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Executive Moves

Lyday Heads Retirement Solutions Unit at Lincoln


Jim Lyday has joined Lincoln Financial Distributors as head of institutional retirement solutions distribution, reporting to President and Chief Executive Officer Will Fuller. In this role, Lyday is responsible for distribution of Lincoln's defined contribution business among mid-to-large employers.

"We are committed to building on our reputation and leadership in providing retirement solutions for Americans, and see a significant growth opportunity for Lincoln in the full-service retirement plan market by putting participants on the optimal path to retirement security," Fuller said. "Jim's deep experience in institutional retirement plan services, his strong industry reputation and his track record for growing businesses will help us execute our growth strategies while delivering an exceptional plan sponsor and plan participant experience."

Lyday comes to Lincoln Financial from Prudential Financial and The Principal Financial Group, where he held a number of senior management positions in their defined contribution businesses.

"There is a tremendous opportunity to help participants achieve better outcomes both in the accumulation phase and into retirement," Lyday said. "Lincoln is strategically positioned to capitalize on this opportunity with its industry-leading distribution platform and portfolio of services and solutions. I'm confidence that leveraging these strengths will expand Lincoln's already-strong distribution partnerships and delivery market-leading solutions to the mid and large retirement plan market."

 

Donohue Voted to Board Of Fund Directors Forum

The Mutual Fund Directors Forum, the organization for independent directors of mutual funds, has elected Andrew J. "Buddy" Donohue to its board of directors.

Donohue, who is now a partner at Morgan Lewis & Bockius, was the director of the division of investment management at the Securities and Exchange Commission from 2006 to 2010. Before his work at the SEC, he was a counsel at several large fund groups.

"Available, receptive and unflappable as the director of the division of investment management, Buddy consistently took the time to really understand the concerns of fund directors," said Jameson Baxter, chairman of the Forum's board of directors. "His efforts gave him numerous opportunities to meet with a number of fund boards and learn firsthand the concerns of the director community. We're very pleased that he will bring to the Forum his genuine commitment to promoting well-functioning boards."

 

Citi Private Bank Hires Morgan Executive Adams

Christopher Adams returns to Citi in a new position as managing director of investment finance in the firm's New York office.

Citi Private Bank has hired Morgan Stanley Private Bank executive Adams as managing director of investment finance in its New York office.

Adams joins Citi after serving as executive director for a tailored lending group at Morgan Stanley Private Bank since 2009. Before that, he was employed with Citi for about 20 years, most recently leading a tailored lending team for the Northeast division of Smith Barney Private Client Group from 2001 through 2009.

Adams will report to Michael Frawley, head of investment finance for the Eastern region.

 

AMG Taps Copeland to Lead New Wealth Unit

Affiliated Managers Group has appointed John W. Copeland III as president of AMG Wealth Partners, a newly formed subsidiary of AMG focusing on investments in boutique wealth management firms.

Copeland, a 23-year veteran of the wealth management industry, will be based in West Palm Beach, Fla., and report to AMG Chairman and CEO Sean M. Healey.

Copeland joins AMG Wealth Partners from Morgan Stanley, where he was a senior partner for one of the firm's largest private wealth management teams. Before that, Copeland was a managing director at Lehman Brothers' private investment management division. He also worked as a managing director for e-commerce and wealth management at Credit Suisse First Boston, where he oversaw the development of a state-of-the-art platform for the wealth advisory business.

Copeland began his career in the private client services group of Goldman Sachs in 1988, where he held successive positions over a 12-year career. In his final role as managing director, he was a senior member of the management team for the private client business, a division of 450 advisers with $230 billion in assets under management.

 

Curian Capital to Expand Sales Staff, Territories

Wealth management firm Curian Capital plans to add eight new territories and 16 sales professionals to serve clients in New England, Oregon, Idaho, East Texas, New Jersey, the Middle Atlantic and the northern plains states.

"This is aimed at penetration," said Greg Verfaillie, Curian Capital's national sales manager. He noted that at present, many of the company's separately managed account wholesales "drive right past" many "wonderful independent advisers' offices," en route to major producers. "Now we can hit those offices," he said. Curian Capital's sales personnel currently handle 55,000 independent advisers, but Verfaille says that the optimal territory should have "no more than 1,200 advisers." With only 34 wholesalers currently on staff, each has been averaging 1,600 advisers. The new hires should bring the numbers down to the optimal target.

The expansion will include an external regional business consultant and an internal regional business consultant for each territory.