Genworth Financial snags Myra Rothfeld from Citibank
The TAMP is making the former Schwab and Citi executive its head of marketing
3 min read- Genworth Financial hired Myra Rothfeld as chief marketing officer.
- Rothfeld will oversee marketing, brand strategy, and product management.
- GFWM seeks to enhance advisor support amid a challenging landscape.
- Rothfeld's experience includes Schwab and Citibank RIA channel leadership.
Genworth Financial Wealth Management today announced the appointment of Myra Rothfeld as its chief marketing officer.
After a long stint with Citibank, Rothfeld will be in charge of Genworth Financial Wealth Management marketing, brand strategy and product management related to independent financial advisors See: McWhinney gains aid of Myra Rothfeld. The fast-growing turnkey asset management program is based in Pleasant Hill, Calif.
“With today’s challenging landscape, we want to be more proactive and responsive in supporting our advisors,” says Gurinder Ahluwalia, CEO of Genworth Financial Wealth Management, in a statement. “[Rothfeld’s] breadth of marketing experience and familiarity with the independent financial advisor will help us fulfill our mission.”
Blistering pace
GFWM had about $25 billion of TAMP assets at the end of 2010, including $3 billion from its purchase of Altegris Investments. It has added net new assets at the blistering pace of more than $400 million per quarter during the year. See: TAMP assets came easily to Genworth, Envestnet and Loring Ward in 2010 and the fourth quarter sizzled.
McWhinney gains aid of Myra Rothfeld
But just because the company is a powerhouse doesn’t mean it can’t hit another gear of growth, according to Rothfeld.
“I actually think you can do better. That creates even more of a challenge,” she says.
Although Rothfeld says she’s not in a good position to explain her strategy on day three, she does say that there are not any radical changes in the works. Genworth is known for its intensive practice management consulting and Rothfeld says that GFWM will build on that by creating more segmented offerings.
Initial excitement
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Rothfeld is well known to many RIAs after spending 16 years at Schwab, ending her career at the firm as senior vice president of marketing from 2001 to 2008.
From May of 2009 until she was hired by GFWM, Rothfeld worked as general manager of the RIA channel at Citibank Personal Wealth Management, serving the RIA unit’s head, Debby McWhinney. See: McWhinney gains aid of Myra Rothfeld. she had worked for McWhinney at Schwab.
During Rothfeld’s tenure at Citi, the RIA channel consisted of approximately 600 advisors who had remained at the company after it spun off Smith Barney. Those numbers have since dwindled, but there was plenty of initial excitement when McWhinney joined Citi because independent advisors saw the potential for scooping up the high-net-worth referrals that formerly flowed to Smith Barney. See: Pershing wins Citigroup account and will support its RIA referral network.
McWhinney left the wealth management side of Citi in February to become head global digital merchant acquiring, according to Bloomberg. Since then, Citi has kept quiet about its plans.
Feeling the energy
“Myra is passionate about the independent advisor space and she brings innovative ideas to help the advisors we serve grow and compete in their markets,” says Ahluwalia in the statement.
In addition to Rothfeld and Ahluwalia, GFWM’s prominent executives include Ron Cordes and Michael Kim. The TAMP unit of Genworth has about 500 employees.
“You walk the floors here and you really feel the energy,” Rothfeld says.
Rothfeld is originally from New York but kept her Bay Area home when she moved to east to join Citi.
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