M&A
Mutual of America Financial Group
Retirement and investment services provider Mutual of America Financial Group has acquired Landmark Life Insurance Company for an undisclosed sum. Landmark is a Texas-licenced life and annuity insurance company. The M&A deal is expected to close in Q3 2022, subject to regulatory approval. If you are looking for the latest news, start by checking this post about Jimmy John Shark.
Fortis Capital Advisors
Kansas City-based Registered Investment Adviser (RIA) Fortis Capital Advisors has bought Leonard Management Group (LMG).
LMG was set up in 1980 in Avon, Connecticut and provides financial advice and investment strategy solutions.
The financial terms of the deal were not disclosed.
People Moves
Private Advisor Group
The New Jersey-based independent wealth manager promoted Frank Smith to president, effective immediately.
He has been at the firm since January 2021 as head of adviser growth, and before then he worked as director of investment solutions at Cuna Mutual Group.
Securities & Exchange Commission (SEC)
Inspector general Carl Hoecker will retire from the financial regulator from 7 May 2022.
He has led the office of inspector general since February 2013.
Deputy inspector general for audits, evaluations and special projects Rebecca Sharek will serve as acting inspector general.
Galliott Capital Advisors
Beverly Hills-based independent wealth advisory firm Galliott Capital Advisors hired Robert Mourad as chief portfolio strategist.
He will also take on the role of executive director of products and services.
Mourad joins from UBS Financial Services where he spent over 26 years during which he held several positions, most recently as advisory sales consultant.
Wilmington Trust
The Delaware-headquartered wealth management services provider named Skip Stern as a senior private banker in its New York City office.
He joins from Bank of America Merrill Lynch where he served as a director and senior custom credit executive for 11 years.
