Retirement Industry People Moves

Nuveen Expands DCIO Business

Asset management firm Nuveen is growing its Defined Contribution Investment Only (DCIO) business with the addition of several executives.

Kate Jonas will serve as leader of the Consultant Relations team. She will support the firm’s efforts in the defined contribution (DC) and defined benefit (DB) plan markets. She joins from BlackRock’s Global Client Group, where she led DC consultant relations for the institutional DC team covering the United States and Canada.

Christine Stokes joins as head of Retirement Practice Management responsible for supporting the distribution growth strategy. She has worked at Voya Investment Management where she was a senior product manager focusing on multi-asset solutions for the institutional, intermediary and affiliate businesses.

Daniel Noschese who joined the DCIO Sales team will work with retirement specialists in the Midwest. Formerly with Putnam Investments, Noschese served as a Defined Contribution Investment Specialist where he was responsible for external DCIO sales for the Midwest region.

Matthew Kasa also joined the DCIO Sales team. She is responsible for DCIO sales and retirement adviser development in the Southwest. Most recently, Kasa was a vice president for DCIO sales in the southwestern United States with American Century Investments.

Ashish Gandhi will join in mid-May with responsibility for DCIO Institutional Sales. He will execute Nuveen’s new business development efforts directed at large institutional clients representing Nuveen’s full suite of capabilities including its target -date offerings to DC plan sponsors. Gandhi was previously a director within LMCG Investments’ institutional business.

Nuveen’s DCIO team works in consultation with plan sponsors, consultants and retirement plan advisers to evaluate the investment menus of retirement plans and identify ways to improve outcomes for plan participants.

NEXT: Segal Group Names Chief Actuary

Neuberger Berman Names Head of ESG Investing

Independent, employee-owned investment manager Neuberger Berman has named Jonathan Bailey as head of Environmental, Social and Governance (ESG) investing.

Bailey will work with the firm's investment teams and research departments to further incorporate ESG principles into the equities, fixed income and alternatives platforms. He also will help portfolio managers consider ESG as part of their analytical approach to evaluating companies and markets. In addition, he will chair the firm's ESG Investment Advisory Committee.

Bailey joins Neuberger Berman from Focusing Capital on the Long Term, a think tank. Beforehand, he served as associate partner at McKinsey & Company where he advised pension plans, asset managers, and other finance institutions on a range of issues related to investment strategy, organizational structure and ESG integration. He’s also worked on sustainability and governance investment projects for both former Vice President Al Gore and former British Prime Minister Tony Blair.

The firm notes that integration of ESG factors into investment analysis and portfolio construction can be valuable in identifying companies whose sustainable business models and risk management cultures may afford attractive long-term investment opportunities.

Putnam Hires Head of Sustainable Investments

Katherine Collins has joined Putnam Investments as head of Sustainable Investing. She will be tasked with overseeing the firm’s environmental, social and governance (ESG) investment business, which is expected to include managing strategies for institutional and retail mutual fund clients. She also will responsible for driving overall thought leadership on the topic.

Previously, Collins was CEO of Honeybee Capital, a research firm focused on ESG investment issues. Earlier, she worked for Fidelity Management and Research Company from 1990 to 2008. Her roles included portfolio manager for the Fidelity America Funds, where she launched a pilot investment fund with a sustainable and socially responsible mandate. She was also a director of Equity Research and portfolio manager for the Fidelity MidCap Funds.

“Investing through the lens of environmental, social, and governance is redefining what asset management can accomplish,” says Robert L. Reynolds, Putnam’s president and chief executive officer. It is a concept that is becoming increasingly synonymous with good long-term investing and is serving to help identify opportunities. Katherine’s proven leadership and expertise will ensure we continue to move to the forefront of this rapidly growing field.”

She earned a master’s degree in Theological Studies from Harvard Divinity School and a bachelor’s degree with honors in economics and Japanese Studies from Wellesley College. She also holds the Chartered Financial Analyst designation.

NEXT: PSCA Names Executive Director

PSCA Names Executive Director

John M. (Jack) Towarnicky has joined the Plan Sponsor Council of America as the organization’s executive director.

Before joining the PSCA, Towarnicky was a visiting assistant professor of management at Duquesne University.  Prior to teaching, he served in a benefits compliance role at Willis Towers Watson. He’s also led the corporate benefits function at Nationwide Mutual Insurance Company. Moreover, he’s served in benefits leadership roles at several companies including Oil E&P, Cooper Industries, and Marathon Oil.  He has also served on boards of several benefits trade associations including the American Benefits Council, World at Work, the Corporate Board of the International Foundation of Employee Benefit Plans, and the Council on Employee Benefits.

“Jack brings both experience at employee benefits trade associations and with plan sponsors,” says Stephen McCaffrey, PSCA Board Chairman. “After an extensive search, we are pleased to find a leader with deep experience who can continue the growth and success of our organization.”