Effective Sept. 30,Michael Kiley will become chief executive officer of Security Benefit Corp. He replaces Howard Fricke, who has been serving as interim president and CEO since February 2010 and was previously president and CEO of the firm from 1988 to 2000 and chairman from 1996 to 2006.
A 25-year-veteran of the insurance, mutual fund and retirement savings industries, Kiley is currently a senior managing director for parent company Guggenheim Partners and a member of the board of directors at Security Benefit. Kiley originally joined Guggenheim as a mergers and acquisitions consultant on the Security Benefit deal, completed in August 2010.
Commenting on Kiley's promotion, Security Benefit Chairman Todd Boehly said: "For the past 18 months, Mike has played a vital and visible role in the operations and growth of Security Benefit, leading the launch of new products, building strong business partnerships and recruiting new members to the leadership team. Mike gets results and brings an impressive pedigree to Security Benefit. When coupled with his enthusiasm and expertise, we are confident that Security Benefit will continue to generate profitable growth and continue its leadership position in the retirement services marketplace."
Before joining Guggenheim, Kiley has president and chief executive officer of Van Kampen Investments, a unit of Morgan Stanley. Kiley was also president and CEO of Morgan Stanley Funds Distributors, head of Morgan Stanley's U.S. intermediary group and a principal in the institutional asset management group.
Immediately before that, Kiley was president of the Travelers Portfolio Group, a division of Citigroup. He has also held executive positions at AXA and Guardian Life.
Commenting on his new role, Kiley said: "For more than a year, I've had the pleasure of working with Howard and his leadership team as we've put the company on track for continued success. This is an exciting time for Security Benefit and I'm excited about the opportunity to lead the organization forward."
Two Sales Directors Join MassMutual Retirement
Two sales directors who will focus on retirement plans with less than $5 million in assets under management have joined MassMutual Retirement Services: Garrett Carlough, who will cover the greater New York region, and Andrew Hanlon, who will cover eastern Massachusetts, Rhode Island, New Hampshire and Maine.
Carlough comes to the firm from Principal Financial Group, and Hanlon hails from MassMutual's distribution support organization. Earlier, Hanlon was with Putnam Investments for 10 years, working in operations, implementation and sales.
"Our retirement services business is experiencing exceptional growth," said Hugh O'Toole, senior vice president of sales and client management. "The addition of these two individuals to our already robust team is evidence of MassMutual's serious commitment to serving advisers and third-party administrators with a strong focus on retirement plans with under $5 million in assets."
Carlough and Hanlon report to Jonathan Shuman, national sales leader of MassMutual's retirement services division.
Boston Financial Taps McNeil for Key Sales Post
Boston Financial Data Services has brought Michael McNeill on board to introduce its Financial Intermediary Administration solution for mutual fund companies that sell their products through broker-dealers.
"With the rise of sub-accounting, financial intermediaries are increasingly performing many of the roles previously performed by the transfer agent," said Terry Metzger, president of Boston Financial. "In this new environment, fund management companies face ne challenges and burdens. Mike has deep experience in working with distribution partners, and we are pleased to have him on board as we prepare to bring new solutions to market."
McNeill comes to Boston Financial from Putnam Investments, where he was responsible for all aspects of home office relationships with all sales channels: large wirehouses, banks, registered investment advisors, trusts and broker-dealers. McNeill has served on various industry committees, including the Investment Company Institute's Broker Dealer Advisory Committee, and the Bank, Trust and Recordkeeper Committee.
Before joining Putnam, McNeill held key positions at Pioneer Investments and American Express Shareholder Services.
Commenting on his new position, McNeill said: "Boston Financial is in a strong position to build upon its transfer agency expertise and develop a suite of products to support the transition and growth of the intermediary marketplace. These solutions will support a more robust and transparent environment for fund companies and their intermediary partners, and I'm excited about the opportunity to help drive this initiative."
Moy Takes Reins at Rockefeller Private Equity
Rockefeller Financial has named Jeffery Moy as its new head of private equity, where he'll oversee the wealth management firm's private equity and venture capital endeavors.
Moy previously served as a senior managing director at Liberty Mutual Investment Advisors, where he was responsible for leading a strategy to broaden the firm's alternative markets portfolio.