Retirement Industry People Moves

After 21 years as chief executive officer, Thomas J. Moran will retire from Mutual of America Life Insurance Company at the end of March. He will continue serving as chairman, a position he has held since 2005. John R. Greed, the current president, will succeed Moran as president and chief executive starting April 1.

Moran has been with Mutual of America for four decades, joining in 1975, a year after graduating from Manhattan College in New York City. Over the years, he has held key positions before succeeding his predecessor and mentor, William J. Flynn, as chief executive and president in 1994.

Under Moran’s leadership, Mutual of America expanded its 403(b), 401(k) and 401(a) Thrift plan and individual product premiums, from approximately $225 million in 1994 to more than $1.6 billion in 2015, which represents a compound annual growth rate of 10%. Moran has also served in several insurance industry leadership positions, including his past service as chairman of the Medical Information Bureau and as chairman of the Life Insurance Council of New York.

Moran established the Mutual of America Foundation Community Partnership Award in 1996, and has supported numerous charitable and educational organizations. He has served as chairman of the Board of Concern Worldwide U.S. for more than a decade. He was appointed Chancellor of Queen’s University in Belfast, Northern Ireland, in 2015.

Moran says Greed “has been an integral member of our senior leadership team for nearly two decades. He possesses the right combination of experience, expertise and vision to lead the company, while remaining committed to meeting the needs of our customers.”

Greed was appointed president of Mutual of America last March, succeeding Moran. Previously, Greed served as senior executive vice president and chief financial officer and, before that, as executive vice president and treasurer.

Prior to joining Mutual of America, Greed was a partner with Arthur Andersen. He currently serves on the board and executive committee of the Greater New York Councils of the Boy Scouts of America.

“Tom Moran’s vision, leadership, commitment and compassion are second to none,” Greed adds. “Tom has taught me so much about the retirement savings business over the past 20 years; however, equally as important, he has taught me even more about people, caring, giving back and making a difference in the world however you can.”

Doug Igel has joined Beacon Pointe Advisors to run its retirement plan advisory practice.

Igel will be responsible for the design, management and delivery of services within the group, leveraging Beacon Pointe’s manager research capabilities and institutional scale.  

Igel was formerly a vice president and managing consultant of the retirement practice at Precept Advisory Group. With the benefit of his leadership and more than 19 years of industry experience, Beacon Pointe will now offer investment management services to 401(k) and 403(b) plans, as well as other services, including fiduciary oversight, plan consulting, fee benchmarking and vendor reviews, participant financial wellness and ERISA (Employee Retirement Income Security Act) plan consulting.

Felix Lin, president of the firm’s institutional consulting services group, cites Igel’s strong, in-depth knowledge and understanding of the 401(k) and 403(b) space and says he is well-positioned to provide clear, objective advisory services and investment guidance for retirement plans, given the amount of discussion around Department of Labor fiduciary regulation.

Igel holds designations as a Certified Investment Management Analyst (CIMA), as an Accredited Investment Fiduciary (AIF), and a Certified Retirement Administrator (CRA). He holds a bachelor’s degree in business administration with a concentration in finance from Colorado State University and a master’s degree in business administration from Regis University in Denver.

Beacon Pointe Advisors is an independent investment advisory firm that reports it has over $7.5 billion in assets under management (as of June 30, 2015).

Diane Garnick has joined TIAA (formerly TIAA-CREF) as managing director and chief income strategist.

An industry thought leader with two decades of experience structuring retirement and investment solutions, Garnick is responsible for advancing the strategy, development and modernization of TIAA’s lifetime income solutions across the firm’s portfolio of products and services. In this role she is also tasked with helping to simplify the complexities surrounding lifetime income products for the thousands of institutions and millions of individuals TIAA serves.  

Previously, Garnick was a global investment strategist at State Street Global Advisors and Invesco. She was also a member of the top-ranked Institutional Investor Equity Derivatives research team at Merrill Lynch.

Garnick holds a bachelor’s degree in accounting from Hofstra University, and a master’s degree in finance and strategy from the University of Chicago Booth School of Business. She is a Certified Public Accountant (CPA) and serves on the board of the CFA Institute Research Foundation.

Anna Toy has joined Pentegra Retirement Services as a regional director for qualified retirement plan sales in Northern California.

She will spearhead business development in the area, marketing qualified retirement plan and fiduciary outsourcing solutions.

Toy, who has more than 20 years of experience in the financial services industry, has concentrated on retirement plans for the past 10 years. Her previous roles include regional retirement specialist at Principal Financial, regional vice president at Ascensus and retirement services district manager at ADP.

Toy reports to Pete Swisher, Pentegra’s senior vice president of national sales, who cites her track record, deep knowledge of qualified retirement plan solutions, and strong relationships. She holds FINRA Series 7 and 63 licenses, as well as California Life, Health and Ethics licenses. She holds a bachelor’s degree in finance from San Francisco State University.

NEXT: Dupont Capital Management promotes three to executive sales positions

DuPont Capital Management has named three to executive sales positions. Each will take over a dedicated sales territory and report to Tim Sweeney, managing director, business development and client service.

Jeffrey M. Fasino, who previously managed the firm’s marketing department, will be responsible for dedicated sales territory in New Jersey and the Southwestern United States. Before joining DuPont Capital, Fasino held various marketing and client service roles at Delaware Investments. He holds a bachelor’s degree in finance and marketing from the Drexel University LeBow College of Business and a master’s degree in business administration in management from Eastern University.

A. Corey Mayo, previously an associate on the marketing and business development team covering small institutional plans, will have responsibility for the West Coast, Upper Midwest and Asia. Before joining the firm, Mayo was a client service associate with CenterSquare Investment Management, and also held marketing and client service roles with Delaware Investments. He holds a bachelor’s degree in business administration from Bucknell University, and a master’s degree in business administration with a concentration in Finance from the Drexel University LeBow College of Business.

William J. Perrone, previously a marketing analyst for the firm, will focus on upstate New York and the Central Southern United States. Before joining DuPont Capital, Perrone held various marketing roles with Echo Point Investment Management and the Vanguard Group. Perrone holds a bachelor’s degree in business administration from the University of Mississippi, and a master’s degree in business administration from Pennsylvania State University.

Semper Capital Management, a boutique investment manager specializing in mortgages and other asset-backed investments, has hired Clarence Williams as managing director of institutional sales.

Williams will be based in New York and will be responsible for driving Semper’s focus on institutional clients. A veteran in the institutional arena with over 18 years of experience advising institutional clients on a variety of asset classes, Williams previously served as managing director at Mariner Investment Group, LLC.

“I am excited to join the Semper team and look forward to continuing and expanding the firm’s presence in the institutional space as a credit solutions provider of attractive risk adjusted returns,” he says.

Williams is also the vice president and treasurer of the New York Chapter of the National Association of Securities Professionals. He holds a master’s degree in finance and marketing from the Massachusetts Institute of Technology and a bachelor’s of arts degree from Wesleyan University.