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Executive Moves

Aviva Taps Ranges, Jacobs For Development, CIO

Aviva Investors N.A. has named Robert Ranges, Jr. head of business development and Doren Jacobs chief information office.

"Doren and Rob will provide important contributions as we continue to deliver superior investment solutions and the highest quality client service," said Greg Boal, Aviva chief executive officer. "I am very pleased to welcome individuals with such expertise and experience to the Aviva Investors team."

Ranges has more than 20 years of experience in asset management and insurance, including working as a managing director at Credit Suisse, where he was responsible for $20 billion in assets under management and oversaw institutional sales, consultant relationships and client relationships. Ranges has also held leadership positions at Wilshire Associates, Neuberger Berman and Metropolitan Life Insurance.

Jacobs has more than 25 years of experience and joined Aviva from Bear Stearns, where he was managing director and chief operating officer, investment banking technology. He has also held domestic and international leadership roles with T. Rowe Price, Fiserv, Perot Systems/Clearstream and Citibank.

Carucci Accepts Manager Position With MassMutual

Tony Carucci has joined the service team at MassMutual Retirement Services Division as a relationship manager for the Midwest region. In this position, he works with advisers to review 401(k) and 403(k) plans, investments and education.

"Tony Carucci is a 25-year veteran in the retirement services industry with deep experience in all aspects of retirement plan administration, including implementation, ongoing service, project management and project development," said Michael McKenzie, vice president and head of retirement services at MassMutual. "He is an outstanding addition to MassMutual's TPA service team."

Al Frank Announces Key Executive Appointments

Al Frank Asset Management, a value-oriented boutique with $377 million in assets under management, has hired Scott Silverman as senior vice president of business development.

"We are pleased to welcome Scott to the team at Al Frank," said Jeff Montgomery, chief executive officer. "Scott brings a wealth of experience, having held senior sales leadership positions with prominent asset management and mutual fund organizations. We are confident he will build on Al Frank's 32-year legacy of trust and conservative multi-cap value management."

Silverman's appointment is one of a series of key executive additions over the past year, including the hiring of Jeff Montgomery as chief executive officer last May from National Financial Partners. Paul Osterberg, previously a senior vice president at NFP Securities, also recently joined Al Frank, as chief operating officer and chief marketing officer.

Silverman was previously with William Blair as regional director in charge of Western states.

Commenting on his new position, Silverman said: "Al Frank has a longstanding reputation for providing dependable service and value to its clients. I am excited to join an organization that is so highly regarded in our industry, and to further the growth and innovation that has been so instrumental to Al Frank's success and, most importantly, to the success of our clients."

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