Retirement Industry People Moves

Art by Subin Yang

CIM Hires Director for Credit Research

Clinton Investment Management, LLC (CIM) has hired Michael Taylor, director – credit research.

Taylor has over 15 years of experience in municipal and corporate credit research, trading and portfolio management. Prior to joining CIM, Taylor ran a financial services consulting practice out of Hingham, Massachusetts. He spent four years at National Life Group/Sentinel Investments, managing a $3.4 billion portfolio of taxable municipal securities. Prior to joining Sentinel, Taylor was a senior municipal bond analyst at Columbia Threadneedle Investments in Boston and began his fixed income career as an associate director at Standard & Poor’s in New York. He holds a bachelor’s and master’s degree from Marist College, is a former board member and president of the Boston Municipal Analysts Forum and has served on the board of governors of the National Federation of Municipal Analysts.

“We are very proud to have someone of Michael’s caliber join our firm” says Andrew Clinton, CEO of CIM. “I am confident that Michael’s breadth of knowledge with regard to taxable and tax-exempt fixed income and his deep credit research experience will go further toward enhancing our in-house research capabilities.”

State Street Global Advisers CIO Announces Retirement

State Street Global Advisors has announced that Lynn Blake, chief investment officer, Global Equity Beta Solutions (GEBS) will be retiring on September 30.

John Tucker will be promoted to the role upon Blake’s retirement. Tucker began his career at State Street Global Advisors in 1990 and has held a number of senior roles within GEBS over the past 20 years. Since 2017, he has served as chief operating officer of Investments, where he worked across all the investment teams, including the GEBS team.He is a chartered financial analyst.

The firm has also appointed Karen Wong, who will join State Street Global Advisors on June 14 in the newly created role of global head of environmental, social and governance (ESG) and sustainable investing. Wong most recently was managing director and head of index portfolio management for Mellon Investments Corporation. She has held a number of roles with Mellon since 2000, is a chartered financial analyst and is fluent in both English and Chinese.

The portfolio management, model creation and research efforts, and the Company Stock Group will be taken over by Tucker, with the support of the long-tenured leadership team within GEBS. In addition to her primary GEBS responsibilities, Blake has been a key player in growing State Street Global Advisors’ ESG and asset stewardship capabilities. These areas will report to Wong in her new role. Under Wong’s leadership, State Street Global Advisors will bring together the distinct functions across the firm that support ESG, including ESG investment strategy, ESG integration, and asset stewardship.

Blake will partner closely with Tucker, Wong, Kapitulik and Cheng over the next few months to ensure a smooth transition.

John Hancock Retirement Selects CEO for Retirement and Recordkeeping Business

John Hancock Retirement, a company of Manulife Investment Management, has appointed Sue Reibel as chief executive officer for its U.S. retirement plan and recordkeeping business.    

Reibel was previously Manulife Investment Management’s global head of retirement and replaces Patrick Murphy. Murphy, who had served as CEO of John Hancock Retirement since 2018, is on long-term medical leave and will be stepping away from the position to focus fully on his health and recovery, says John Hancock Retirement.

“We are grateful to both Sue and Pat for their leadership up to and through this transition,” says Andrew G. Arnott, head of wealth and asset management, U.S. & Europe, Manulife Investment Management. “Pat has been instrumental in building this business for us and he’s left us well-positioned for growth as a proven resource for plan sponsors and financial professionals helping participants prepare for a secure retirement. Sue’s expertise and focus on the U.S. market will help to accelerate our momentum by utilizing her vast global and retirement experience.” 

Reibel joined Manulife in 1994. Prior to leading the global retirement business, she led the Canadian Group Retirement and Group Benefits business, and established and led the Canadian direct-to-consumer business. 

“I look forward to leading the John Hancock Retirement team and to continuing John Hancock’s success,” says Sue Reibel, CEO, John Hancock Retirement. “The retirement market remains core to John Hancock’s growth and with more than 50,000 plans and 3 million participants we have a strong base from which to expand.” 

Reibel is a member of the global retirement leadership team and reports to Arnott. Currently based in Toronto, she will be relocating to the Boston area as soon as it is possible.

Morningstar Selects Managing Director

Jonathan Linstra has joined Morningstar Investment Management LLC as managing director, Americas. Based in Chicago, Linstra will lead all revenue generation and distribution efforts across the Americas, helping advisers move from managing assets to managing wealth across all segments and products. 

Linstra brings 25 years of innovative and strategic leadership, most recently from State Street Global Advisers in Boston where he held several leadership positions including head of exchange-traded fund (ETF) model portfolios and advised solutions. Linstra will leverage his in-depth experience to continue to build and transform the distribution teams to better serve advisers and their clients. 

