Retirement Industry People Moves

National Association of Investment Companies Announces Abraham as Vice President of Development

Harland Abraham

The National Association of Investment Companies, a network of diverse-owned alternative investment firms, announced the appointment of Harland Abraham as vice president of development.

Abraham will drive the ’group’s growth objectives, identify new business opportunities and foster key partnerships to strengthen the NAIC’s presence in the industry.

Before joining NAIC, Abraham served as the chief business development officer at Inroads Inc., a nonprofit creating pathways to internships and careers for diverse high school and college students. Abraham also spent 13 years at the Northern Trust Co. as vice president of public and Taft-Hartley funds and Corporate and Institutional Services.

“I am excited to join the NAIC team, and I look forward to engaging with our current sponsors and partners,” Abraham said in a statement. “The NAIC has experienced robust growth. I plan to contribute to that success by bringing on additional new partnerships and sponsors that will allow NAIC to accelerate the expansion of its positive impact in the alternative investment space.”

Truist Appoints Stengel as Chief Legal Officer

Scott Stengel

Truist Financial Corp. announced that Scott Stengel will join the company on December 26 as senior executive vice president and chief legal officer.  He succeeds Ellen Fitzsimmons, who previously announced plans to retire at the end of this year.

Stengel will report to Truist Chairman and CEO Bill Rogers, serve as corporate secretary to the Truist Board of Directors and become a member of the bank’s operating council. He will be based at Truist’s corporate headquarters in Charlotte, North Carolina, where he will oversee all legal affairs and government relations.

“We’re pleased to welcome Scott Stengel to Truist to guide our legal affairs and government relations strategy,” Rogers said in a statement. “Scott is an entrepreneurial leader with deep financial services legal experience spanning corporate governance, compliance, digital innovation, cybersecurity, government relations and risk management.”

Stengel had served since 2016 as general counsel of Ally Financial, where he was responsible for the legal affairs, corporate secretary and government relations functions. Prior to that, he served as general counsel for UMB Financial Corp. and as a partner in both King & Spalding LLP and Orrick, Herrington & Sutcliffe LLP in Washington, D.C.

Ameritas Names New CFO

Michele Wu

Ameritas Life Insurance Corp. announced Michele Wu has been named senior vice president, CFO and treasurer. She will oversee accounting and finance, corporate actuarial and capital management at Ameritas.

Sue Wilkinson, current executive vice president, CFO and treasurer, will move to president and chief operating officer, effective January 2, 2024.

Wu most recently served as CFO for Principal Hong Kong, a member company of Principal Financial Group. Prior to that role, she held the director of capital markets position for Principal Financial in Des Moines, Iowa, as well as financial controller and head of international tax. Her experience also includes being a tax director in the mergers and acquisitions practice of Price Waterhouse Coopers.

She earned her bachelor’s degree in economics from Xiamen University in China and her master’s degree in accounting/tax from the Kogod School of Business at American University in Washington, D.C.

Vestwell Names Sullivan VP of Retirement Sales

Mike Sullivan

Vestwell hired Mike Sullivan to the role of regional vice president of retirement sales, responsible for retirement product sales in Illinois, Indiana and Wisconsin, a spokesperson for Vestwell confirmed.  

Sullivan will collaborate with advisers, consultants and retirement specialists to provide products for their clients, according to the spokesperson.

“Mike is an industry superstar with more than 20 years of experience on both the wholesale and advisor side of the business,” the spokesperson said.

Sullivan reports to Eli Landow, Vestwell’s divisional vice president for the Eastern U.S. Sullivan was previously the sales director at BMR Retirement Group.

Annuity Products Provider Hires New VP

Insurance company TruStage Financial Group Inc. promoted Nick Fraser to the position of regional vice president of annuities, selling products in Minnesota, North Dakota and South Dakota.

TruStage hired Fraser as a hybrid wholesaler—regional sales consultant for external markets annuity— in February 2021, according to a press release.