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Hub expands into the Caribbean

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Hub International Limited (Hub) entered into a definitive agreement to acquire Carrión, Laffitte & Casellas, Inc. (CLC), a full service insurance brokerage firm headquartered in San Juan, Puerto Rico.

The acquisition represents the next phase of Hub’s expansion in Latin America with the formation of Hub International Caribbean Holdings. The acquisition is subject to customary closing conditions and is expected to close in October 2012. Terms of the acquisition were not disclosed.

CLC will become a new regional hub doing business as Hub International CLC (Hub CLC). Jose Carrión, one of the founders and the president of CLC, his management team and other CLC employees will join Hub and continue operating out of their existing San Juan office and Hub’s Miami area office.

Carrión will report directly to Neil Morrison, chairman, Hub International Latin America, CEO & president of Hub International Ontario and the former chairman of the Worldwide Broker Network.

With roots dating back to 2001, CLC is the largest independent brokerage firm in Puerto Rico. CLC serves the Puerto Rican market and clients located throughout the Caribbean, Latin America and the continental United States. Its diversified client base covers many industries, with a large concentration in the financial and construction sectors.

In other industry new:

The Aetna Foundation, the philanthropic arm of Aetna, bestowed a $130,000 grant on the New York-based Hispanic Federation. The funds will be used to launch the organization’s pilot program that will engage Brooklyn teenagers in the drive to improve Latino health outcomes and reduce health disparities in the North Brooklyn community of South Williamsburg.

The initiative, called Youth Health Explorers, will train 36 Latino teenagers, aged 14 to 19, in the science of community mapping, on-the-street interviews and data analysis, to determine the environmental factors in their predominately Hispanic neighborhoods that can influence their communities’ high rates of obesity, especially among young people.

The initiative’s goal is to develop a significant pool of useful data to guide neighborhood health policies in South Williamsburg and coach young people to work with community leaders to address environmental factors that contribute to obesity. The teenagers will be trained in leadership, public speaking, and community mobilization skills. Upon completion of their analysis, they will present their findings to local public officials, community groups and civic organizations. When the pilot program is concluded, the Hispanic Federation hopes to expand the project to other communities across the country.

The Hispanic Federation expects the trained high school students to hit the streets during the first months of 2013 to begin their inventory of South Williamsburg’s health assets and risks, such as recreational facilities, parks, community health clinics, hospitals, shops selling fresh fruit and vegetables, tobacco vendors, and fast-food restaurants, among others. Using GPS devices and Google Maps, the young researchers will be able to create high-tech, cartographic representations of their neighborhood’s resources and impediments to good health, including of the number and accessibility of each.

The Hispanic Federation anticipates that the Youth Health Explorers’ final report on the impact of South Williamsburg’s built environment on residents’ obesity rates and health to be completed in May 2013.

Allianz Life Insurance Company of North America (Allianz Life) named Tom Spangler as senior director, Business Unit Controls Office, in the Operations division. In this role, Spangler will oversee the completion of operational changes required by federal and state regulations, internal and external examinations, as well as proactive risk management initiatives. In addition, he will be accountable for sustaining and maturing Operations controls. Spangler reports to Denise Settimi, vice president of Enterprise Operations Control.

Spangler joined Allianz Life in 2010 as a principal controls consultant in the Operations Controls department. Prior to that, he worked for The Hartford Financial Services Group, Inc. for two years as an assistant director in Operations Compliance, where he led a department of business unit compliance professionals. While there, he also held a role as a compliance consultant for four years.

Spangler holds a Bachelor of Arts degree from the University of Minnesota and has his FINRA Series 6, 7, 26, and 63 registrations.

Cigna Global Health Benefits received the International Benefits Provider of the Year award for the second year in a row at the 2012 Expatriate Management and Mobility Awards (EMMAs) in Las Vegas. Considered to be the Oscars of the global mobility profession, Cigna was recognized for overall excellence in the field of expatriate insurance.

The Forum for Expatriate Management (FEM) brings all sides of the global mobility industry together, including international human resource and global mobility professionals, and sponsors the EMMAs at its yearly U.S. Global Mobility Summit. The EMMAs are judged by an independent panel of directors.

