Retirement Industry People Moves - 1/26/24

Dimensional Names Rizova Co-CIO, Makes Additional Leadership Appointments

Savina Rizova

Dimensional Fund Advisors announced that its global head of research, Savina Rizova, will become co-CIO alongside Gerard O’Reilly, effective February 1. O’Reilly also led Dimensional’s research team prior to being named co-CEO and CIO in 2017. As co-CIOs, O’Reilly and Rizova will lead a team of more than 300 investment professionals across six countries.

Born in Bulgaria and educated in the United States, Rizova was recognized by Barron’s in 2023 as one of the 100 Most Influential Women in U.S. finance. Rizova joined the Dimensional team in 2004 and has led the firm’s research department since 2017.

“In addition to her impressive research expertise, she has helped drive innovation across Dimensional’s product offering, including the development, launch, and rapid growth of our exchange-traded funds, expanded separately managed accounts offering, and model portfolios,” O’Reilly said in a statement. “I look forward to working alongside her to help financial professionals and investors pursue their financial goals.”

Dimensional also announced two other leadership appointments. Brad Steiman, formerly head of the wealth management group for Dimensional Fund Advisors Canada ULC, was named president of Dimensional Canada, as of January 1. Chief Talent Officer Stacey Winning will become global co-head of human resources alongside longtime HR leader Aaron Marcus, as of February 1.

Denver Asset Manager Targets Retirement Market Growth With Hire

Alyssa Zagrobski

Shelton Capital Management hired Alyssa Zagrobski as director of retirement plan services, the company announced.

Zagrobski will be responsible for developing Shelton’s retirement plan services channel, establishing new relationships with small and medium-sized companies looking to offer their employees a quality retirement plan delivered alongside authentic client service, according to the release.

“We are delighted to welcome Alyssa to our organization,” said Steve Rogers, Shelton Capital Management’s CEO. “She embodies our company’s values of authentic client service, professionalism, compliance and growth, and her industry knowledge and experience will bolster our 401(k) offering.”

MissionSquare Research Recruits Retirement Research Head

Zhikun Liu

MissionSquare Research Institute hired Zhikun Liu as vice president and head of retirement research, according to a press release.

Liu will assume the role at the Washington, D.C.-based nonprofit specializing in public sector workforce research on February 5.

“I am inspired to have such a highly qualified industry leader at the helm of MissionSquare Research Institute,” said Deanna Santana, acting CEO and president of MissionSquare Retirement, in the release. “As public sector leaders grapple with a broad range of workforce challenges, ranging from recruitment to retirement, Dr. Liu’s extensive financial industry and academic experience positions him as the right leader at the right time. Under his guidance, the Institute will continue its mission of delivering high-quality research that informs decision-making to support the public service workforce.”

Liu was previously a senior research fellow at Europacifica Consulting.

Wilshire Welcomes Head of Product Strategy

Chip Castille

Wilshire, a global financial services firm, announced the appointment of Chip Castille as head of product strategy, a new role. Castille will focus on developing products and solutions across Wilshire’s business lines. He assumed the role on January 9 and reports directly to Jason Schwarz, deputy CEO and president of Wilshire.

Castille first joined Wilshire in 2000 and spent seven years in a range of senior capacities, including division CIO. Castille was also a managing director before being named CIO of Wilshire Funds Management, where he built Wilshire’s multi-asset, multi-manager investment platform.

Most recently, he founded Goal Based Investors, an innovative, lead-generated platform that brings together retail investors, RIAs and investment managers. Prior to that, he led the defined contribution business at BGI (later acquired by BlackRock), where he invented the first cost of retirement index and developed the award-winning iRetire strategy.

“Chip brings over three decades of experience as one of the leading innovators in the wealth and retirement space, and his leadership and industry expertise will further cement Wilshire’s standing as a pioneering provider of world-class investment solutions,” Schwarz said in a statement. “This newly created role will further enable us to provide our clients with compelling solutions that meet evolving industry dynamics.”

FSI Announces 2023 Board of Directors, Executive Committee Members

The Financial Services Institute announced that it has added five directors to its board. The new members are:

• Libet Anderson, president, Concourse Financial Group Securities;
• David Knoch, CEO, Docupace;
• Stephen Langlois, president, Kestra Financial;
• Robert Milmore, principal district adviser, First Command Financial Services; and
• Gwen Weithaus, vice president, risk and controls, Northwestern Mutual.

Meanwhile, FSI has announced that its board elected five directors to serve in leadership positions for the coming year. The 2023 executive committee:

• Chair:  Scott Spiker, chairman, First Command Financial Services;
• Vice chair, chair in 2024: Jamie Price, president and CEO, Osaic;
• Immediate past chair: Ed Forst, president and CEO, Lincoln Investment;
• Finance Chair: Jodi Perry, President of ICD, Raymond James Financial Services; and
• FSI PAC Chair: Tim Stinson,president, Cetera Advisor Networks.

“In the year ahead, we are excited to work on the issues that matter most to our members, including fending off threats to their independent contractor status, which would have enormous implications for the independent financial services industry and Main Street investors across the country,” Dale Brown, FSI’s president and CEO, said in a statement.

Retirement Expert Dietch Named to M2M Capital Board

Joshua Dietch

Joshua Dietch will join M2M Capital’s board of advisers.

“We are thrilled to welcome Joshua Dietch, of NMG Consulting, to our advisory board,” Founder and CEO Cristina Chen-Oster wrote in an emailed response. “Joshua provides thought leadership on how real-time private market valuations support the development of retirement investment products, which will deepen M2M’s expertise in delivering AI-powered valuation services.”

Fidelity Bolsters Workplace Consulting

Fidelity Investments hired Gregg Levinson to the role of vice president of workplace consulting, a spokesperson confirmed. Levinson was sales leader for benefits advisory and compliance at WTW. A Fidelity representative did not provide additional comment.