People Moves: TMF International Pensions, Providence Life, Mercer, Transparency Task Force

TMF International Pensions

TMF Group – a UK-based provider of business services to clients operating and investing globally – has named Philip Rietti, pictured, to its international pensions team, as technical and sales director.

He will be based in the Smart City, Malta headquarters of TMF International Pensions, according to the company.

The position is a new one, and comes as TMF International Pensions prepares to grow its business in the corporate pension scheme and employee benefits market as well as the market for products suitable for high-net-worth-individuals, in response to growing demand, TMF said.

Most recently Rietti had been business development manager at the Dominion Group, a Malta-based company benefits and pensions provider. Before that he spent more than six years with Blevins Franks, the advisory group formerly based in Malta, where he was head of pensions. Blevins Franks now has its head offices in London but still bases its administrative, trusts and pensions businesses in Malta.

Rietti’s more than 35 years of experience in the personal and corporate financial planning sector has seen him working extensively in the area of pensions and pension transfers, including QROPS and QNUPS, TMF noted.

The TMF Group was founded in the Netherlands in 1988, expanding rapidly around the world. In 2011 it merged with Equity Trust, an established trust and fiduciary services provider. Today it operates out of more than 120 offices in more than 80 countries and employs more than 6,500 accountants, lawyers, corporate secretaries and other professionals.

Providence Life 

The board of Providence Life, a Mauritius-regulated life company launched in 2009, has elected Peter Drummond chairman.

Drummond, pictured right, who is currently the company’s executive director, in charge of global strategy, will continue to be based in Dubai, but in the coming months will wind down his executive duties with the company, as Mauritius regulations dictate that board chairmen are non-executive.

As reported, Drummond came to Providence Life in April, 2016 from the Bahrain-based life business formerly known as Legal & General Gulf, which he had helped to see through its 2015 sale to its locally-based JV partner, Ahli United Bank. Providence is active in Latin America, Africa and Eastern Europe.  He is originally from the UK and over the years has  held a number of senior positions at such companies as Friends Provident International, Oman Insurance Co, Muscat Life Insurance and NatWest Insurance Services.

Mercer

Mercer, the New York-based, internationally-focused consultancy and professional services business, has named Rich Nuzum president of its global wealth arm.

Also at the company, Martine Ferland, president, Europe and Pacific and Ken Haderer, president, North America have been named to co-lead Mercer’s global health business. International MercerMarsh Benefits leader, John Deegan, will now report to Martine Ferland, while Sharon Cunninghis, head of US Health, will continue to report to Ken Haderer.

Mercer said the changes followed the recently-announced departure of Jacques Goulet, who is to become president of Sun Life Financial Canada next week.

Nuzum, who joined Mercer in Tokyo, Japan in 1992, most recently had been wealth leader for Mercer’s Growth Markets region.

Mercer is a wholly owned subsidiary of New York Stock Exchange-listed Marsh & McLennan.

Transparency Task Force

George Kinder, an American economist, financial planner, author and founder of the Kinder Institute of Life Planning advisory network, has been named an “ambassador” for the Transparency Task Force, as the organisation prepares to expand into the US. The TTF was founded in 2015 by Andy Agathangelou, a UK-based financial services industry executive, to “harness the power of transparency” to boost the quality and “trustworthiness” of the financial services industry.

Kinder’s latest book, A Golden Civilization, considers what would be needed to create a civilisation that would be able to “thrive with freedom for a thousand generations”, according to a description of the book on the Kinder Institute’s website.

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