Retirement Industry People Moves – 10/11/24

Hederick Joins Prime Capital Financial

Josh Hederick

Prime Capital Financial announced the addition of Josh Hederick. Based in Raleigh, North Carolina, Hederick will help expand Prime Capital Financial’s presence in the region.

Most recently, Hederick served as director of financial planning at Edelman Financial Engines, where he spent eight years providing comprehensive financial planning solutions to clients in the Raleigh and Greensboro areas.

Prior to that, Hederick was managing partner, owner and adviser at the Mutual Fund Store, where he spent more than 10 years managing operations and advising clients. His early career included roles as an investment adviser at State Farm Financial Services, where he was one of the first participants in the company’s pilot financial services program, and as a senior financial consultant at Merrill Lynch.

“Josh’s client-first approach and commitment to delivering exceptional financial outcomes align perfectly with our values at Prime Capital Financial,” Glenn Spencer, Prime Capital Financial’s CEO, said in a statement. “His deep understanding of the complexities clients face in managing their wealth, coupled with his desire to alleviate the stress of financial planning, will be invaluable.”

Russell Investments Hires Heier, Parra

Shelly Heier

Ayesha Parra

Russell Investments announced that Shelly Heier has joined the firm as global head of institutional client service, a newly created role, and Ayesha Parra has joined to lead the global business strategy for the firm’s alternatives platform.

Heier most recently served as president and senior consultant at Verus Investments. She will focus on enhancing the delivery of Russell Investments’ holistic investment solutions and implementation services. Heier will lead a team of client chief investment officers, account executives and client-service associates to strengthen and expand the firm’s international institutional relationships.

Parra, who joined in July, leads a team of alternatives specialists who incorporate private markets into the firm’s solutions business to deliver more efficient diversification, as well as expand the firm’s alternative capabilities. Based in New York, Parra also serves as a member of the firm’s operating committee.

“Ayesha’s expertise in portfolio management, product development, and distribution strategy will drive our efforts to deliver innovative solutions to clients,” Kate El-Hillow, president and CIO at Russell Investments, said in a statement. “Her leadership and experience will leverage our network of alternatives specialists to develop solutions that help both institutional and retail investors tap into private market opportunities.”

Gallagher Adds Adams to Retirement Plan Consulting Practice

Carissa Adams

Arthur J. Gallagher & Co. has added Carissa Adams to its national retirement plan consulting practice, serving retirement plan sponsors and participants from the Central U.S.

Adams graduated from the Canfield Business Honors Program at the University of Texas at Austin in 2020 with a degree in marketing. She joined WealthWise Financial Services following her graduation.

At WealthWise, Adams focused on servicing clients, assisting with financial planning and leading the marketing efforts. She holds FINRA Series 7 and 66 registrations through LPL Financial and achieved the Accredited Investment Fiduciary designation.

PGIM Multi-Asset Solutions Hires Dong as Co-Head of Portfolio Management

Mao Dong

PGIM Multi-Asset Solutions has appointed Mao Dong as co-head of portfolio management.

Dong joins PGIM from Goldman Sachs Asset Management, where he spent more than 14 years, most recently as co-head of OCIO portfolio management and head of portfolio construction and manager research.

At GSAM, he led a team of portfolio managers in overseeing strategic and dynamic asset allocation, manager selection, portfolio implementation and risk management for OCIO portfolios globally. Dong also served as senior portfolio manager for several of GSAM’s multi-asset class funds across global equity, fixed income and public real assets.

At PMA, Dong will be responsible for designing and managing multi-asset portfolios for institutional clients, including developing and applying relative value views across public and private investment strategies.