Deals & People February 3, 2010

Klepacki to Run Delaware Investments' Third-Party B/D Distribution

Delaware Investments, a member of Macquarie Group, has hired Jeff Klepacki to run its third-party broker/dealer (B/D) distribution activities.
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Klepacki will be responsible for distribution to wirehouses, regional, and independent firms, as well as key account management with major distribution partners, according to a press release.

He joins Delaware from Allianz Global Investors, where he held numerous roles since 1997. Following Allianz’s acquisition of Nicholas Applegate Capital Management, Klepacki oversaw daily management of the firm’s registered investment adviser (RIA) channel and maintained key client relationships. He also served as director of retirement solutions, working with a team to combine multiple Allianz business entities to create retirement solutions.

Prior to joining Allianz, Klepacki worked on the analytics service desk for Bloomberg Financial Markets for four years. He has a bachelor’s degree in economics from Rutgers University.

Deals & People February 3, 2010

McDermott to Head Goldman Sachs Institutional DC Unit

Goldman Sachs Asset Management (GSAM) announced that Bill McDermott has joined GSAM as Head of the Institutional Defined Contribution business.
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In this role, McDermott will oversee GSAM’s institutional sector, which supports Fortune 500 corporations and other large organizations, according to a company statement. He will report directly to Jim McNamara, Managing Director and head of GSAM’s Global Third Party and U.S. Institutional Distribution businesses, responsible for all defined contribution lines of business for GSAM.

McDermott was previously Executive Vice President, Corporate Markets, at AXA Equitable Life Insurance Company (see “AXA Equitable Appoints Fidelity Exec as Head of Corporate Retirement Planning“). Prior to AXA, he spent 12 years in executive management at Fidelity Investments, where he was responsible for growing large corporate market and client solutions groups.

Earlier in his career, McDermott was a partner with Hewitt Associates and held business development roles at Metropolitan Life. McDermott earned his bachelor’s degree from Villanova University.

The announcement said the Goldman Sachs Asset Management Retirement Services Group seeks to extend GSAM’s thinking in defined benefit investment policy design to the defined contribution market, with a diverse offering that includes investments across traditional, exotic beta, and alternative investments.

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