Paul Hondros joined Nationwide Financial Services, where he will form...

Paul Hondros joined Nationwide Financial Services, where he will form a new investment management company based in Philadelphia. The as-yet unnamed company will combine Nationwide’s existing investment management operations under one roof and a single brand name. Nationwide’s investment subsidiaries are Nationwide Advisory Services and Morley Financial Services. The new entity will acquire more money managers to broaden its investment advisory capabilities and mutual fund distribution. According to a company statement, Mr. Hondros will also launch new mutual funds managed by Nationwide Advisory Services and Morley through the new company. Mr. Hondros previously was with Pilgrim Baxter and prior to that he was president of Fidelity Investments’ institutional and retail client services.