Michael Raso was named senior vice president and director of institutional retirement at Old Mutual Asset Management.
The position is new, according to an Old Mutual spokesman.
Mr. Raso's primary responsibilities will be “developing and maintaining relationships” with sponsors in the defined contribution investment-only market, said the spokesman, who declined to be identified. “He will also focus on subadvisory opportunities for mutual funds and insurance annuity products ...“
Mr. Raso will report to Brian Carroll, head of U.S. institutional distribution, according to an Old Mutual news release.
Mr. Raso was partner, operations and administration, at investment management firm Crosswind Investments. Malcolm MacColl, founder and managing partner of Crosswind, said in a telephone interview that Mr. Raso won't be replaced; his previous duties will be handled by other employees.