DEFINED CONTRIBUTION

Nuveen expands DCIO business

Nuveen has appointed new executives within its defined contribution investment-only business, spokeswoman Mary Ellen Higgins said.

Kate Jonas was named managing director, head of global consultant relations.

Meanwhile, Christine Stokes was named managing director, head of retirement practice management, and Ashish Gandhi has been appointed managing director, DCIO institutional sales. The positions are new. The new hires are part of a strategic growth initiative that began with the appointment of Erin Donnelly in April 2016 to lead the firm’s fully integrated DCIO efforts.

Ms. Jonas will oversee Nuveen’s consultant relations strategy and support the firm’s sales efforts in both the defined benefit and defined contribution plan markets. She is based in New York and will report to both Carl Katerndahl, executive vice president, head of U.S. advisory services, and John Panagakis, executive vice president, head of international advisory services.

Ms. Stokes is responsible for enhancing the firm’s practice management offering in the retirement space to support the distribution growth strategy. She is based in New York and will report to Ms. Donnelly, executive vice president and head of DCIO.

Mr. Gandhi will focus on business development targeting largest DC plans. He is based in Boston and will also report to Ms. Donnelly.

Ms. Jonas was a managing director at BlackRock (BLK) and a member of the North American institutional defined contribution team within BlackRock's global client group; Ms. Stokes was a senior product manager focused on multiasset solutions for the institutional, intermediary and affiliate businesses at Voya Investment Management; and Mr. Gandhi was a director within LMCG Investments’ institutional business.

Ms. Jonas’ position hasn’t been filled yet, said BlackRock spokesman Farrell Denby. Ms. Stokes has also not yet been replaced; her responsibilities are currently being covered by other members of the product team, Voya spokesman Kristopher Kagel confirmed.

It could not be learned by press time if Mr. Gandhi was replaced; Greg Mulready, LMCG’s managing director of sales and marketing, could not be immediately reached for comment.

Nuveen, the investment management arm of TIAA, had $906 billion in assets under management as of March 31.