Jan 14 Bank of America Corp's Merrill
Lynch said on Monday that former Fidelity Investments executive
Jeff Cimini has joined the company as a managing director and
head of personal retirement.
Cimini was most recently president of Fidelity Investments
Life Insurance Company.
"We're going to have to start thinking about products and
solutions in an aggregate fashion, not as a one-off, silver
bullet type of thing," Merrill Managing Director David Tyrie
said in an interview, noting that Cimini's new role will help
bring together different areas of retirement planning and
"Jeff will have accountability not only for the college
planning side of things, but also have the dialogue for things
like: 'How do you think about healthcare?' You have to think
about ... how the whole package comes together," Tyrie said.
In his new role, Cimini leads product strategy, innovation
and delivery across multiple enterprise channels for the firm
and work with Merrill's retirement specialists across the
Direct reports to Cimini include Bill Hunter, director of
personal retirement solutions; Eve Varner, director of
interactive platform management; and Rich Polimeni, director of
education savings programs.
Cimini, who has worked in the industry for 25 years, started
his career on the institutional side as a portfolio manager
focusing on stable value products. He later turned to investment
consulting for Fidelity and eventually moved to the company's
life insurance business as head of products and sales.
Fidelity spokesman Joseph Madden said the Fidelity Life
Insurance Company is now part of Fidelity's investment solutions
organization, headed by Cyrus Taraporevala.
Taraporevala most recently led Fidelity Asset Management's
Investment Capability Management team. He reports to Kathleen
Murphy, president of personal investing.
Cimini's hiring comes as Merrill plans to build out its
personal wealth and retirement business, Tyrie said. The team
also recently added former Morgan Stanley director Michael
Maghini to head its insurance and annuities division.
Cimini is based in Boston at Merrill's 100 Federal Street