Daniel Needham, president, Morningstar Investment Management, says, “Jonathan is an experienced leader, passionate about financial advisers and their role in empowering investors success. His adviser-centric, forward-thinking approach and focus on relationships fits well at Morningstar, and we are excited to build on our success with new perspective to help advisors succeed in our ever-changing investing world.” 

Linstra says, “I’m inspired by Morningstar’s mission to empower investor success and the way that commitment drives every key decision. It truly permeates across all business lines and is ‘owned’ by all team members. I look forward to building on the team’s success thus far.” 

Morningstar Investment Management is subsidiary of Morningstar, Inc. and provides discretionary investment management and advisory services designed to deliver long-term investment results to help investors meet their financial goals. 

Nuveen Announces New Hires to Global Equity Platform

Karen Hiatt has joined Nuveen’s global equity platform.

Hiatt brings 25 years of investment industry experience. In her most recent role at Allianz GI, she was a managing director, senior portfolio manager and head of global technology equities team.

She was also a listed portfolio manager for large cap growth funds. Prior to these roles, Hiatt served as US director of research, head of the US consumer team and a senior research analyst. 

Hiatt will be based in the Nuveen San Francisco office, reporting to David Chalupnik, head of US portfolio managers at Nuveen. As of June 11, she will join Terrence Kontos as a listed portfolio manager on the TIAA-CREF Large-Cap Growth Fund, the TIAA-CREF Life Growth Equity Fund, and the CREF Growth Account.  

Claire Ross has also been added as a portfolio manager, effective June 1, to the Nuveen Equity Long/Short Fund. Ross joins Scott Tonneson as a portfolio manager on the fund. Ross joined Nuveen in 2014, is a managing director based in New York City and also serves as head of U.S. active equity research. 

Mercer Selects Specialty Practice Leader

Mercer has appointed Phillip Styles as specialty practice leader, Inclusive Partner Network, effective May 3. Based in Atlanta, Styles’ responsibilities include leveraging partnerships with diverse-owned firms to deliver impact and value to clients across Mercer’s lines of business.

“We are thrilled to welcome Phillip to Mercer and to have him take on this new role,” says Jean Moore, senior partner, specialty and innovation leader, US health. “As we look towards the future, we’re confident that his experience managing vendor relationships and his extensive network with diverse-owned businesses will make a difference for our clients and their employees.”

Prior to joining Mercer, Styles was the executive vice president, diverse solutions network at Willis Towers Watson. Before that, Styles served as director, strategic alliances at Aon. He earned his associates in business administration at Lincoln College and bachelor’s degree in human development and social policy at Northwestern University.

The Standard Announces Retirement of CEO; Names Successor

The board of directors of StanCorp Financial Group, Inc., and primary operating subsidiary Standard Insurance Company (The Standard) have announced that Dan McMillan, president and chief operating officer, will become president and chief executive officer and a member of the board of directors effective July 1.

J.Greg Ness, chairman and chief executive officer, who announced his decision to retire as CEO, will continue to serve as executive chairman of the board.

“Dan brings a wealth of talent and steady, strong leadership to his newest role as StanCorp’s chief executive officer,” says Ness. “Dan has a keen understanding of the factors that ensure our continued success and growth going forward. His more than 32 years at The Standard, deep knowledge of our culture and unique employee and customer orientation, as well as his commitment to the community, position him well to lead the company to even greater accomplishments. I look forward to his success.”

Ness joined The Standard in 1979 when the company had just over 400 employees. He was appointed president and COO in September 2008 and then president and CEO in May 2009. He became chairman of the board in December 2011.

McMillan, who joined The Standard in 1989, was appointed president and chief operating officer in December 2020. He has held a succession of leadership positions with increasing responsibilities, as well as spearheading large-scale business, technology and efficiency initiatives for the Insurance Services Group. Previously, McMillan served as executive vice president and before that was vice president of the Insurance Services Group.

“I’m honored by the confidence the board has placed in me and excited to lead this great company,” says McMillan. “I look forward to building on the incredible momentum established by Greg during his tenure.”

“Greg has been a strong and effective leader for The Standard, and we are pleased that we will continue to have the benefit of his leadership as board chair,” says Duane McDougall, lead director of StanCorp. “His focus and strategic decisions have had a profound positive impact on the growth of the company, and he has nurtured a culture of caring and community involvement. Greg often said he intended to leave the company better than he found it. Over more than four decades of service, he has certainly accomplished that. The board of directors thanks Greg for his remarkable stewardship of the organization and our communities.”

McMillan serves on the Group Insurance Executive Council of the American Council of Life Insurers. He previously served on the board of directors of the Council for Disability Awareness, Portland Children’s Museum, Lines for Life and the Portland Business Alliance.

McMillan earned a bachelor’s degree in English with a minor in mathematics from Linfield College. He also holds an Associate Life & Health Claims designation from the International Claim Association.