Deals & People March 21, 2025

Retirement Industry People Moves – 3/21/25

Neuberger Berman appoints consultant relations managing director; Morgan Stanley hires head of OCIO; Prudential gets head of distribution, voluntary and workplace benefits; and more.

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Neuberger Berman Appoints New Consultant Relations Managing Director

Rushant Sanathara

Rushant Sanathara has joined Neuberger Berman as a managing director of consultant relations, based in California and covering West Coast-headquartered consulting firms.

Sanathara brings 15 years of experience in institutional sales to the firm. Previously, he served in consultant relations at PIMCO, where he led relationships with consultants advising more than $4 trillion in assets and contributed to bringing more than $12 billion in assets to the firm over a 10-year period.

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Morgan Stanley Hires New Head of OCIO

Sona Menon

Morgan Stanley Wealth Management announced that Sona Menon will join the firm as head of OCIO.

Menon will lead Morgan Stanley’s team of investment officers, supporting the development and delivery of customized client solutions and providing overall thought leadership to institutional clients as she partners with financial advisers and institutional consultants.

Menon brings more than 28 years of industry experience, most recently as an investor and senior leader at Cambridge Associates, where she was a partner, head of pensions for North America and a long-standing OCIO.

Former U.S. Deputy National Security Adviser Rejoins PGIM Fixed Income

Daleep Singh

PGIM Fixed Income announced that Daleep Singh will return as vice chair, chief global economist and head of global macroeconomic research, effective April 21.

Singh will rejoin PGIM Fixed Income after being reinstated as U.S. deputy national security adviser for international economics and deputy director of the National Economic Council in February 2024, a role he also held between February 2021 and June 2022.

Singh previously served as PGIM Fixed Income’s global chief economist and head of macroeconomic research from June 2022 through February 2024, before he was again called upon to serve at the White House.

Singh will report to Gregory Peters, co-CIO for PGIM Fixed Income, and will be responsible for oversight of the global macroeconomic research team, which includes senior economists with extensive experience in the public and private sectors. As vice chair, Singh will also assume broad executive responsibilities, including building out the firm’s global brand and serving on PGIM Fixed Income’s senior leadership team.

Hebert Joins Prudential as Head of Distribution, Voluntary and Workplace Benefits

Mark Hebert

Mark Hebert joined Prudential Financial’s group insurance business as the new head of distribution, voluntary benefits and workplace benefits. Hebert is based in the Dallas-Fort Worth area and will report to Jon Trevisan, head of distribution and group insurance.

Hebert brings more than 20 years of experience in the employee benefits sector, working with employers of all sizes and industries, as well as building expertise across operations, sales, finance, technology and strategic planning.

Prior to joining Prudential, Hebert was head of distribution and workplace benefits for Wellfleet. He was also the national practice leader for voluntary benefits at WTW and held a variety of voluntary benefits sales leadership positions during a 14-year tenure at Voya.

Former Department of Education Staff Member Joins Summer

Rich Williams

Summer PBC, a workplace student loan and college cost planning solution, announced the appointment of Rich Williams as its new chief customer officer.

Williams brings a wealth of experience in higher education policy and student loan operations: He most recently served as the deputy assistant secretary of policy, planning and innovation at the Department of Education, where he led college affordability and student loan repayment initiatives. He also previously held senior roles at the Consumer Financial Protection Bureau and in the U.S. Congress.

As chief customer officer, Williams will oversee customer strategy and engagement, ensuring that Summer’s platform and services address the changing needs of its clients and the end users it serves. He will also work closely with policymakers, employers and financial institutions to advance Summer’s mission to simplify student loans.

Aon Announces Presidential Transition

Eric Andersen

Greg Case

Aon PLC announced that Eric Andersen has transitioned from his role as president to serve as a senior adviser to Greg Case, Aon’s CEO, through June 2026. Case has also assumed the role of president.

Andersen joined Aon with the firm’s acquisition of Minet in 1997. Most recently as president, Andersen helped bring together Aon’s integrated risk capital and human capital capabilities and operationalize Aon’s 3×3 plan to faster serve clients.

More information on the transition will be available in the firm’s Form 8-K, which it intends to file on Monday with the U.S. Securities and Exchange Commission, according to the announcement.

Products March 21, 2025

Product and Service Launches – 3/21/25

PensionBee adds Roth, traditional contribution capabilities; SMArtX Advisory Solutions adds 5 strategies; October Three expands retirement plan; and more.

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PensionBee Adds Roth and Contribution Capabilities To Mobile App

Online retirement provider PensionBee Inc. added Roth and traditional individual retirement account contribution capabilities to its mobile app.

PensionBee’s U.S. app provides a streamlined solution for combining old workplace 401(k)s and IRAs into a modern retirement account, according to the company. This update means all users are now eligible to make tax-advantaged contributions directly through the platform, providing greater flexibility and control over their retirement planning.

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“We launched in the U.S. intent on placing retirement control back into consumers’ hands,” said Romi Savova, PensionBee’s CEO, in a statement. “Enabling Roth and traditional IRA contributions is the next step toward that goal, and a timely one, as U.S. consumers struggle against a backdrop of confusing retirement solutions.”

SMArtX Advisory Solutions Adds 5 Strategies to Manager Marketplace

SMArtX Advisory Solutions, a provider of unified managed accounts technology, added five strategies from leading asset management firms to its Manager Marketplace, now offering 1,547 strategies from 323 distinguished asset management firms.

Vulcan Value Partners, new to the platform, added a focus strategy, while Argent Capital Management, Main Management, NorthCoast Asset Management and Weatherstone Capital Management expanded their current offerings to respectively include focused small cap, hedged equity, equity income and tactical short-term bond strategies.

“We are thrilled to welcome these new strategies from respected asset managers to the SMArtX platform,” Brad Haag, SMArtX’s executive vice president of asset manager solutions, said in a statement. “As the second quarter approaches, we look forward to working with asset managers to further enhance the advisor experience with SMArtX.”

October Three Expands O3 PRIME Retirement Plan

October Three, a retirement strategy, actuarial and administration consulting firm, has expanded its O3 PRIME—Personalized Retirement Income for My Employees—lifetime retirement income plan.

The plan is a market-based cash balance plan integrated with a 401(k) plan that reduces risk and complexity for businesses while producing up to 30% more lifetime income for employees compared to what a defined contribution plan can provide, according to October Three. In 2023, October Three constructed the PRIME design and began implementing it for several clients. October Three rolled out a PRIME plan for its own staff in January.

“O3 PRIME goes beyond traditional retirement savings methods to create a plan that effectively balances the needs of employers and employees, to help employees secure their retirement without exposing their employer to excessive risk,” said Jeff Stevenson, October Three’s president and CEO, in a statement.

ARS Selects SS&C to Support Suite of Guaranteed Income Products

ARS, a guaranteed lifetime income solutions and technology provider for the defined contribution market, has partnered with SS&C Retirement Solutions to distribute and service its suite of Lifetime Income Builder retirement products.

ARS’ Lifetime Income Builder products, group fixed-indexed annuities with a guaranteed lifetime withdrawal benefit, will be available to recordkeepers on SS&C’s Retirement Income Clearing & Calculation platform. ARS will gain access to distribution opportunities across recordkeeping platforms for its suite of target-date funds integrated with Lifetime Income Builder, according to the companies. Recordkeepers can add Lifetime Income Builder funds to their offerings through their CUSIPs.

“To change the way Americans retire, we have to make it easier for recordkeepers to offer innovative solutions like Lifetime Income Builder,” said ARS Chief Operating Officer Abby Canfield in a statement. “The integration of the Lifetime Income Builder-based solutions and ecosystem with the SS&C RICC platform enables this by creating seamless fund administration capabilities.”

SEI Introduces SEI Strategies With Capital Group

SEI announced SEI Strategies with Capital Group, a lineup of all-exchange-traded-funds model portfolios offered in a unified managed account framework.

The portfolios provide flexibility to combine strategies and manage both geographic exposures and tax sensitivity, according to the company, which include:

  • Six SEI strategies with Capital Group;
  • Six SEI U.S.-focused strategies with Capital Group;
  • Six SEI tax-managed strategies with Capital Group; and
  • Six SEI U.S.-focused tax-managed strategies with Capital Group.

Among other features, the 12 new tax-managed models are designed to feature ETFs’ tax efficiency benefits; exposure to municipal bond ETFs for generation of tax-free income, systematic and opportunistic tax-loss harvesting; and an accompanying “Estimated Taxes Saved” report.

JPMorgan U.S. Research Enhanced Large-Cap ETF Launches on NYSE

J.P. Morgan Asset Management launched the JPMorgan U.S. Research Enhanced Large Cap ETF on the New York Stock Exchange.

JUSA is designed with a slightly lower active risk budget and a greater number of holdings, providing broader diversification, than other funds. This makes it an attractive option for investors looking for consistent returns in their U.S. equity exposure, according to the company. This ETF, managed by Ralph Zingone and Tim Snyder, expands J.P. Morgan’s Research Enhanced range, providing investors with a suite of investment strategies for long-term capital appreciation.

“JUSA exemplifies the core principles of J.P. Morgan Asset Management’s leadership in active ETFs,” said John Harrington, J.P. Morgan Asset Management’s global head of ETF product, in a statement. “By combining decades of experience in managing our time-tested Research Enhanced strategies with the innovative structure of the active ETF vehicle, we are delivering a solution that aligns with our tradition of excellence and commitment to innovation. JUSA demonstrates our ability to adapt proven strategies to meet the evolving needs of investors in today’s dynamic market and is an exciting addition to our active U.S. ETF offerings.”

BlackRock Offers Access to Liquid Alternatives with Managed Futures ETF

BlackRock Inc. introduced the iShares Managed Futures Active ETF, a liquid alternative strategy managed by Jeffrey Rosenberg, Richard Mathieson and Stephanie Lee.

ISMF employs a disciplined long/short approach to seek differentiated sources of return across market cycles, according to the announcement. The strategy is a potential portfolio hedge against market weakness and can be used as a diversifier by investing in non-traditional asset classes, including futures and derivatives, which have a tendency of low long-term correlation to traditional stocks and bonds across market cycles. It provides investors access to BlackRock’s $306 billion Systematic investment platform within an ETF wrapper.

“Managed Futures strategies have proven effective in delivering differentiated, counter-cyclical returns for investors over decades,” said Raffaele Savi, global head of BlackRock’s Systematic, in a statement. “ISMF can help more investors hedge and diversify their portfolios, regardless of market conditions.”

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