Deals and People January 3, 2011

Vieth and Zients Join RPAG

January 3, 2010 (PLANSPONSOR.com) - Charlie Vieth and Steve Zients of Act2 Retirement Consulting have affiliated with practice management firm Retirement Plan Advisory Group (RPAG).
Reported by

Act2 also moved to Financial Telesis, Inc. for broker/dealer support.

The firm, which provides full-service retirement plan consulting to mid- to large-sized plans, with an emphasis on optimizing plan design and administrative procedures, was briefly affiliated with National Retirement Partners before moving to RPAG and Financial Telesis last month.

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Vieth and Zients both held senior positions with T. Rowe Price for a number of years before co-founding Act2 Retirement Consulting in late 2009. Vieth, served as President of T. Rowe Price Retirement Plan Services for 15 years, and Zients served 23 years as Senior Vice President of T. Rowe Price Retirement Plan Services, managing the Client Services department (see T. Rowe’s Vieth Announces Retirement).

Deals and People January 3, 2011

Musto Hands JPAM DCIS Reins to Galateria

January 3, 2011 (PLANSPONSOR.com) – J.P. Morgan Asset Management has tapped John Galateria as managing director, head of Defined Contribution Investment Solutions (DCIS).
Reported by

An internal memo from David Musto, managing director, COO, Retirement Plan Services, said Galateria will oversee JPAM’s DCIS intermediary, platform, and plan sponsor sales teams as Musto focuses on his new role as COO for Retirement Plan Services. Musto was previously the head of the DCIS group (see “J.P. Morgan Asset Management Realigns DCIO Teams“).

Galateria will also participate in efforts across IMA businesses to advance DC-focused product set and thought leadership. “With more than $3 trillion in DC assets forecasted to change hands due to new manager searches and participant activity over the next five years, succeeding in the investment-only DC business will continue to be a critical component of our retirement strategy,” Musto said in the memo. 

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According to Musto, Galateria joins JPAM from T. Rowe Price where he recently led distribution for its Retirement Plan Services business. Earlier in his career, he also worked at Great-West Retirement.  

Galateria will report directly to Michael Falcon, head of Retirement for J.P. Morgan Asset Management (see “Falcon Named JPAM Retirement Chief“). Glenn Dial, Heidi Walsh, and Brant Wong will report to Galateria (see “Walsh Jumps to J.P. Morgan Asset Management“). 

Galateria will replace Musto on the Funds Management Operating Committee and the Institutional Segment Management Team.

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