Retirement Industry People Moves

Ilya Figelman has joined Acadian Asset Management as senior vice president and senior member of the research team. He will be based in the firm’s Boston headquarters and focus on asset allocation, macro-economic research and predictive signals across asset classes. 

Figelman was a founding member of the dynamic asset allocation group of AllianceBernstein (now AB) in 2009, where he served as a quantitative analyst and portfolio manager. He became research director of AB’s newly formed multi-asset solutions business in 2013. Previously, he held quantitative and analytical roles in other groups at AB, General Motors Asset Management and American Express.

John Chisholm, chief investment officer of Acadian, cites Figelman for his strong experience in multi-asset strategies and quantitative background.

Figelman holds a bachelor’s degree in systems science and engineering from Washington University in St. Louis and a master’s degree in financial mathematics from New York University. He has published several papers on equity momentum, options strategies and risk budgeting.

Acadian Asset Management invests on behalf of institutional investors such as pension funds, endowments, governments and foundations, as well as individual investors. As of December 31, the firm reports that it managed more than $66 billion in assets.

Jared Manville has joined Alpha Pension Group Inc. (APG) as a senior retirement plan consultant.

Manville comes from Marsh & McLennan Agency Retirement Services, where he was the managing director for the national agency since 2010.

As a senior consultant, Manville will assist in the management of Alpha Pension Group’s clients, join the senior leadership team and contribute to new business development.

Previously, Manville worked as a retirement plan adviser at National Retirement Partners in fiduciary oversight, plan design, investment analysis, the Employee Retirement Income Security Act (ERISA), Department of Labor (DOL) policy and legislative changes. Manville has also worked for MFS Retirement Services and The Hartford as a retirement relationship manager consulting with and guiding retirement plan sponsors.

Rich Cawthorne, president and founder of Alpha Pension Group, cites Manville for his talent and passion, as well as “an incredible amount of expertise.”

Manville holds a bachelor’s degree in finance and political science from Hartwick College in Albany, New York. He holds the Accredited Investment Fiduciary (AIF) designation as well as his FINRA Series 6, 63 and Life licenses. Manville is also a member of the Retirement Advisor Council (RAC) and is the chairperson for the Standards & Ethics Committee for Council, a nationally recognized organization of retirement and financial advisers.

Alpha Pension, in Lexington, Massachusetts, is a fiduciary adviser to ERISA retirement plans.

Zack Demers has joined Pentegra Retirement Services as regional director for qualified retirement plan sales. He will spearhead business development efforts in New England.

An accomplished retirement services professional, Demers brings deep knowledge about retirement services, after working in several areas of the industry. Most recently, he was retirement relationship manager-advisory channel for Alerus Retirement Solutions. Before that, he was a hybrid wholesaler for Retirement Alliance Inc. and Fiduciary Consulting Group LLC.

Demers reports to Pete Swisher, Pentegra’s senior vice president of national sales, who cites Demers for his extensive knowledge of qualified retirement plan solutions, strong relationships, and a solid track record of success.

Demers attended the University of New Hampshire and holds his FINRA Series 6, 63 and 65 licenses, as well as the Accredited Investment Fiduciary (AIF) designation. He holds life, accident insurance and health insurance licenses for the state of New Hampshire.

Jeffrey Capone has been named a partner and senior consultant at Fiduciary Investment Advisors LLC. He most recently served as a senior consultant since joining the firm in 2009. Capone provides strategic investment consulting services to nonprofit and corporate sponsors, and has been advising institutional clients for more than 15 years. 

Vincent Smith has been named a partner and senior consultant. He most recently served as a senior consultant since joining the firm in 2011. Smith provides consulting services to plan sponsors including fiduciary governance and oversight, investment policy statement development and review, investment menu design, and investment monitoring and selection. He has been advising institutional clients for more than 15 years.

Cory Blankenship has joined USI Consulting Group as an associate vice president and relationship manager, retirement services. He is based in Knoxville, Tennessee.

