A new mutual fund and ETF chief is on the rise at a Midwestern insurer.

Kevin Thomas Jestice Nationwide Head of the Investment Management Group

Today, John Carter, president and chief operating officer of Columbus, Ohio-based Nationwide Financial [profile], confirms that Kevin Jestice is taking over as head of Nationwide's $67-billion-AUM investment management group (IMG). (The unit's 151 funds include mutual funds, ETFs, and CITs.) Jestice succeeds senior vice president Mike Spangler, who led IMG and served as president and CEO of Nationwide Funds and Nationwide Securities before leaving Nationwide last October.

Jestice starts his new role on February 6, company spokesperson Jeff Whetzel confirms.

Jestice has been serving as vice president of internal sales and service (ISS) and institutional investments distribution (IID) for Nationwide, which he joined in 2020. Carter lauds Jestice as "uniquely qualified to lead this important business," thanks to the latter's extensive investment and asset management experience, knowledge of the financial services industry, and sales and service expertise."

"His entrepreneurial mindset, collaborative approach, and ability to build relationships with and influence stakeholders will help IMG build on its already strong foundation," Carter states. "Kevin's deep expertise in this field — combined with his exceptional leadership — will be an asset as we work together to build mutually beneficial relationships and help clients protect and grow their assets."

Before joining Nationwide, Jestice spent 13 years at Vanguard, where he served as principal, head of institutional advisory services, head of institutional investor services, and (most recently) head of enterprise advice. Earlier, he worked on DC, DB, and health care at Ennis Knupp. He is an alumnus of the University of Pennsylvania's Wharton and of Loras College.

Spangler joined Nationwide back in 2008 to take over its investment management group. Earlier, he held leadership roles at Morgan Stanley Investment Management, Touchstone Investments, and Evergreen Investments. He also worked at M&T Bank and IBM. He is an alumnus of Lehigh University and of Elizabethtown College. 

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