This week in personnel announcements and new hires, Joachim Fels joined PIMCO; Scott Pearson joined Ballard Spahr; Muriel Knapp was named national business leader for Mercer’s defined contribution advisors specialty practice; Pensionmark added a new affiliated office; Allegiancy welcomed David Starowicz; and Jack Foster joined Commonfund.
Also, the Securities Industry and Financial Markets Association welcomed Jennifer Flitton; Joshua Shapiro joined Groom; the Alternative & Direct Investment Securities Association named Peter Magnuson to its board of directors; Aaron Zises joined the Private Client Reserve; and NSBN announced three promotions.
PIMCO Welcomes Fels, Adds CIO
PIMCO has announced that Joachim Fels has joined as managing director and global economic advisor. He will be based in Newport Beach, California, reporting to Daniel Ivascyn, group chief investment officer. The firm also announced four additional hires.
Fels was a managing director and chief economist at Morgan Stanley, based in London. During his 19 years there, he also held positions including chief international economist, chief global fixed income economist and co-head of European economics. From 1992 to 1996, Fels worked for Goldman Sachs as an executive director and international economist. Prior to this, he was a research associate at Kiel Institute for the World Economy in Kiel, Germany, for five years.
Marc Seidner, managing director and portfolio manager, rejoined the firm as chief investment officer, nontraditional strategies. Nobel laureate economist Professor Michael Spence, a faculty member of the New York University Stern School of Business, is a consultant to the firm on macroeconomic and global policy issues. Gene Sperling, a former principal economic advisor to Presidents Clinton and Obama, is a consultant on U.S. economic policy issues. And Geraldine Sundstrom, a managing director and portfolio manager in the asset allocation business, joins this week.
New York Life to Hire 3,600 Reps in 2015
New York Life announced that the company hired 3,680 full-time agents in 2014, and in 2015 intends to hire an additional 3,600 financial professionals.
More than half are expected to be women or “individuals who represent cultural communities,” the company said in a statement.
New York Life says it has grown its active agent force by 24% since 2007.
Ballard Spahr Welcomes Pearson
Ballard Spahr has announced that Scott Pearson has joined its consumer financial services group as a partner in Los Angeles.
With 20 years of experience in consumer financial services litigation, Pearson was previously a partner at Seyfarth Shaw LLP in Los Angeles, where he was co-chair of its consumer financial services litigation group. Before that, he was a partner in the financial services/class action group at Stroock & Stroock & Lavan LLP, also in Los Angeles.
Mercer Advances Knapp
Mercer has announced that it has named Muriel Knapp national business leader for its defined contribution advisors specialty practice. She succeeds Charlie Ledbetter, who will retire in September, and reports to Bill Howard, principal.
With more than 20 years of experience in employee benefits and consulting, Knapp was most recently market leader for defined contribution advisors in the south and midwest markets. Prior to joining, she spent 13 years with Great-West Retirement Services, where she held various leadership positions, including regional vice president. Pensionmark Adds New Affiliated Office
Pensionmark Retirement Group has added Wellspring Advisor Group LLC, as an affiliate in Louisiana. Wellspring is headed by financial advisor John Carroll.
Carroll has nearly 30 years of experience in the retirement plan and financial industry. His new company, Wellspring, primarily serves clients in Louisiana and Mississippi.
Allegiancy Adds Starowicz
Commercial real estate asset manager Allegiancy has announced that it has hired David Starowicz as chief operating officer.