Retirement Industry People Moves

A team of international growth equity investors has joined Macquarie Group’s Delaware Investments from UBS Asset Management.

Based in San Diego, California, and led by Joseph Devine, the chief investment officer, the team specializes in international small-cap, emerging markets, and emerging markets small-cap equities, and reports bringing approximately $300 million in assets (as of March 1) under management to Delaware Investments.

“This team is a strong fit with our multi-boutique platform and plays an important role in meeting the needs of clients seeking more global exposure and active management in inefficient markets,” says Shawn Lytle, president, Delaware Investments.

Most of the team’s members have been together for more than 10 years. Other members are: senior portfolio manager Stephan Maikkula; senior equity analysts Barry Kendall and Thomas Pak; equity analyst James Brandt, and portfolio analyst Jay Su Erickson. Devine will report to Lytle.

Delaware Investments, a member of Macquarie Group, is a global asset management firm.

RTD Financial Advisors Inc. (RTD), a Philadelphia firm, has acquired Pinnacle Financial Advisors LLC of Marlton, New Jersey, and Bala Cynwyd, Pennsylvania.

The combined firm will have 34 employees with over 45 professional designations, including 16 Certified Financial Planner (CFP) practitioners and six who hold masters of business administration degrees. The firm will manage more than $1 billion in private client and company retirement plan assets.

Richard J. Busillo, chairman and chief executive of RTD, says Pinnacle’s culture and focus align perfectly with RTD’s. The firms also share a similar investment approach and philosophy.

Pinnacle’s principals are Harry Scheyer and Jeff Metz.

Michael Cagnina has joined SEI as vice president and managing director of North American sales for the institutional group.

Cagnina will oversee new business development for the institutional market segments in the U.S. and Canada, including corporate defined benefit and defined contribution plans, multiemployer plans, public pension plans, health care organizations and nonprofit foundations, and endowments.

Cagnina, who has been with SEI for 24 years, replaces Paul Klauder who was named executive vice president of SEI and head of the institutional group in January, after Edward Loughlin’s retirement. Cagnia worked alongside Klauder for 22 years in the institutional group. 

Previously, Cagnina was a managing director of the institutional group's Chicago office, where he fostered new business relationships with large institutional investors across the country. Before joining the division, Cagnina worked for SEI Capital Resources in portfolio analysis and client service.

A new leadership team, led by chief executive officer Matthew Seymour, has been assembled at RiskFirst.

Seymour has been with RiskFirst since 2009, most recently as commercial director. He has 17 years’ experience in the technology industry, 14 years in FinTech (financial technology). Before coming to RiskFirst, he was co-owner and chief technology officer of FundWorks, a global FinTech serving the investment management industry.

Matthew Bale, chief strategy officer on the team, joined RiskFirst in 2009. Previously, he worked in both the actuarial and investment arenas, most recently in Citi’s insurance and pensions structured solutions group. His experience has guided the evolution of PFaroe into consulting and asset management.

Darren Best, the team’s chief financial officer, came to RiskFirst in 2008. Previously, he  was a qualified actuary, advising on pension fund design, management and reporting, both in the U.K and U.S.

The chief technology officer, Nick Francis, moved to RiskFirst in 2009, after 17 years as technical director of his own technology consultancy, running large projects for blue-chip companies in the U.K. and Europe.

Rob Stuart, general counsel, joined RiskFirst in 2009. Previously, he was an in-house lawyer for a London hedge fund, and general counsel for a multinational insurance and reinsurance company.

With experience in financial services, and the actuarial and technology industries, the team will set the company’s future strategic direction, drive growth into new markets and maintain the U.S. and U.K. standing of PFaroe, the risk management platform for the pension industry.