Retirement Industry People Moves – 12/13/24

Franklin Creates Division, Gives New Roles to Retirement Heads

Steve McKay

Yaqub Ahmed

Franklin Templeton announced, through a spokesperson, a new business unit and gave new positions to two top retirement executives.

Effective October 2024, the investment manager’s digital assets business and strategic ventures group merged to form Franklin Innovation Research Strategies and Technology, or FIRST. The division will focus on aligning the firm’s innovation initiatives.

Yaqub (Qub) Ahmed, formerly co-head of U.S. retirement, insurance and college savings, is now head of global retirement and workplace advisory services at FIRST. He reports to Sandy Kaul, who is head of FIRST.

Steve McKay, who had come over to Franklin as part of its 2023 acquisition of Putnam Investments, also has a new title. He goes from co-head to head of U.S. retirement, insurance and college savings.

Borzi, Iwry and Kasiarz Awarded EBRI Lifetime Achievement Award

David Kasiarz

Mark Iwry

Phyllis Borzi

The Employee Benefit Research Institute awarded three recipients its 2024 Lifetime Achievement Award: Phyllis Borzi, J. Mark Iwry and David Kasiarz (posthumously), for “devoting their careers to preserving, protecting and enhancing retirement security and health benefits.”

Borzi had been the assistant secretary for employee benefits security of the U.S. Department of Labor, in charge of the Employee Benefits Security Administration, under former President Barack Obama.

Iwry served as senior adviser to the secretary of the treasury from 2009 to 2017 and served concurrently as the U.S. Department of the Treasury’s deputy assistant secretary for retirement and health policy. He currently is a nonresident senior fellow at the Brookings Institution and a visiting scholar at the Wharton School at the University of Pennsylvania.

Kasiarz served as executive vice president of colleague total rewards and well-being at American Express for more than 15 years until his passing in August 2023. Prior to American Express, Kasiarz spent 18 years at PepsiCo in HR leadership roles.

“This award embodies EBRI’s mission of promoting sound employee benefit design and policy based on independent and objective research and education,” Barb Marder, EBRI’s president and CEO, said in a statement. “There could be no better fitting recipients this year, as we celebrate the 50th anniversary of the Employee Retirement Income Security Act, better known as ERISA. The very principles that ERISA was founded—on security, fairness and trust—are the essence of their respective career journeys.”

Beacon Pointe Brings On Retirement Plan Business Consultant

Greggory Cowan

Beacon Pointe Advisors has hired Gregg Cowan as a retirement plan business consultant.

Cowan joins Beacon Pointe from Capital Group, where he served as a regional vice president and retirement plan counselor.

Cowan will support the growing portfolio of Beacon Pointe’s retirement plan services group, which provides fiduciary and investment consulting to 401(k) and 403(b) plans, endowments, foundations and individual clients.

Cowan will focus on helping advisers grow their retirement plan business, supporting participant investment outcomes and delivering comprehensive fiduciary support during the accumulation and distribution phases.

WTW Names Christy Loop Head of Wealth and Strategic Initiatives for U.S.

Christy Loop

WTW has appointed Christy Loop as head of wealth and strategic initiatives for its U.S. investments business.

In the newly created position, Loop will have overall responsibility for developing strategic initiatives and growing the company’s wealth business in the region.

Loop, based in the Atlanta office, reports to Rich Joseph, head of growth for the U.S. investments business.

“This appointment reinforces our commitment to the wealth management space, which continues to be a significant area of growth for our business,” Joseph said in a statement.

Loop joined WTW in 2011 as an investment consultant. Most recently, she was a portfolio manager on the global and U.S. portfolio management teams, where she focused on investment strategy and capital allocation for outsourced chief investment officer clients.

IRALogix Names Pete Littlejohn President

Pete Littlejohn

IRALogix, a digital individual retirement account provider, has named the firm’s co-founder, Pete Littlejohn, president of the company, working under CEO Peter de Silva.

Littlejohn will continue to lead the company’s sales and relationship management teams while working on strategic goals and initiatives.

“Witnessing the growth of IRALOGIX since the days of its founding has been an incredible journey,” Littlejohn said in a statement. “I’m honored to step into this role and to continue building on our momentum as we transform the IRA marketplace.”

$30B Prime Capital Financial Adds New York-based Stu Berrin

Stu Berrin

Prime Capital Financial announced the addition of New York City-based Stu Berrin as a partner and managing director. He is the $30 billion advisory’s first hire in New York City.

Berrin comes to Prime Capital Financial from Edelman Financial Engines, where he spent 12 years and most recently served as a director of financial planning.

“Stu’s experience and commitment to his clients’ success make him an outstanding addition to the Prime Capital Financial team,” Glenn Spencer, Prime Capital Financial’s CEO, said in a statement. “His ability to simplify complex financial situations and foster confidence in achieving long-term goals aligns seamlessly with our client-centric philosophy.”