Blankenship has more than nine years of experience in nonprofit management, tribal governance and tribal finance. He was previously treasury director and director of finance and management with the Eastern Band of Cherokee Indians’ Office of Budget and Finance. He served there for five years, acting as a voting member of the tribe’s investment committee with responsibilities for two major endowment funds, a debt service fund and the tribe’s minor trust fund. He was responsible for the daily financial operations of the highly successful sovereign Indian Nation, including treasury management, banking relationships, disbursements, member benefits, human resources management, risk management, budgets and accounting.

Blankenship holds a bachelor’s degree in political science from North Carolina State University and was awarded the Park Scholarship, the university’s highest academic honor. He holds a master of public affairs degree from Western Carolina University, and a Master of Jurisprudence Indian Law from the University of Tulsa College of Law. Blankenship is active with the Government Finance Officers Association and Native American Finance Officers Association.

Joseph D. Gastaldi has joined Cafaro Greenleaf to head the firm’s South Bend, Indiana, office.

Gastaldi, who has over 27 years of financial service experience and more than 10 years in the qualified plan space, will educate plan sponsors, helping protect them from fiduciary liabilities and optimize plan design; while at the same time improving participant outcomes.

Wayne Greenleaf, managing principal of CG, cites Gastaldi for his breadth of experience and success in implementing retirement plans.

Gastaldi holds the Accredited Investment Fiduciary (AIF) designation and the Certified 401k Professional (C(k)P) designation. He holds a bachelor’s degree in economics from Pace University. He also holds his FINRA Series 7, 63 and 66 licenses; as well as licenses for life, health, disability and LTC insurance.

Cafaro Greenleaf is an advisory firm for corporate and public retirement plans.

Michael Taggart has joined the health and group benefits brokerage and consulting team of Southern Employee Benefit Practice of Milliman.

Taggart will be responsible for business and product development strategies, as well as managing client teams that deliver Milliman’s consulting advice, actuarial services and proprietary tools.

Taggart has more than 30 years of senior-level experience working with large corporations in health care benefits strategy, outsourced benefits administration, and financial management of benefit programs. He has gained national recognition as a thought leader on employer health care benefit strategy and the impact of technology.

Before joining Milliman, Taggart was president of Empyrean Benefit Solutions and co-founder/president of Synhrgy HR Technologies. His previous roles include national practice leader of health care analytics for Aon Hewitt; executive director of MethodistCare HMO; and regional practice leader, health and benefits at Mercer.

Taggart holds a bachelor’s degree in finance with a major in actuarial science from the University of Texas at Austin. He is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.

Anne Stausboll, chief executive officer for the California Public Employees’ Retirement System (CalPERS), has said she will retire as the head of the nation’s largest public pension fund on June 30.

Stausboll will leave the system after serving more than seven years as its CEO, following her appointment in January 2009.

Stausboll assumed the helm of CalPERS during a volatile time in the organization’s history. CalPERS had lost nearly 30% of its investment assets following the recession and found itself embroiled in an ethics scandal by former officials, including its former CEO.

Under her leadership, CalPERS has strengthened ethics, transparency, and internal controls through governance and operational improvements, including sweeping reforms and laws related to placement agents; implementing a risk mitigation policy and an Asset Liability Management program to ensure long-term sustainability of the pension system and Increasing competition and reducing health care costs. The pension fund also saw its assets grow, from $170 billion to more than $275 billion, during Stausboll’s tenure.

“CalPERS is a better organization because of Anne,” said Rob Feckner, president of the CalPERS Board. “She led us through a difficult period, and we have emerged as a more accountable, transparent, and smarter institution. We will miss her, and we wish her the very best in her future endeavors."

In addition to her role as CEO, Stausboll served as CalPERS chief investment operating officer since 2004 during a time she was twice tapped to be interim chief investment officer. She also worked in the pension fund’s legal office for six years as a staff attorney and deputy general counsel.

The CalPERS Board will conduct an immediate search for her replacement.