Jim Kais has been hired as head of the group retirement business of Equitable Holdings effective April 1, succeeding Jessica Baehr, who was recently named president of Equitable Investment Management.
Kais will be responsible for strategy, product portfolio, client performance and financial results for the $36.5 billion business that focuses on 457 plans, 403(b) plans in the K-12 sector and 401(k) plans for small and mid-sized businesses, according to a March 27 company news release.
The group retirement business includes more than 9,000 school districts and 800,000 educators, an Equitable spokeswoman wrote in an email.
Kais will report to Nick Lane, president of Equitable, and join the company’s operating committee. “With nearly three decades of experience, Jim is a proven and respected leader in the retirement industry with a strong record of transforming and growing businesses,” Lane said in the news release.
Kais joins Equitable from Ameritas where he was head of retirement plans. A representative from Ameritas did not respond to a request for comment about a successor.
At Equitable Investment Management, Baehr will report to Steven Joenk, the chief investment officer for Equitable, according to the news release. Equitable Investment Management, with $116 billion assets under management, is the registered investment adviser for the 126 portfolios in Equitable’s variable insurance products, retail mutual funds and model portfolios, the news release said.
Baehr succeeded Michal Levy “who left the company for a new opportunity,” the Equitable spokeswoman said without providing details.
