Milwaukee-based Northwestern Mutual has formed a new unit, Mason Street Advisors, a spokesperson with the firm told the MutualFundWire.com. Mason Street will provide investment advisory services to the parent company, Mason Street funds, and the separate accounts for the variable life and annuity products at Northwestern.

Mark Doll, senior vice president for public markets at Northwestern will take the helm at Mason Street Advisors as president. His team has already been assembled. The division will employ approximately 50 individuals, mostly from the public markets department at Northwestern Investment Management Company.

"We are building for the future with a coherent, distinct organization that has the legal, regulatory and operational infrastructure to provide stronger investment advisory services," stated Doll.

The firm contends that the new unit helps with such issues as company identity, organizational infrastructure, and addressing legal and regulatory needs. 

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