In this week’s roundup, we hear from MFS and Lazard Asset Management, both of whom announced new additions to company divisions. Ameritas also reports over a billion in asset sales and Strongpoint Partners announces a new partnership with Retirement Strategies Group.
MFS hires retirement lead strategist
MFS Investment Management (MFS) has hired Jeri Savage as retirement lead strategist, effective immediately. In her role, Savage is responsible for leading the firm’s defined contribution (DC) thought leadership, including trends, best practices and regulatory and legislative developments.
“We’re thrilled that Jeri is joining our team. She brings decades of experience researching and monitoring developments in the defined contribution space, and her consulting expertise will be a great asset to our clients,” said Jonathan Barry, managing director of the Investment Solutions Group at MFS Investment Management. “We look forward to Jeri’s added perspective as we help clients understand the implications of the recently enacted Secure Act 2.0,” he added.
Savage has over 20 years of experience in research and analytical roles with investment and consulting firms. She joined Rocaton in 2011, where she was a partner and head of DC research. After that firm was acquired in 2019 by Goldman Sachs Asset Management, she became head of DC research in its Multi-Asset Solutions Group.
Prior to joining Rocaton, Savage worked for Evaluation Associates, where she spent several years as an equity research associate. She is currently on the Editorial Review Board of the Defined Contribution Institutional Investment Association (DCIIA) and previously held a leadership role in the organization’s Retirement Research Center.
Savage graduated with a bachelor’s degree in business economics from Brown University and earned a master’s degree with distinction in finance and marketing from New York University’s Stern School of Business.
Lazard Asset Management appoints managing director of North American Distribution
Lazard Asset Management (LAM) announced that Jennifer Ryan has joined the firm as managing director and head of North American Distribution, effective immediately.
Based in New York, Ryan joins from BlackRock where she held leadership roles in both its U.S. and U.K. Institutional Client Businesses. As a member of the senior leadership team for Lazard’s Asset Management business, she will be responsible for LAM’s business development in North America and will oversee its Institutional Client Group, Financial Institutions Group, Alternative Investments Sales, and Consultant Relations Group.
“Jen brings to Lazard over 25 years of experience in the asset management industry. She has a deep understanding of the North American market, the trends that are driving its evolution, and the strategies needed to grow and develop both our intermediary and institutional client businesses,” said Evan Russo, chief executive officer of Lazard Asset Management. “Her appointment underscores our commitment to providing outstanding service and differentiated investment solutions to meet the continually evolving needs of our clients.”
“This is a fantastic opportunity to further optimize LAM’s distribution capabilities in North America,” said Ryan. “Lazard is a well-established global brand, and I am looking forward to working with its outstanding distribution teams to increase our presence in the region and continue to provide world-class investment solutions to new and existing clients.”
Ryan joins Lazard from BlackRock where she spent six years in senior leadership roles in both its U.S. and U.K. Institutional Client Businesses. Previously, she spent 19 years at Goldman Sachs Asset Management in several key client-facing roles, including head of U.S. Consultant Relations, co-head of endowments and foundations and head of New York Bank Intermediary Sales. Ryan started her career as a product strategist in the Global Liquidity business at Goldman Sachs. She earned a bachelor’s degree in english and international studies from Boston College, and a master’s degree from Columbia Business School.
Ameritas reaches over a billion in asset sales
Ameritas has announced it placed over $1 billion in new asset sales and over 1,500 plans, a first in a single year for the retirement plans division.
The one-billion-dollar new asset sales and plans mark mainly represents the 401(k), multiple employer plans (MEPs), 403(b) and governmental retirement programs for the year 2022.
“We believe this growth is a testament to our efforts to build trusting relationships and gain the confidence of the marketplace to deliver meaningful technology and strong service levels in our journey to be recognized as a ‘main street market leader’ in retirement plans,” said Jim Kais, executive vice president at Ameritas.
The milestone also comes at the one-year mark of Ameritas’ acquisition of BlueStar Retirement Services, a former subsidiary of Ameritas Life Insurance Corp. that specializes in MEPs, open architecture retirement plans and in serving RIAs [registered investment advisors]. BlueStar is now fully integrated into Ameritas’ retirement plans division.
Ameritas retirement plans serves a national client base of 8,100 plans, 250,000 participants with a balance and $17.5 billion in assets under administration.
Strongpoint Partners announces partnership with RSG
Strongpoint Partners is partnering with Retirement Strategies Group (RSG) to offer expertise to financial advisors, brokers, and plan sponsors.
Retirement Strategies Group is an independent, third-party administration firm headquartered in New Orleans.
“RSG is extremely proud of the business and reputation we’ve built over the last 20 years, but we were looking for a partner that could help take us to that next level,” said Joey Bender, co-founder of RSG. “Joining Strongpoint Partners gives us the infrastructure, access to other industry leaders, and tools we need to continue to evolve RSG to meet the demands of a rapidly growing marketplace. Strongpoint recognized the value of the brand we’ve built, and rather than consume it, gave us tools to empower our brand and our people, which reinforces why we’re so excited about joining the Strongpoint Partners family of brands.”
“As we expand our investment in the retirement plan administration marketplace, it is key that we identify partners that share the same customer-centric service culture that differentiates the Strongpoint Partners family of brands from the rest of the industry,” said Danny Hest, chief executive officer at Strongpoint Partners. “RSG personifies that approach. In just a few short weeks, we’re already seeing the benefits of RSG’s extensive experience and expertise. We are excited about investing in the RSG brand to increase the breadth of products and services they can deliver to their clients across the southeastern United States.”
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
