Money Management

Schroders adds head of U.S. defined contribution and insurance sales

Joel Schiffman, a former Janus Henderson Investors executive, joined global investment manager Schroders as head of U.S. defined contribution and insurance sales, according to a Schroders news release.

It is a new position. Mr. Schiffman oversees the firm's existing subadvisory and insurance businesses and is responsible for expanding its defined contribution business. He started Jan. 28.

Mr. Schiffman, who is based in New York, reports to Marc Brookman, deputy CEO North America.

"The defined contribution segment is one where we see opportunities to continue growing and we are confident that with Joel's depth of knowledge and deep relationships in the space, we will be well-positioned to better serve this market," Mr. Brookman said in the news release.

Mr. Schiffman was vice president and director of financial institutions at Janus Henderson. Spokesman Dex McLuskey could not immediately determine whether or how close the firm was to finding a replacement.

Schroders also promoted seven-year company veteran Tiffani Potesta to a new position as head of distribution strategy, North America. In addition, Ms. Potesta will continue to lead the alternative sales and wealth management solutions divisions and will oversee product development as well as marketing and requests for proposals.

"We are committed to growth in North America, and one of the key components is ensuring we have a clearly defined strategy along with the right team to support our ambitions," Mr. Brookman said.