Matt Wolniewicz was named president of Income America, a company spokeswoman confirmed Wednesday in an email.
The position is new. Mr. Wolniewicz will oversee the newly formed provider of target-date funds and be responsible for setting and executing strategy, and coordinating the efforts of the firm's partners.
Income America was launched last week by a consortium of firms that includes American Century Investments, Lincoln Financial Group, Nationwide, Prime Capital Investment Advisors, SS&C Technologies, Wilmington Trust and Wilshire.
It has initially launched a series of non-proprietary, multimanaged target date portfolios. The Income America 5forLife target-date portfolios provide a lifetime income guarantee of 5% a year, beginning at age 65.
Mr. Wolniewicz was president of Fi360. John Faustino is now head of the firm, according to the company's website. A Fi360 spokesman could not be immediately reached for comment.
