MFS appoints CIO
MFS Investment Management (MFS) has announced that Alison O’Neill will become the firm’s chief investment officer, effective January 1, 2025.
She will also become a member of the firm’s management committee. O’Neill will oversee the firm’s 300-person strong Investment team, which includes the firm’s Equity, Fixed Income, Quantitative Solutions and Global Trading teams.
She will succeed Edward M. Maloney, the firm’s current CIO, who, as announced in December, will become the firm’s new CEO, also effective January 1.
“Alison is an exceptional leader and culture carrier. She brings valuable investment knowledge across industries and sectors to her role as CIO, as well as deep conviction in the firm’s long-term-focused investment platform. During her nearly 20 years with the firm, she has been involved in hiring and mentoring many members of the investment team and has collaborated with leadership across the department to help enhance our investment platform,” said Maloney. “Alison is a fantastic teammate in the truest sense of the word, and we look forward to her bringing her unique experience and perspective to MFS’ Management Committee.”
O’Neill joined MFS in 2005 as an equity research analyst, was named director of research for North America in 2016, added a diversified portfolio management role in 2018 and was named co-CIO of Equity in 2020. She has worked in the industry since 2000.
Corebridge welcomes board of directors member
Corebridge Financial, Inc. has elected Deborah Leone to its Board of Directors as an independent director.
Ms. Leone is a financial expert and retired partner of the Goldman Sachs Group, Inc., having spanned a 30-year career at the multinational investment bank and financial services company. She most recently served as chief operating officer for its then Investment Management Division (IMD). In this role, Leone worked on the development and execution of IMD’s strategic initiatives, as well as the operations of Goldman Sachs Asset Management (GSAM) and Private Wealth Management (PWM) businesses globally. Throughout her tenure, she held senior leadership roles including Global Head of Internal Audit for the firm.
“We are very pleased to add someone with Deb’s broad experience and background to the Board of Corebridge Financial,” said Peter Zaffino, chairman of the Board of Directors of Corebridge Financial. “Deb brings significant expertise across operations, audit and digital that will be extremely beneficial to Corebridge.”
Leone serves as director of the Goldman Sachs Bank USA Board, where she chairs the Audit Committee. In 2021, she joined the board of Organon, a global healthcare company with a focus on women’s health, where she serves on the Audit Committee. Leone is also a member of the board of trustees at Syracuse University.
Savvy expands team with new wealth managers
Savvy Advisors Inc. has added three new wealth managers to bring the firm’s total to 15 professionals who specialize in wealth management for high-net-worth clients.
“At Savvy, we are striving to set a new standard for wealth management by creating a future where services are seamlessly integrated, personalized and focused on delivering extraordinary client experiences,” said GinaRose Galli, growth leader at Savvy Wealth. “We are thrilled to partner with these experienced and passionate advisors, who can effectively use our technology to unify every aspect of their clients’ financial lives.”
The three new professionals include Aaron Wiegman, who is based in Del Mar, California. Wiegman has over 20 years of experience in the financial services industry. In addition to his position at Savvy, Wiegman is currently serving on the board for the San Diego Chapter of the Financial Planning Association.
Arynton Hardy, based in Los Angeles, specializes in financial planning for clients with unique income streams, including professional boxers, creators and founders who have successfully exited their ventures. Early in his career, Hardy worked as an analyst at The Pacific Group and a financial advisor at Merrill Lynch. In 2019, he launched an independent advisory firm, Hardy Capital Investments, a brand he will maintain within Savvy’s advisor network.
Dustin Parsons, who is based in Central Arkansas, comes to Savvy after 13 years with Arvest Bank. He started his financial career as a personal banker and transitioned to the role of client advisor for Arvest Wealth Management in 2017.
“Onboarding top financial advisors is just as important as product innovation,” added Ritik Malhotra, co-founder and CEO of Savvy Wealth. “To achieve our ambitious growth goals, it is imperative that we partner with accomplished wealth managers who can not only successfully implement our proprietary technology to enhance their practice, but also offer valuable feedback to help us further improve the solutions that we offer advisors and their clients.”
Lincoln introduces annuity-based strategy
Lincoln Financial Group has introduced the 1 Year S&P 500 Dual Trigger (Dual Trigger) account option for its fixed indexed annuities – designed to provide upside growth potential in up, flat and even down markets.
This enhancement comes as consumers express concerns about inflation (66%), losing money on investments (42%) and market volatility (38%), according to recent data from Lincoln Financial. The same recent study also shows that most consumers (61%) are looking for investments that offer an equal mix of growth and protection.
“The demand for products that protect principal and offer growth opportunities will continue to be strong in the coming years, with industry experts forecasting that fixed indexed annuity sales will reach nearly $100 billion in 20252,” said Daniel Herr, senior vice president, Annuity Product Management at Lincoln Financial Group. “Lincoln Financial’s product enhancements are designed to help meet market needs by simplifying strategies to allow investors opportunities to grow their account value while remaining protected against volatility.”
In addition to the Dual Trigger option, Lincoln is introducing the 1 Year S&P 500 10% Daily Risk Control Trigger for Lincoln OptiBlend fixed indexed annuity to offer opportunities for more growth potential in up or flat markets.
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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.