Prudential Financial has named David A. Hunt chief executive officer of Prudential Investment Management, in charge of all of its asset management businesses-including public fixed income, real estate, public equity, private fixed income, mutual fund and wealth management business. Hunt will start his position Nov. 9.
He was previously a senior partner and co-leader of the North American asset management practice at McKinsey & Co.
"David's breadth of institutional and wealth management experience in the U.S. and internationally makes him a perfect fit to lead our asset management businesses," said Charles Lowrey, chief operating officer of Prudential's U.S. businesses. "His keen understanding of retirement trends, product innovation and the future of distribution and advice delivery will strengthen our current client relationships and help us build new ones."
Lowrey previously held the position Hunt will assume, as Lowrey was promoted to lead the U.S. businesses in February. In the nine months since then, he has continued to oversee Prudential Investment Management in the interim.
Nationwide Financial Adds
Eight to Wholesaling Team
Nationwide Financial has hired eight new wholesalers to support financial advises in the annuities and retirement plan businesses.
"Nationwide uses a 'team of specialists' approach to helping advisers help their clients prepare for and live in retirement," said John Carter, president of Nationwide Financial Distributors. "These newest members bring experience in annuities, life insurance, retirement plans and mutual funds, and allow us to help advisers meet the diverse needs of their clients."
The new hires are:
Vince Centineo, regional vice president for the Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania and Washington, D.C. territory. Centineo was previously an external wholesaler at Halcyon Capital Markets.
Sean Milligan, regional vice president for the North and central Chicago territory. He was previously managing director of institutional sales at MassMutual.
Troy V. Simmons, regional income planning specialist for the West territory, which includes Washington, Oregon, California, Nevada, Arizona, Hawaii, Utah, Montana, Wyoming, Colorado, New Mexico, Texas, Kansas, Oklahoma, Montana, Arkansas and Louisiana. Simmons was previously a regional vice president at American General.
Eric Bokesch, who will serve as a field service representative for the Cincinnati, Indiana and Kentucky territory, representing pension sales in the private sector. He joins Nationwide from a direct-write third-party administrator, where he was an enrollment advisor.
Aubrey Burningham, who will serve as a field service representative for the Washington and Oregon territory, representing the group retirement plans sales team. She was previously an operations executive at Paulson Investment.
Geovanny Alfaro, pension field service representative for the New York and Westchester County territory, representing the retirement plans sales team. He was previously with Mutual of America as a 401(k) retirement plan consultant.
Gonzalo Villamil, field service representative for the Southern California territory, representing the retirement plans sales team. Villamil joins Nationwide from AIG VALIC Financial Advisors, where he was a mutual fund and 401(k) retirement plan wholesaler.
Josh Cesare, pension field representative for the Eastern Pennsylvania, Westchester, New York and New Jersey territory, representing the retirement plans sales team. Previously, Cesare was a registered representative/investment adviser at MetLife Securities.
ICI Selects Franklin CEO
Johnson as New Chairman
The Investment Company Institute has named Gregory Johnson, president and chief executive officer of Franklin Resources,as chairman for a one-year term. As chairman, Johnson will oversee ICI's board of governors, which sets policies and oversees the institute.
"Greg Johnson is recognized and respected throughout our industry," said ICI President and CEO Paul Stevens. "He is superbly suited to the role of the Institute's chairman. I am truly delighted at his election and look forward to working closely with him and with our outstanding board of governors."
Johnson became co-CEO of Franklin in 2004 and president and CEO in 2005. He is also chairman of the board of Franklin Templeton Distributors, president of Franklin Investment Advisory and vice president of Franklin Advisers. He joined the firm in 1986 after working as a senior accountant at Coopers & Lybrand.
In addition, the ICI named three new members of the board for terms that will expire on Sept. 30, 2014. They are: James Boyle, president of John Hancock Financial Services, Catherine L. Newell, general counsel of Dimensional Fund Advisors, and Mary Ann Tynan, independent director of Oppenheimer Funds.
Former Citi Director
Launches LVW Advisors
Lori Van Dusen stepped away from the brokerage environment three years ago when she left CitiGroup Smith Barney to join the institutional group at Convergent Wealth Advisors. Now, thanks to backing from New York-based Focus Financial Partners, Van Dusen has launched LVW Advisors and is completely independent. The RIA firm will focus on high-net-worth individuals and family offices, and custom investment management solutions for institutional investors.MME