New Faces and Opportunities Crop Up at DC Distributors
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, March 5, 2010

New Faces and Opportunities Crop Up at DC Distributors

Fundsters interested in DC I-O opportunities may want to keep an eye on Lincoln Financial. In January the insurer closed on the sale of its captive asset manager (and mutual fund firm), Delaware Investments. And Eric Levy, the former chief of Mercer's DC business, jumped over to Lincoln this year to lead defined contribution products. Levy's mid-large market open architecture background, combined with Lincoln's fresh independence from asset management, could mean new opportunities for outside managers interested in working with the insurer's DC business. (See The 401kWire, 2/3/2010 and The MFWire, 1/4/2010.)

Fidelity's bundled 401(k) business saw another high-level executive swap take place this year. After taking the client management reins at workplace investing from Scott David in November, Mike Wilens moved over to lead corporate operations. Jim MacDonald, head of workplace investing services, stepped into the shoes Wilens inherited from David, while Steve Ulian took over the newly-formed sales and relationship support at the giant bundled 401(k) provider. (See The 401kWire, 11/24/2009 and 2/10/2010.)

And fundsters whose firms offer target date funds may want to keep an eye on another Fidelity business. In December a Fidelity spokeswoman confirmed that the Boston Behemoth, a target date fund titan whose target date funds are a core part of all of their retirement plan offerings, is considering offering other fund firms' target date funds on its advisor-sold 401(k) platform. Then in February John Hancock reportedly received a contract to be able to offer its target date funds on the Fidelity advisor 401(k) platform, though a Fidelity spokesman assured The 401kWire that the provider is "still evaluating whether to make third-party target-date funds part of the platform." (See The 401kWire, 12/23/2009 and 3/1/2010.)

Printed from:

Copyright 2010, InvestmentWires, Inc.
All Rights Reserved
Back to Top