Retirement Industry People Moves – 3/29/24

Nicolet National Bank Hires Bohn to Lead Wealth, Private Client Services

Nicolet National Bank, the operating entity of bank holding company Nicolet Bankshares Inc., has hired William Bohn to lead its wealth management and private client and trust businesses.

As executive vice president of wealth management, private client and trust services, Bohn will oversee the bank’s wealth, client and trust services, alongside its retirement plan services. He will report to Mike Daniels, chairman, president and CEO, who oversees wealth management, retirement plan services, private client services and trust and investment management.

Bohn joins the bank from USI Insurance Services, where he was the CEO of USI-Community Agencies. Prior to that role, he worked at Associated Banc-Corp., where he held several senior executive roles, including serving as executive vice president and head of wealth management and institutional services.

The Standard Shuffles Corporate Actuary and Chief Risk Role

Lauren Canfield

The Standard has appointed Lauren Canfield, formerly assistant vice president and actuary in actuarial transformation, to the role of vice president, corporate actuary and chief risk officer, effective April 1; she will also become a member of the company’s management committee.

Canfield is taking the role from Sally Manafi, who will retire on March 31 after joining the firm in 1992 and holding various leadership positions.

Canfield will be the corporate actuary and chief risk officer for the Standard’s StanCorp Financial Group Inc., Standard Insurance Co. and The Standard Life Insurance Co. of New York. She will be responsible for enterprise risk management, asset liability management and economic capital management; she will also hold responsibility for the actuarial aspects of company financial statements and product pricing, according to the firm.

Sally Manafi

Canfield joined the Standard in 2006, holding various actuarial roles at both Standard Insurance Co. and StanCorp Mortgage Investors. She subsequently held leadership roles in employee benefits and corporate actuarial, where, as assistant vice president and actuary in actuarial transformation since 2020, she has focused on the strategy and technology decisions intended to transform the actuarial function across the Standard.

Manafi will depart after leading the development of the company’s asset liability management function and enterprise risk management practice, along with being the “architect” of the firm’s ongoing actuarial transformation, according to the announcement. Recently, she had responsibility for the company’s corporate development function and several recent acquisitions.

Equitable Announces 2 Leader Moves

Jim Kais

Equitable, an Equitable Holdings Inc. company, has appointed a new head of group retirement, moving the former leader to its investment management division.

Effective April 1, Jim Kais will take the role of head of group retirement for Equitable after previously heading retirement plans for Ameritas. He will report to Nick Lane, president of Equitable, and join the firm’s operating committee.

Jessica Baehr, the former head of group retirement, will move into the role of president of Equitable’s investment management team. Baehr held the role of group retirement head for more than two years and will remain on the firm’s operating committee; she will be reporting to Chief Investment Officer Steven Joenk.

Kais will oversee strategy, product portfolio, client experience and financial results for Equitable’s group retirement business, including its 403(b) and 457 businesses and the small business 401(k) market.

During his time at Ameritas, Kais “transformed the company’s retirement plan distribution system,” according to the announcement. He has also worked with plan sponsors in the 403(b), 457 and 401(k) plan markets, including establishing the multiple employer plan business at Ameritas. Prior to that role, he worked at Transamerica, ADP Inc., Prudential and Merrill. He currently serves on the advisory board for the SPARK Institute and on the retirement plans committee of the American Council of Life Insurers.

Jessica Baehr

Baehr, who has been with Equitable for more than a decade, will oversee the registered investment adviser business for the firm, covering 126 portfolios that underlie the firm’s variable insurance products, retail mutual funds and suite of model portfolios. The division has about $116 billion in assets under management.

Baehr’s previous roles at the company included chief operating officer for the life and employee benefits businesses and head of investor relations. Prior to Equitable, Baehr worked in the nonprofit sector in higher education and international development.

“Equitable Investment Management is a differentiator for Equitable,” said CIO Joenk in a statement. “Jessica is a seasoned leader who is well-positioned to usher in our next chapter of growth, drawing upon her experience running our second largest business, Group Retirement, and deep understanding of our variable insurance products and proprietary funds.”