(Enfield, CT) – The Retirement Services Division of Massachusetts Mutual Life Insurance Company (MassMutual) announced today changes to its senior management team. Eric Wietsma, current Senior Vice President of Investments, will lead the Sales & Worksite Education organization, and Bill Silvanic, current Senior Vice President and Chief Financial Officer of the Retirement Services division, will lead the Product organization. Additionally, Brian Haendiges, Keith McDonagh, and Una Morabito are joining the Retirement Services senior leadership team.
The changes are being made as two senior leaders, Jared Collins, Senior Vice President of Product, and Hugh O’Toole, Senior Vice President of Sales and Client Management, announced they are leaving MassMutual. Mr. Collins is leaving April 17 to join MFS Investment Management, working in its global asset management organization. Mr. O’Toole is remaining at MassMutual through June and will then focus on defining his new business model, likely continuing his focus on providing successful financial outcomes and driving integrated benefit solutions for employers and employees.
The changes to MassMutual Retirement Services’ management team are as follows:
• Mr. Wietsma will lead the Sales & Worksite Education organization, including Sales, Key Accounts, Sales Engineering, Sales Operations and Retirement Education Services and their current leaders. He has previously led distribution organizations and brings a wealth of experience in the advisor, consultant, and third party administrator (TPA) markets.
• Ms. Morabito, Senior Vice President, will join the senior leadership team in her current role leading Client Relationship Management, responsible for driving the highest levels of client service and satisfaction for MassMutual’s retirement plan sponsors.
• Mr. Haendiges, current Vice President of Investment Distribution, will succeed Mr. Wietsma as the Senior Vice President leading Investment Services. This role includes leading all investment operations, management of the MassMutual family of mutual funds and its stable value offerings providing retirement plan investors with world-class investment options, as well as its investment consulting practice that provides retirement plan sponsors with market-leading investment consultation and products. Mr. Haendiges has extensive experience across the retirement business in product management and development, investments, and operations.
• