Retirement Industry People Moves – 5/17/24

Mercer Advisors’ Lellis Transitions to Support M&A Partner Development

Martine Lellis

Mercer Global Advisors Inc., a registered investment adviser firm, announced that Martine Lellis, currently the chief talent officer at Mercer, will transition to a newly created role of principal of merger and acquisition partner development.

Mercer has started a national search for a chief talent officer to replace Lellis’s prior role.

Adding Lellis to the M&A development team is part of the company’s goal of ensuring the success of firms that join Mercer Advisers.

”Martine’s deep understanding of our client and adviser experience, as well as her years of building, developing, and growing our talent, make her an invaluable asset in identifying and integrating like-minded firms into our organization,” said Dave Welling, CEO of Mercer Advisors, in a press release. ”Our deep bench at the senior leadership level also allows us to make these types of transformational changes without business interruption”

Lellis has a nearly two-decade career in the independent wealth management space. She first began her wealth management career at Sullivan, Bruyette, Speros & Blayney in 2022, eventually becoming chief operating officer.

The Retirement Advantage Adds New Regional Plan Consultant

John Caraang

The Retirement Advantage Inc., a provider of retirement services nationwide, announced the addition of John Caraang as the team’s newest regional plan consultant.

In his role, Caraang will oversee key territories spanning Alaska, Northern California, Idaho, Oregon and Washington. He will directly report to Darin Erdmann, TRA’s director of sales and distribution.

With over a decade of experience in the financial services and retirement plans sectors, Caraang most recently served as a regional sales consultant at Cuna Mutual Group.

Waldron Joins Empower as Chief Compliance Officer

KC Waldron

Empower has tapped KC Waldron to head its compliance division, including the management and development of the firm’s compliance program. She is also charged with ensuring that the company’s compliance standards adhere to all applicable federal and state regulations and corporate policies.

“Doing the right thing and leading with integrity is how we have built our businesses and as we continue to grow, KC’s leadership will help enable new strategies for the benefit of Empower’s customers,” said Edmund F. Murphy, III, president and chief executive officer for Empower, in a press release.

Waldron previously worked at Charles Schwab for 12 years, where she was most recently managing director, chief compliance officer of Schwab Wealth Advisory Inc. and head of Wealth & Advice Solutions compliance.

Waldron joined Empower on May 7 and reports to John Bevacqua, executive vice president and chief risk officer.

Prudential Appoints New Head of Global Investment Strategy

Andrew Yorks

Prudential Financial announced that Andrew Yorks will join the company as head of global investment strategy, effective July 15. Yorks will report to Tim Schmidt, senior vice president and chief investment officer.

Yorks will be responsible for developing investment plans and asset/liability management strategies for Prudential’s general account. He will also be responsible for identifying and assessing new investment opportunities and monitoring overall portfolio risks, as well as serving as the “key liaison” with PGIM asset management units and corporate functions.

Currently, Yorks is CIO at Resolution Life U.S., where he manages the company’s investment portfolio and sets the overall strategic direction of the company. In addition, he helps develop Resolution Life Groups’ investment strategy and process.

Prior to this role, Yorks was a senior vice president and head of alternatives and private debt strategies at Lincoln Financial Group. He has also held leadership positions at several asset managers including BlackRock and Alliance Capital.