David Berkowitz, Marc Brookman, Mark Hancock and Burt White Elected Board Members
WASHINGTON, D.C., April 30, 2013 – The Money Management Institute (MMI), the national association representing the managed investment solutions and wealth management industry, today announced that John K. Moninger, Managing Director of Retail Sales for Eaton Vance, has been elected Chairman of MMI’s Board of Governors for the coming year. Three other appointments were also announced: Joseph Schultz, Senior Vice President, Head of Intermediary Sales for American Century Investments, is Chairman-Elect for 2014-15; Lorna Sabbia, Managing Director, Head of the Managed Solutions Group at Bank of America Merrill Lynch, is MMI’s Treasurer; and John Sweeney, Executive Vice President of Fidelity Investments, was named Secretary.
Mr. Moninger assumed the duties of office at the 2013 MMI Annual Convention in New York the week of April 22nd, when past Chairman Matt Witkos, President of Eaton Vance, completed his term and became Chairman Emeritus.
MMI President Christopher L. Davis also announced that David Berkowitz, Marc Brookman, Mark Hancock and Burt White have been elected to the MMI Board of Governors. Mr. Berkowitz is President of Lincoln Financial Network, the retail distribution arm of Lincoln Financial Group. Mr. Brookman is Managing Director and Associate Director of the Consulting Group at Morgan Stanley Wealth Management. Mr. Hancock is a Managing Director at Goldman Sachs Asset Management where he leads the U.S. Advisor Sales Group. Mr. White is a Managing Director and Chief Investment Officer of LPL Financial.
“Each of our new Governors brings vast experience and fresh perspective to our Board. With their contributions and the leadership of Chairman Moninger, MMI will remain at the forefront of the important trends and issues shaping the future of advisory solutions,” said Mr. Davis.
MMI’s Board of Governors is comprised of representatives from 32 industry firms – nearly evenly split between asset management companies and broker-dealers – that handle more than 90% of the approximately $2.7 trillion in assets under management in the advisory solutions industry.
“I am honored to be chosen to lead the MMI Board of Governors,” said Mr. Moninger. “Having joined immediate past Chair Matt Witkos here at Eaton Vance last November, we now have a unique opportunity to work together – not only as business partners – but to advance the mission of MMI and the services it provides to member firms. As I take over from Matt, MMI is in a very strong position. Our membership continues to grow at a record pace, our sold-out conferences and educational programs deliver exceptional value and content, and we continue to set the industry standard for data and analysis on the advisory solutions marketplace.”
Prior to joining Eaton Vance in November, 2012, Mr. Moninger served as Executive Vice President, Advisory and Brokerage Consulting Services, at LPL Financial Services. In that position, he was responsible for the firm’s advisory and brokerage platforms and for leading a team of product consultants. He also led LPL’s Financial Planning Group and Wealth Management Services, which provide advice and solutions for high-net-worth and ultra high-net-worth clients. Previously, he had been national consulting director for investment solutions for UBS Financial Services. He currently serves on the board of directors of the Investment Management Consultants Association and the Naval Special Warfare Family Foundation.
About the Money Management Institute (MMI): Since 1997 MMI has been the leading voice for the global financial services organizations that provide advice and professionally-managed solutions to individual and institutional investors. Through industry advocacy, educational initiatives, regulatory affairs, data reporting and professional networking, MMI supports and advances the growth of advisory solutions. MMI members’ advice-driven investment solutions serve an evolving worldwide financial landscape and their organizations are committed to the highest standards of fiduciary responsibility and ethical conduct. For more information, visit www.moneyinstitute.com.