Prestige Employee Administrators, Inc. named Monique Merhige as marketing communications manager. Merhige brings more than 15 years of experience in marketing and public relations to the human resources outsourcing firm. She has proven successes in launching integrated marketing campaigns for companies ranging from small service firms and manufacturers to a $1.5 Billion dollar division of Motorola.

In this new role, Merhige will work closely with the executive team to ensure the marketing initiatives carry out the company’s mission of surrounding clients with the highest quality of human resources services.

Merhige most recently served as an adjunct professor of Marketing at Dowling College and CEO of Infusion Direct Marketing, a Long Island-based marketing consulting firm. She also served on the board of the Direct Marketing Association of Long Island and is currently a contributing author to Digital Ethos. She has a bachelor’s in Marketing and an MBA in General Management from Dowling College.

The Financial Planning Association(FPA) is honoring David M. King, CFP, with its 2012 P. Kemp Fain, Jr. Award (posthumous); retirement researcher Wade D. Pfau, Ph.D., CFA with the inaugural Montgomery-Warschauer Award; and 10 influencers in the profession with Heart of Financial Planning Awards.

The awards will be presented at FPA Experience 2012, Sept.29 – Oct.2 in San Antonio, Texas.

As first chair of the International Board of Standards and Practices for Certified Financial Planners, Inc. (now CFP Board), David M. King was a successful advocate for a strong, enforceable code of ethics for CFP professionals. As an early participant and leader in the profession, he was an active supporter of the College for Financial Planning and worked to keep it thriving during its early years; King also chaired its board of regents. He was credited as a key pioneer who showed an unwavering commitment to the financial planning profession during its formative years. The P. Kemp Fain, Jr. Award recognizes an individual who made outstanding contributions to the financial planning profession in the areas of service to society, academia, government and professional activities, and upholds FPA’s Core Values: competence, integrity, relationships and stewardship.

Wade D. Pfau, Ph.D., CFA is the first recipient of the Montgomery-Warschauer Award, given by the editors of the Journal of Financial Planning to honor the paper that provided the most outstanding contribution for the betterment of the Journal’s readership in the preceding year. Pfau has published multiple articles in the Journal, beginning in 2010. During 2011, he contributed three papers to the Journal, including the frequently cited “Safe Savings Rates: A New Approach to Retirement Planning over the Life Cycle,” published in May that year—the paper selected for this award. Historically, researchers have focused on determining safe retirement withdrawal rates. This paper treats accumulation and decumulation as an integrated whole, and focuses on determining what an individual’s savings rate would have to be to safely sustain retirement.

The Heart of Financial Planning Award recognizes individual professionals, financial planning firms, FPA chapters, or organizations who engage in extraordinary work, contributing and giving back to the financial planning community and public through financial planning. Recipients embody the spirit of financial planning and also represent FPA’s Core Values. This year’s awardees are:

  • Jon Beyrer, CFP, EA (FPA of San Diego) – vice president for wealth management at Blankinship & Foster, LLC;
  • Reed Fraasa, CFP, AIF, RLP (FPA of New Jersey) – president of Highland Financial Advisors, LLC;
  • Omega Hartman, CFP (FPA of New Jersey) – founder and principal of Omega Financial Management;
  • Anja Luesink, MBA, CFP, RLP (FPA of New York) –president of Luesink Financial Planning, LLC;
  • Ruth Lytton, Ph.D. (FPA of Central Virginia) – financial planning program at Virginia Tech University;
  • Kathy Muldoon, CFP (FPA of Dallas/Fort Worth) – senior vice president of Carter Financial Management;
  • John R. (Dick) Power, CFP (FPA of Massachusetts) – Army colonel, retired;  
  • Neal J. Solomon, CFP, CLU, ChFC, CASL (FPA of Northeastern New York) – chief financial officer at Hearing Care Resources, LLC;
  • Richard E. Vodra, JD, CFP (FPA of the National Capital Area) – founding member of the Nazrudin Project;
  • David Yeske, Ph.D., CFP (FPA of San Francisco) – managing director at Yeske Buie.


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