Retirement Industry People Moves

“As one distribution team, our retirement plans business now has one of the largest, most tenured sales forces in the industry including NAPA-recognized top wholesalers,” says Stevenson. “The investments Nationwide has made in meeting the needs of advisers, plan sponsors and participants have been recognized by third-party industry experts, including DALBAR for our website and service, and PLANSPONSOR Magazine for best-in-class client satisfaction.”

Under Stevenson, Nationwide’s retirement plans business won or retained some of the largest retirement plans in the country. It serves more than 2.1 million retirement plan participants in nearly 39,000 plans.

“We’re investing more than ever in tools and technology to meet the needs of larger plans, and we will continue to provide access to customized retirement plans to America’s small and medium-sized businesses and public-sector plans,” says Carter.

Joe Frustaglio, leader of private-sector sales, recently decided to leave Nationwide after 32 years of service.

“Joe has been a valued member of the Retirement Plans leadership team and a dedicated leader to our private sector sales organization for the past 11 years,” says Carter. “His many contributions to our business and the industry will be long lasting.”

Nationwide will begin an immediate search for a new leader, reporting to Stevenson, who will assume responsibility for the adviser-sold 401(k) business.

NEXT: Lincoln Financial Names New President of Tax-Exempt Retirement Plans

“Vince’s industry experience will be invaluable as we focus on delivering our high-touch model to more plan sponsors in the government and health care markets,” says Ralph Ferraro, senior vice president and head of product for RPS. “He will also be responsible for diversifying our product portfolio, ensuring we have the right solutions in place to meet the needs of plan sponsors and continue to drive positive outcomes for participants.”

Prior to joining Lincoln Financial, Garzarella spent 18 years at Vanguard where he served in a variety of roles including department head of 403(b)(7) and 401(k) client administration. Garzarella graduated from Villanova University with a bachelor’s degree in sociology and a master’s degree in business administration from Saint Joseph’s University.

NEXT: Consequent Capital Management Acquires Gray & Company Assets

Consequent Capital Management Acquires Gray & Company Assets

Consequent Capital Management has acquired the assets of Atlanta-based Gray & Company, which had approximately $4 billion under advisement, the firm says. Consequent’s investors and clients include public and private pension funds, foundation and university endowments, and large family offices.

“Our core belief is that there is an abundance of untapped value in overlooked fund managers and niche alternative strategies, and our team is well-suited to source, vet and manage those opportunities,” says Consequent CEO Earl Robinson. “We are very proud that our investment specialists have worked at some of the largest and most well-respected investment management and investment advisory firms in the world, and we have acquired the assets of a legacy firm with a long track record.”

The firm says it is a thought leader in minority-owned and emerging investment managers, as well as impact strategies benefitting targeted communities. The report Diversity Matters released in February 2015 by McKinsey & Company indicates “that companies in the top quartile for gender or racial and ethnic diversity are more likely to have financial returns above their national industry medians.”

Robinson's career includes senior positions at Morgan Stanley, JPMorgan Investment Management and the New Orleans Startup Fund. The senior team also includes Cyril Theccanat as chief investment officer, Kenneth Simon as chief compliance officer, and Chandra Kerley Ridley as chief operating officer.

Founded in 2016, Consequent’s investment management solutions include multi-strategy alternatives funds-of-funds, impact venture capital, impact real estate, and special situations.

NEXT: PNC Institutional Asset Management Names Managing Director

PNC Institutional Asset Management Names Managing Director

PNC Institutional Asset Management has appointed Holly Harrison as managing director,leading PNC’s Mandate business. Harrison will be responsible for expanding the set of Mandate investment solutions offered by PNC Capital Advisors.

She will also retain her current position as head of Consultant Relations, RFP and Business Strategy for PNC Capital Advisors. Since joining PNC in 2009, she has held several leadership roles in the asset management organization and has more than 22 years of experience in product management and business strategy.

“Holly’s deep industry knowledge and experience in working with institutional investors and consultants serve us well as we expand our offerings and strengthen the solutions-oriented approach of our mandate business,” says Alistair Jessiman, managing executive of PNC Wealth & PNC Institutional Asset Management.

PNC Bank, National Association is a member of The PNC Financial Services Group.

NEXT: Lockton Promotes Dallas Consultant

Lockton Promotes Dallas Consultant

Global consultant Lockton has promoted 11-year company veteran Courtney Stroope in Dallas.  

She specializes in consulting clients on retirement plan management issues. For the last six years, she has lead the Dallas-based service team as vice president and unit manager. Stroope has also worked as a benefits supervisor for a local energy firm.

“Courtney’s promotion is exciting for a lot of reasons,” says Bruce Sammis, CEO of Lockton Dunning Benefits, the firm’s Texas-based benefits consulting business. “She’s not only representative of the culture we foster here at Lockton, one that rewards great success with greater opportunity, but she’s also indicative of the type of adviser we look for. Courtney’s years of hands-on experience mean that she has seen and managed every aspect of this industry. She has the voice of experience and that inspires tremendous confidence in the people who work with her.

Pam Popp, president of Lockton’s National Retirement Practice adds, “Managing wealth benefits has become an even bigger issue for our customer base. Whether it’s lowering the risk of fee litigation, understanding the impact of pension liability, or developing a strategy for executive benefits, clients need help with complex financial and strategic issues. We need Courtney’s expertise to guide them to solutions that make sense for their businesses and the people they employ.”

NEXT: IRIC Names First National Director