Retirement Industry People Moves – 5/24/24

Hopkins Promoted to Executive VP of WSFS Financial Corporation

Jamie Hopkins

Jamie Hopkins has been promoted to executive vice president, chief wealth officer of WSFS Financial Corporation.

Hopkins is elevated to the position after just taking a job in October 2023, of senior vice president and director of private wealth management with partner firm Bryn Mawr Trust. In his new role, he will lead WSFS’s wealth management segment including Bryn Mawr Trust, WSFS Institutional Services, WSFS Private Banking, and other divisions within the firm.

Hopkins left Carson Group to join Bryn Mawr Trust and WSFS; he had been managing partner of wealth solutions at that firm.

WSFS also named David Burg to the firm as executive vice president and chief financial officer starting on August 15. Burg joins the firm with experience including nearly 17 years in senior leadership roles at Citigroup.

The firm also named Arthur Bacci to the role of executive vice president, chief operating officer. Bacci joined WSFS in 2018 as executive vice president, chief wealth officer, the role Hopkins is stepping into, and has been interim CFO since August 2023.

Abrdn CEO Bird Resigns, Search on for New Leader

Stephen Bird

Abrdn plc CEO Stephen Bird is stepping down as the Edinburgh-based asset management firm sets out to find “fresh leadership.”

The firm noted the change coming after it has completed a “critical first stage” of “transformation into a modern and digitally-focused specialist asset and wealth management company.” The firm, which has defined contribution investment only and pension funds, has suffered fund outflows in recent years after a rebranding from Standard Life Aberdeen to abrdn, according to earnings reports. On April 24, the firm reported a positive 3% rise in assets under management and administration.

Jason Windsor, currently group chief financial officer, will be interim CEO as the firm looks for both external and internal candidates. Bird has been in the role for four years, and will help in the search process until June 30, according to the announcement.

“I am immensely proud of the work we have done together to simplify abrdn and position the company for sustainable growth,” Bird said in a statement. “Together with a refreshed leadership team and an incredibly committed group of colleagues at all levels, we have refocused our global Investments business as a specialist asset manager, working to address its cost base and build mutually beneficial linkages with our wealth businesses.”

Principal Adds Retirement & Income Content Strategy Head

Daniella Moiseyev

Principal Financial Group has named Daniella Moiseyev to head of content strategy in the Retirement and Income Solutions division.

In the new role, Moiseyev will help to drive growth through content strategy across product, thought capital and audiences. She was previously head of marketing for Smart USA Co.

Anisha Gangwani Appointed CIO of Legal & General America

Anisha Gangwani

Pension risk transfer provider Legal & General Retirement America appointed Anisha Gangwani as its new CIO, effective immediately, a spokesperson for the firm tells CIO. Gangwani will be based in the firm’s Connecticut office as it continues a buildout of its pension de-risking services in the U.S.

Gangwani will succeed Alla Klayner, who had served as CIO starting in November 2020 and will be ascending to the role of chief financial officer at the firm.

Prior to her appointment as CIO, Gangwani was the head of investment business at Legal & General between 2019 and 2024, based in London, and was previously an international investment strategy manager at the firm. Previously, she was the head of illiquid investments at Direct Line Group.

Legal & General Retirement America is a provider of pension risk transfer services in the U.S. and the U.K. The firm has closed $10 billion in written PRT premiums since 2015. The pension risk transfer market set a record year for transactions in 2023, a trend that could continue into the first quarter of 2024 as more corporations consider what to do with their pension funding surpluses. 

Norton Rose Fulbright Adds DC Partner Greg Ossi

Gregory Ossi

Law firm Norton Rose Fulbright has named ERISA litigator and labor lawyer Gregory Ossi a partner in the firm based in Washington, D.C.

Ossi, formerly of Faegre Drinker, will join to work on labor law issues and ERISA-related litigation matters for clients in the energy production, mining, government contracting, hospitality, manufacturing and construction industries. He counsels employers on a variety of issues including retiree healthcare with an emphasis on multiemployer pension withdrawal liability, according to the firm. He also has experience negotiating retirement and healthcare plans under collective bargaining agreements.

“ERISA litigation is booming, and Greg has a valuable skillset in this area that our clients will appreciate,” Shauna Clark, Norton Rose Fulbright’s U.S. head of employment and labor, said in a statement. “His extensive experience in traditional labor law also makes him an excellent fit for our employment and labor practice.”

Ossi also litigates disputes regarding pensions, health benefits, unfair labor practice charges and labor issues arising from collectively bargained agreements.

Nossaman Adds Public Pensions and ERISA Attorneys

Nossaman LLP has hired Michelle Mellon-Werch and Don Meaders to its Pensions, Benefits & Investments Group.

Mellon-Werch joins from the Texas Municipal Retirement System and will serve as a partner in the Austin office. She will advise on pensions, benefits and investment plans on fiduciary duties, plan governance, administration and compliance. She comes with 18 years of experience counseling government entities and other organizations on retirement plans and other institutional funds.

Meader joins from Manatt, Phelps & Phillips LLP and will be a partner in the Los Angeles office. His practice will focus on employee benefits and ERISA, bringing experience with advising clients on issues related to institutional pension and welfare plans, both private and public. He has experience in fiduciary matters, tax compliance considerations as to both pension and welfare plans, and the concerns of institutional health plans as acquirors of managed and other health care services.

“Michelle and Don have extensive experience in the institutional plan space, which complements the ERISA and tax-compliance expertise we added to our bench during 2023 and builds on the strengths of our practice serving pension plan boards and systems, as well as other institutional investors, nationally,” Ashley Dunning, co-chair of the Pensions, Benefits & Investments Group, said in a statement. “Their skillsets will offer immediate benefits to our clients.”