This week in new hires, Michael Kiley was named to become CEO of Security Benefit Corp.; Scott Samlin went to SNR Denton; Edelman Financial Services recruited Joe Bottazzi from outside the industry and Reliance Trust named Robert F. Cook to head its church and nonprofit division.
Also, MassMutual Retirement welcomed Garrett Carlough and Andrew Hanlon, and Donald Fuerst was named senior pension fellow by the American Academy of Actuaries.
Michael Kiley Named Security Benefit CEO
Security Benefit Corp., a Guggenheim Partners Company, announced Wednesday that Michael Kiley will become CEO effective Sept. 30. He succeeds Howard Fricke, who has been serving as interim president and CEO since February 2010 and previously served as president and CEO from 1988 to 2000 and chairman from 1996 to 2006.
Kiley, who will retain his current board of directors slot at Security Benefit, originally joined Guggenheim in a consulting capacity to advise management on Security Benefit’s acquisition, completed on August 2, 2010. He currently serves as a senior managing director for Guggenheim Partners.
Prior to joining Guggenheim Partners, Kiley served as president and CEO of Van Kampen Investments, a division of Morgan Stanley. During his tenure at Morgan Stanley he also served as president and CEO of Morgan Stanley Funds Distributors, head of the U.S. Intermediary Group and as a principal in the institutional asset management group. Prior to that he was president of the Travelers Portfolio Group, a division of Citigroup. He also held executive positions at AXA and Guardian Life.
Scott Samlin Joins SNR Denton
SNR Denton announced Monday that Scott D. Samlin has joined the firm as a partner in the capital markets practice. He will be based in New York.
Samlin joins from Morgan Stanley, where he was executive director of its residential mortgage and lending compliance business and helped oversee the operations of Morgan’s whole loan trading desk and its affiliated mortgage loan servicer, Saxon. Prior to this, he was executive vice president, general counsel and chief compliance officer for EMC, Bear Stearns’ primary mortgage loan servicer.
Earlier in his career, Samlin held several senior in-house positions at large corporations, including vice president and assistant general counsel at Superior Bank FSB, vice president, senior staff attorney and compliance officer at Carteret Federal Savings Bank and assistant counsel at the New York State Banking Department.
Edelman Recruits Bottazzi as New EVP of Business Development
Edelman Financial Services LLC announced Tuesday that it has named Joe Bottazzi as executive vice president, business development. He will be responsible for directing the company’s planned new business lines, all designed to enhance the firm’s ability to serve its current clients and expand nationwide.
Chairman and CEO Ric Edelman noted that it is highly unusual for a financial services firm to recruit a senior executive from outside the industry, and said in a statement, “Financial firms tend to recruit managers from each other, almost incestuously. As a result, everyone gets the same old, myopic results, with too little new thinking.” Bottazzi’s views are expected to offer fresh insights.
For the past 31 years, Bottazzi was an executive with Hewlett-Packard. Before joining Edelman Financial, Bottazzi was the senior vice president of HP’s Americas Technology Services business, responsible for approximately a third of its $127 billion annual revenue, with more than 8,000 employees in his business unit.
Reliance Trust Appoints Robert F. Cook to Head Division
Reliance Trust Company announced Tuesday the appointment of attorney and industry veteran Robert F. Cook as executive vice president and a manager of the church and nonprofit division, one of the largest servicers of church bond offerings in the country.
Cook will work with the division’s team and will be responsible for the direction and strategic development of its activities. He will also work with Reliance Financial Corporation’s senior leadership to advance several of the company’s long-term initiatives and programs. Cook served on the board of directors for 30 years, and has been involved in representing Reliance Trust as legal counsel since its formation in 1975.
Throughout his career he worked to help create denominational loan funds, real estate investment trusts and other lending entities to provide financing for church and nonprofit entities. Prior to joining Reliance Trust, Cook was one of the founding partners of Parker, Johnson, Cook & Dunlevie, Atlanta, Georgia, which merged with Womble Carlyle Sandridge & Rice, PLLC in June, 1996.
MassMutual Retirement Services Welcomes Carlough, Hanlon
MassMutual announced recently the addition of two new sales directors, Garret Carlough and Andrew Hanlon, to its retirement services sales and client management organization led by Hugh O'Toole. Both Carlough and Hanlon report to Jonathan Shuman, national sales leader, MassMutual's retirement services division.
Carlough joined MassMutual from Principal Financial Group as sales director on May 16. He is based in New York City and is providing additional coverage for New York City, Long Island, Westchester County, Rockland County and northern New Jersey.
Hanlon was appointed sales director effective July 1, and is based in Boston, increasing coverage for the eastern Massachusetts, Rhode Island, New Hampshire and Maine territories. He most recently served as a key account manager in MassMutual's distribution support organization. Prior to joining MassMutual in 2006, Mr. Hanlon spent 10 years with Putnam Investments where he held positions in operations, implementation and sales.
American Academy of Actuaries Names Donald Fuerst Senior Pension Fellow
The American Academy of Actuaries announced Friday that Donald Fuerst will be the professional association’s new senior pension fellow. Fuerst recently retired as a senior partner and consulting actuary with Mercer’s Denver office, where he advised corporate clients for more than 30 years on design, funding and compliance issues related to retirement programs.
The senior pension fellow is a full-time position on the American Academy of Actuaries staff. The post was last held by Frank Todisco, who stepped down in November 2010 to become the chief actuary at the U.S. Government Accountability Office. Fuerst is expected to begin his tenure as senior pension fellow in September. In that role, he will serve as the U.S. actuarial profession’s chief public policy liaison on pension, Social Security and other retirement security issues.
Fuerst has been a member of the American Academy of Actuaries since 1978. He also is a fellow of the Society of Actuaries, a fellow of the Conference of Consulting Actuaries, and an enrolled actuary.