Jeffrey Leonard and Harry Reinhart were named managing directors to head up a new actuarial services team at Wilshire Consulting, confirmed Julia Bonafede, president.
The positions are new.
Mr. Leonard will serve as head of actuarial services, and Mr. Reinhart will lead client relationship efforts. They will both report to Ms. Bonafede. The actuarial services team will fall under the Wilshire Consulting brand that also includes its outsourced CIO business.
Mr. Leonard was a managing director leading the North American retirement practice at Buck Consultants, and Mr. Reinhart was a managing director for the Eastern region of the U.S. at Buck. Ted Goldman, principal, retirement, takes over as interim head for Mr. Leonard, and Dean Aloise, formerly market leader for the Pittsburgh and Cincinnati offices, will replace Mr. Reinhart, said Buck spokesman Ed Gadowski.
Ms. Bonafede said Wilshire's current actuarial team does only asset/liability studies, and the firm is expanding to offer all services such as funding valuations and benefit calculations. Ms. Bonafede said the goal is to provide clients with a suite of investment services, risk management and actuarial services.
“We think we construct really thoughtful, well-constructed portfolios to reach goals on derisking,” Ms. Bonafede said. “All three working together make for a unique solution.”
The actuarial services team will focus only on corporate pension funds. Ms. Bonafede said the firm was looking for ways to add value to clients, and these additions fit well with its capabilities of providing customized liability-management strategies.