Nuveen continued its DCIO buildout by appointing several key executives, the firm announced on Tuesday. The move builds on the firm’s second consecutive year of growth since re-positioning its DCIO business in 2015.
“Demand for our retirement plan investment solutions has been robust with our active and index target date strategies seeing particularly high levels of inflows as a result of their competitive performance, strong showing in industry rankings and relatively low costs,” Erin Donnelly, executive vice president and head of Nuveen’s DCIO business, said in a statement
Donnelly added that Nuveen’s DCIO business grew nearly 40 percent in 2017, which she claimed “is a testament to the competitive offering we have for plan sponsors, consultants and advisors. Our success in this business segment has certainly been an advantage in attracting top talent to support our plans to continue growing in this business in the year ahead.”
Additions to Nuveen’s DCIO team include
- Peter Whitman joined the firm as managing director responsible for DCIO Strategic Accounts reporting directly to Donnelly. He will oversee the firm’s retirement presence across recordkeeping, retirement intermediary and other third-party retirement platforms and relationships. Whitman will also focus on building Nuveen’s retirement sub-advisory business.
- Greg Koleno joined the DCIO sales team reporting to Brendan McCarthy, DCIO National Sales Director, and is based in Portland, Oregon. Koleno is responsible for DCIO sales in the Northwest. Previously, Koleno was vice president for DCIO sales covering the Pacific Northwest for American Century Investments.
- James Polito joined the DCIO sales team, also reporting to McCarthy, and is based in Charlotte, North Carolina. Polito is responsible for DCIO sales in the Southeast. Most recently, Polito was vice president and retirement consultant for DCIO sales with BNY Mellon covering the southeastern United States.
- Complementing the new DCIO team hires, Nuveen hired Jeff Eng as managing director responsible for retirement solutions reporting to Martin Kremenstein, senior managing director and head of Nuveen’s retirement and ETF solutions business. In this role, Eng supports the firm’s retirement businesses by leading new product initiatives. Eng joins the firm from AB, where he was head of their custom defined contribution solutions business.
Nuveen is the fourth largest investment manager of defined contribution assets in the United States and the sixth largest manager of target-date fund assets.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.