Prudential Retirement, a business unit of Prudential Financial (Prudential) added 12 new institutional sub-advised funds to its Manager-of-Managers platform.
The expansion, designed to increase the range and therefore the competitiveness of their Manager-of–Managers platform, includes a new, nontraditional asset class: Real estate.
The platform avails retirement plan sponsors seeking fiduciary support to a suite of investment funds sub-advised by respected, institutional-quality asset management firms. Prudential, in turn, selects and monitors the sub-advisors active on the platform.
The program, which is exclusively available to plans working with Prudential as recordkeeper now has a total of 78 sub-advised funds on the platform.
The new funds are:
- Large Cap Value/Becker Capital Fund (Becker Capital)
- Large Cap Value/ Ceredex Value Advisors Fund (Ceredex Value Advisors)
- Large Cap Value/ Nuveen Asset Management Fund (Nuveen Asset Management, LLC)
- Large Cap Growth/ Brown Fund (Brown Advisory)
- Large Cap Growth/ Fayez Sarofim Fund (Fayez Sarofim & Co.)
- Mid-Cap Value/ Invesco Fund (Invesco Advisers, Inc.)
- Mid-Cap Value/ WEDGE Fund (WEDGE Capital Management LLP)
- Mid-Cap Growth/ American Century Fund (American Century Investment Management, Inc.)
- Small Cap Growth/ Palisade Capital Management Fund (Palisade Capital Management, LLC)
- Real Estate/American Century Fund (American Century Investment Management, Inc.)
- Real Estate/Cohen & Steers (Cohen & Steers)
- International Blend/ Neuberger Bergman Fund (Neuberger Berman)
In personnel news:
New York Life Insurance Company (New York Life) announced that Pooja Rahman has joined the company as vice president, International Regulatory Affairs.
Rahman will bring the expertise culled from her previous role as manager and counsel, international policy and analysis for National Association of Insurance Commissioners (NAIC) to her new position.
She will be responsible for developing and implementing policy positions that influence both domestic and international policymakers’ decisions on myriad issues related to international solvency and accounting standards for insurers as well as on insurance supervision.
Before her tenure at the NAIC, Rahman served as director, senior corporate counsel for Aviva plc, and in-house counsel for the Iowa Insurance Division. She also worked at Principal Financial Group as a technical analyst.
Lincoln Financial Group announced that Ronald Holinsky has joined the company. Holinksy will serve as vice president and chief compliance officer.
He will be responsible for overseeing a company-wide compliance program and ensuring alignment across business unit compliance functions. Holinsky most recently served as vice president & deputy general counsel, as well as chief legal officer Janney Montgomery Scott LLC.
Holinsky will report to James DelBello, senior vice president, Business Law and Compliance for Lincoln Financial Group, as well as Adam Ciongoli, executive vice president and general counsel.
Allianz Life Insurance Company (Allianz Life) has promoted Dave Thom to assistant vice president of Operating Strategy in the Operations division.
Thom will be responsible for expense management and workforce planning, as well as business technology for the Operations division. Additionally, he will be responsible for developing Web-based services for customers and financial professionals alike.
Thom has been with Allianz Life for 15 years and has held various roles in operations.