James S. Gandolfo, the senior director and vice president in charge of the health savings accounts business at PFPC, a unit of PNC Financial Services Group, has been elected chairman of the American Bankers Association HSA Council.
Gandolfo has been a member of the council of banks, insurers and technology companies since it was formed in 2005.
Health savings accounts, which are available to individuals enrolled in high-deductible health plans, let consumers build savings for future expenses by making tax-deductible contributions that earn tax-free interest. Withdrawals from the account are tax free when used to cover qualified medical expenses.
AXA Advisors Appoints
McMahon as Chairman
Andrew McMahon has been promoted from chief operating officer of AXA Advisors to chairman. He succeeds Robert S. Jones, who retired from the company after a 41-year career.
McMahon joined AXA Equitable in 2000 as senior vice president, in charge of launching the strategic initiatives group, which planned ways to increase revenue growth in the retail and wholesale channels. Before that, he was a principal with McKinsey. Earlier, he held a series of management positions in several divisions of General Electric.
Appoints Kapoor President
Morningstar has named Kunal Kapoor president of subsidiary Morningstar Investment Services. He most recently was director of business strategy for Morningstar's international operations and replaces Art Lutschaunig, who is leaving the company.
"Kunal is an outstanding leader who brings a unique set of skills to our investment services unit," said Joe Mansueto, chairman and CEO of Morningstar. "He started his career at Morningstar as a data analyst, then became a mutual fund analyst, and was later named director of our fund analyst team. He also served as a senior research analyst for Morningstar Investment Services. In the last year, he played a significant role in our acquisitions of Aspect Huntley in Australia and Standard & Poor's mutual fund business.
"I'd like to thank Art for his efforts during the past four years as head of MIS and wish him the best in his new endeavor," Mansueto added.
Lincoln National Names
Glass Chief Executive
Dennis R. Glass has been promoted from president and chief operating officer of Lincoln National Group to chief executive officer.
Lincoln also named longtime director Patrick Barrett as chairman. Barrett and Glass replace Jon A. Boscia, who is stepping down as chairman and CEO.
Galvin Joins Clearbrook
John Galvin has joined Clearbrook Advisors as president. With more than 20 years of experience in the financial services industry, he most recently was in charge of all fee-based business at UBS Wealth Management. He also led Lincoln Financial's independent adviser channel and the reengineering of the firm's investment platforms.
Galvin spent the majority of his career at Merrill Lynch, where he was a driving force behind installing a fee-based culture while building the firm's Consults management accounts program.
"This was a once-in-a-lifetime opportunity," Galvin said. "I was attracted to Clearbrook because of its entrepreneurial nature."
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