In this edition of People Moves:
- Towers Watson Expands with New Office, Three Hires
- Towers Watson Appoints Kate Hollis to Credit Research Team
- Loomis Sayles Leadership in Transition
- LPL Financial Appoints Two Strategists to Research Team
- Vanguard Expands Senior Leadership Team
Towers Watson Expands with New Office, Three Hires
Towers Watson has opened a new branch of its professional services company in Pittsburgh, and the firm has brought on Michael Patalsky, Jim Neill, and Michael Dudkowski to head the new office, according to a March 5 press release. Mr. Patalsky, Mr. Neill, and Mr. Dudkowski all join Towers Watson from Wilshire Associates, where they each worked as managing directors of the firm’s investment consulting division.
Prior to joining Wilshire Associates, Mr. Patalsky worked at Hewitt Associates and in the Benefits, Investment, and Financing Group at PPG Industries. At Towers Watson, Mr. Patalsky will serve as a senior investment consultant, and he’ll work with both traditional consulting and the company’s Outsourced Chief Investment Officer (OCIO) services division.
Mr. Neill has 20 years investment experience and will also be working in both the traditional consulting OCIO divisions for Towers Watson. Prior to working with Wilshire, Mr. Neill was an equity trader and portfolio manager at Mellon Bank.
In addition to his time at Wilshire Investments, Mr. Dudkowski has also worked as a director for research and fixed-income marketing at Federated Investors, and as a principal in the Portfolio Strategies Research Group at First Union Corporation (now Wells Fargo). Like Mr. Patalsky and Mr.Neill, Mr. Dudkowski will be working with traditional consulting and OCIO clients and prospects at Towers Watson.
Towers Watson Appoints Kate Hollis to Credit Research Team
Industry veteran Kate Hollis has joined Towers Watson as a part of the firm’s credit research team, according to a March 3 press release. Ms. Hollis has more than 30 years of experience in the industry, most recently as Global Head of Fixed Income/Alternatives Fund Research at S&P Capital IQ. She has also worked in both London and New York, at Daiwa Securities, Deutsche Bank, Scotia McLeod, and Schroders. Ms. Hollis brings a mathematician’s eye to research, having earned her MA in Mathematics from Oxford University.
Towers Watson’s global head of credit Chris Redmond praises Ms. Hollis saying, “We are delighted that Kate has joined us as she brings with her a wealth of asset management experience, especially in fixed income alternatives research.” According to Redmond, the company intends for Ms. Hollis to use her experience to “drive smart beta innovation among bond managers.”
Towers Watson has one of the industry’s biggest research teams with over 130 associates providing fund analysis, selection and monitoring services, and manager research.
Loomis Sayles Leadership in Transition
Robert J. Blanding, Chairman and CEO of Loomis Sayles, announced that he will be transferring his CEO duties to Kevin Charleston, effective May 1. Mr. Blanding will remain Chairman of the Board and will retain an active role in the strategic direction of the company, but he felt it was “the right time to transfer [his] day-to-day responsibilities as CEO,” according to a March 6 press release. Blanding has been a part of Loomis Sayles since 1977, and has been Chairman and CEO since 1995. During his tenure, assets under management increased from $38 billion to $240 billion.
Dan Fuss, Portfolio Manager and Vice Chairman, called it a “privilege” to have had Blanding as CEO, and indicates his complete confidence in Kevin Charleston; as well as Jae Park, the Chief Investment Officer, to keep the company on the right path. “Having partnered with Kevin, Jae and each individual on our management committee for over a decade (and some for many more), I have every confidence in our ability to work collaboratively for the future growth and success of Loomis Sayles,” said Mr. Fuss.
Mr. Charleston has been with Loomis Sayles since 2000 as their CFO, and has served as President since April 2014. “I am honored to assume my new role. Bob Blanding has set an outstanding example for me,” said Mr. Charleston. “Our definition of success remains the same – the achievement of consistently strong investment results for our clients.”
LPL Financial Appoints Two Strategists to Research Team
LPL Financial announced in a March 9 press release that it has added two executives to its research team. Tim Knepp will serve as executive vice president, chief wealth officer, and chief investment strategist; and Matthew Peterson will be a senior vice president and chief wealth strategist. Both will support LPL Financial’s high-net-worth businesses, providing investment research, technology, and practice-management consulting services.
Mr. Knepp has over 25 years of investment management experience, and comes to LPL from Savos Investments, where he served as senior vice president and chief investment officer. Mr. Knepp’s investment perspectives and research have been quoted in multiple national media outlets.
Mr. Peterson is actually returning to LPL in a familiar role: He was a founder of Lydian Wealth Management, a high-net-worth advisory firm that was a predecessor to Fortigent, which was acquired by LPL in 2012. Mr. Peterson had been a partner and chief investment officer there, before moving to GM Advisory Group, where he was director of strategy and research.
Burt White, managing director and CIO of LPL, said of the appointment, “We are excited to welcome Tim – and welcome Matthew back – to the firm to complete our senior leadership team; each will play a significant role in providing thought leadership and insights tailored to the high-net-worth marketplace.”
Vanguard Expands Senior Leadership Team
Thomas M. Rampulla, Managing Director of Vanguard Europe, and Karin A. Risi, Principal of Vanguard Advice Services group, have both been appointed to new roles on Vanguard’s senior leadership team, according to a March 10 press release. Mr. Rampulla, who has been with Vanguard since 1988, will direct Vanguard’s Financial Advisor Services division, providing services, research, investments, and education to more than 1,000 financial advisory firms. Ms. Risi will be heading Vanguard’s Retail Investor Group, which provides financial planning, wealth management, and brokerage services for Vanguard’s client-base of more than 6 million investors.