Nationwide has officially announced the hire of Michael Spangler to lead its funds group. The MFWire reported Monday that Spangler was taking the helm at Nationwide's fund unit (MFWire, 5/12/2008).
Spangler, 42, replaces John Grady who left Nationwide in January.
Before joining Nationwide, Spangler was the head of Morgan Stanley Investment Management's U.S. retail product group.
Company Press Release
COLUMBUS, Ohio - (Business Wire) Nationwide Financial Services, Inc. (NYSE: NFS) today announced that Michael S. Spangler, 42, has been named as the new leader of Nationwide Funds Group (NFG). NFG is the mutual funds operation for Nationwide Financial. Spangler will be responsible for all aspects of the business, including executing strategic objectives, managing profitability, and overseeing product development and operations.
Mark Thresher, president and chief operating officer of Nationwide Financial, said Spangler’s extensive business management and product development experience as well as his knowledge of mutual funds, annuities and the financial services industry make him a natural fit for the position.
“Mike’s knowledge of the mutual funds industry, combined with his results-driven and collaborative approach, makes him a valuable addition to our leadership team,” Thresher said. “In his new role, Mike will work to expand our mutual funds business by building our capabilities as an integrator and distributor of investment solutions.”
Spangler has spent the last four years at Morgan Stanley Investment Management, where he served as managing director responsible for product management for retail and intermediary distribution. Before joining Morgan Stanley, Spangler held leadership positions with various investment firms, including Touchstone Investments and Evergreen Investments.
He holds a bachelor’s degree from Elizabethtown College and a master’s degree in business administration from Lehigh University.
About Nationwide Funds Group
Nationwide Funds Group is the mutual funds complex of Nationwide Financial Services, Inc. (NYSE: NFS), a leading provider of long-term savings and retirement products. Nationwide Funds Group is based in the Philadelphia area and offers a wide range of sub-advised mutual funds. As of March 31, 2008, Nationwide Funds Group managed approximately $30.0 billion in assets. For more information about Nationwide Funds, please visit www.nationwidefunds.com.
About Nationwide Financial
Nationwide Financial Services, Inc. (NYSE: NFS), a publicly traded company based in Columbus, Ohio, provides a variety of financial services that help consumers invest1 and protect their long-term assets, and offers retirement plans and services through both public- and private-sector employers.
It’s part of the Nationwide group of companies, which offers diversified insurance and financial services. The group is led by Nationwide Mutual Insurance Company, which is ranked No. 108 on the Fortune 500 based on 2007 revenue.2 For more information, visit www.nationwide.com.
Nationwide, Nationwide Financial, the Nationwide Framemark and On Your Side are federally registered service marks of Nationwide Mutual Insurance Company.
Nationwide Funds distributed by Nationwide Fund Distributors LLC, Member FINRA. 1200 River Road, Suite 1000, Conshohocken, Pa. 19428.
1 Nationwide Investment Services Corporation, member FINRA. In MI only: Nationwide Investment Svcs. Corporation.