billion in assets on the platform, and saw revenue growth of 30% to $100 million in 2022, according to the firm.  

Krieg will move into the role of head of business development, and Robinson will keep his current role of president.

The Standard Names Jared Hyman Regional VP for Retirement Plans

The Standard announced the hiring of Jared Hyman as a regional vice president in Florida for retirement plans to work with advisers and third-party administrators.  

Hyman held previous roles as an external wholesaler, internal wholesaler and relationship specialist, according to the Portland, Oregon-based retirement solutions and insurance provider. He has more than nine years of experience in the retirement plan and financial service industry.

BNP Paribas Asset Management Names Geoff Dailey Deputy for U.S. Equities

BNP Paribas Asset Management has named Geoff Dailey deputy head of U.S. equities, effective February 1. He will succeed Pamela Woo following her planned retirement at the end of June 2023.

Dailey previously worked alongside Woo as a senior portfolio manager, according to the Pari-based asset manager. He has also held positions with Pioneer Investments and Eaton Vance. 

“Geoff has more than 20 years’ experience in the industry and as a key, senior member of the team with a strong investment pedigree and leadership profile, he is the natural successor for Pam [Woo],” Guy Davies, CIO, fundamental active equities, said in a statement. “This succession and transition has been well anticipated and there will be no change to the team’s established investment process and philosophy.” 

Radcliffe Capital Hires Peter Duffy as Director of Investments

Radcliffe Capital Investment Management hired Peter Duffy as director of investments, effective January 27, the firm announced in a press release.   

Duffy was previously CIO at Penn Capital Management Company, responsible for managing the firm’s $1 billion in assets credit team, according to the announcement. Duffy was lead portfolio manager for credit strategies, including short duration high yield, opportunistic credit and leveraged loans, according to the Bala Cynwyd, Pennsylvania-based firm.

Radcliffe also promoted to managing director Ryan Adams, Michael Gordon and Peter Rudnick, the company said.

Radcliffe manages $4.2 billion in assets under administration for institutional investors and high-net-worth families through seven defensive credit strategies.