February 16, 2009
John Hancock Expands 401(k) Sales Team by 18
John Hancock Retirement Plan Services has expanded its sales team by 18, hiring eight regional vice presidents and 10 professionals to man its new internal sales desk. This is a 15% increase in John Hancock's team supporting advisers selling 401(k)s.
"With two new distribution agreements, increased focus on 401(k) plans in the current economic climate and some exciting new innovations such as our Guaranteed Income for Life feature, we felt it was a critical time to add staff to support our partners," said Art Creel, executive vice president, sales and marketing, John Hancock Retirement Plan Services. "With more support, we can better respond to the needs of financial advisers and third-party administrators."
In addition, John Hancock plans to add another five associates to the Boston internal sales desk by the end of the year as well as an unspecified number to other sales desks in Chicago and Atlanta.
New York Life Unit Adds Participant Strategist
New York Life Retirement Plan Services, a division of New York Life Investments, has hired Deanna Garen as managing director of participant strategy. In this newly created role, Garen is to run New York Life's participant communications group, the rollover strategy team and the participant service center. She will report to Don Salama, senior managing director.
Garen was an independent consultant as Garen Consulting LLC. Before that, she was a senior vice president of strategic planning and development at the retirement unit of Prudential Financial.
UMB Scout Funds Fills Two New National Posts
UMB Scout Funds, the fund unit of UMB Financial, has promoted Tony DeMarino to the newly created post of national sales director and Lance Peterson to the newly created post of director of national accounts.
DeMarino has worked for UMB Scout Funds since 2004. Before his promotion, he was eastern division sales director. In his new role, he is to manage external and internal sales representatives and oversee the company's registered investment advisor sales effort nationwide.
Peterson, who also has worked for UMB Scout Funds since 2004, was most recently the western division sales director. He is now responsible for placing UMB Scout Funds on various institutional custodial platforms.
The UMB fund unit also moved two internal wholesalers, Dana Cunningham and Matt Gunter, into hybrid roles, with coverage extending into the upper and lower Midwest.
Spring Consulting Hires Keshner as Chief Actuary
Spring Consulting Group, which sells consulting services to insurance, financial services and healthcare organizations, has hired Steven Keshner as a chief actuary.
Keshner, who has more than 25 years of actuarial, financial, underwriting and strategic insurance experience, was a senior vice president, chief financial officer and chief actuary at Nippon Life Benefits, a subsidiary of Nippon Life Insurance Co.
At Nippon, he directed and developed the actuarial and underwriting functions including pricing, product development and valuation.
Eginton Joins Van Kampen As MD, Marketing Chief
Van Kampen has hired Elizabeth Hughes Eginton as managing director, head of product and marketing, a new position.
Previously, she was senior vice president and director of corporate strategy at Legg Mason Capital Management and a principal with McKinsey.
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