Corporate Roundup: Principal Names Brant Wong as Retirement Solutions Head, CCO Joins Ascensus
This week, Principal, Prudential, Ascensus, and MassMutual Financial Advisors all name a series of new hires.
Principal Names Brant Wong as Retirement Solutions Head
Principal Asset Managementhas hired industry leader, Brant Wong, as its first-ever head of retirement solutions, to lead the expansion and strategic growth of the company’s retirement investment franchise.
“Principal is focused on building investment solutions designed to support Americans as they continue to reshape the ways they think about and plan for retirement,” said Kamal Bhatia, president and CEO, Principal Asset Management. “In this new position, Brant will play a key role in our retirement investment product strategy across the asset management and U.S. retirement businesses at Principal, further ensuring we are continually connecting client needs with product innovation.”
Wong is a nearly 30-year veteran of the industry and former head of retirement platforms with J.P. Morgan Asset Management. Under Wong’s leadership, his team will leverage Principal investment solution capabilities to personalize the needs of plan sponsors and participants.
“As individual Americans plan for their ideal retirement scenarios, they put their trust in established retirement investment providers who can help them feel confident in their investment choices and the adequacy of their retirement income,” said Wong. “I’m proud to be joining Principal which is one of a few firms with expertise and service along an individual’s full investment journey and are well poised to continue to develop new and innovative solutions to meet their needs.”
Prudential Hires Retail and Advice Lead
Pat Hynes has been named president of Prudential Advisors, where he will lead Prudential Financial, Inc.’s retail and advice arm.
This business comprises more than 2,800 financial advisors and fee-based financial planners who offer clients, including more than 3.5 million American families, a range of financial advice and solutions.
“With his extensive knowledge of the financial services industry and the needs of advisors and clients, as well as his proven ability to care for talent and build high-performing teams, Pat is uniquely positioned to lead Prudential Advisors. Given our focus on setting a new standard for the advisor and client experience as our foundation for growth, I’m confident that Pat is exceptionally well-suited to help us achieve these priorities and capitalize on new opportunities in a rapidly evolving financial landscape,” said Caroline Feeney, CEO of Prudential’s U.S. Businesses, and incoming CEO of Prudential’s Global Retirement and Insurance businesses.
Hynes brings more than 25 years of experience in financial services. He currently serves as head of sales for Prudential Advisors, where he is responsible for business growth and oversees more than 20 firms across the country. Prior to that, Hynes served as president of Pruco Securities. Over his career he held various executive positions, including territory vice president and vice president of business development.
Hynes’s appointment is effective March 31, 2025, and he will be reporting to Feeney.
Hynes holds a bachelor’s degree from Iona College, a juris doctor degree from St. John’s University School of Law, and a master’s degree from NYU, Stern School of Business. Additionally, he holds FINRA Series 7 and 24 licenses.
Brad Hearn, current president of Prudential Advisors, has been named president and chief operating officer-elect of Prudential Holdings of Japan, also effective March 31, 2025.
Chief Compliance Officer Joins Ascensus
Phillip Gillespie has joined Ascensus as its new chief legal, risk and compliance officer. Gillespie reports to Ascensus Chair and CEO David Musto and is based in the company’s Newton, Mass. office.
“Against the backdrop of a rapidly evolving legal, risk, and regulatory environment for tax-advantaged savings, we are very pleased to have Phil join our team,” said Musto. “Ascensus is a market leader with a track record of success for clients while operating in a highly controlled, secure manner. With our strong growth trajectory requiring focus on technology, client experience, and AI, Phil’s more than 30 years of experience as a general counsel and commercial business partner, in private practice and as a regulator, make him a perfect fit for the opportunities ahead.”
Gillespie most recently served as senior counsel in the Investment Management and Securities Practice Group of Wilmer Cutler Pickering Hale and Dorr in Boston, Mass. Previously, he was EVP and general counsel for State Street Global Advisors, with responsibility for the global legal affairs of State Street Corporation’s asset management arm. Prior to State Street, Gillespie held legal function leadership roles with Oppenheimer Funds, Merrill Lynch Investment Managers, and Chancellor LGT Asset Management.
Earlier in his career, he served as a senior counsel with the U.S. Securities and Exchange Commission, as an associate with Perkins Coie, and on the staff of the U.S. Court of Appeals.
After earning his bachelor’s degree in Foreign Services from Georgetown University, Gillespie was awarded his juris doctor degree from Tulane Law School. He has served as an adjunct professor at Boston University Law School in the institution’s program for Banking and Financial Services since 2020.
Gillespie succeeds Joe Dansky, who earlier in 2024 shared his plans to leave Ascensus to pursue new career opportunities. Dansky will remain with Ascensus until early May to support the leadership transition.
Joe Mallee Promoted to Head of MassMutual Financial Advisors
Joe Mallee is heading to lead MassMutual’s network of financial professionals, reporting to Paul LaPiana, head of Brand, Product & Affiliated Distribution with MassMutual. He succeeds John Vaccaro,who has shared his plans to retire after a nearly 20-year career with MassMutual.
For nearly 15 years, Mallee has served as CEO and general agent of MassMutual Eastern Pennsylvania, a MassMutual agency. He previously held positions at Merrill Lynch, Guardian and Penn Mutual. In his new role as head of MassMutual Financial Advisors, Mallee will have a singular focus: to responsibly grow the reach, productivity and efficiency of MassMutual’s network of financial professionals to help even more people protect, grow and transfer wealth.
“John helped to build a distribution powerhouse during his tenure with MassMutual, attracting and retaining an enviable network of top-tier financial professionals and reaching millions of people to help them secure their future and protect the ones they love,” said LaPiana. “A proven leader in our network, Joe is well-positioned to build on John’s legacy and continue to attract top financial experts to help meet their clients’ protection and wealth management needs.”
Under Vaccaro’s leadership, client assets have grown to $274 billion in the company’s wealth management business under MML Investors Services, an independent broker/dealer and investment adviser subsidiary of MassMutual represented by over 6,500 financial professionals.
Mallee has served in various industry leadership capacities, including as a political ambassador for Finseca and as a past president of the Lehigh (PA) Valley chapter of NAIFA.
“Joe’s dedication to giving back extends not only to his community but also to shaping the future of the financial services industry and profession,” added LaPiana. “I look forward to the valuable contributions he will make to MassMutual, our network of financial professionals, and the clients they serve.”
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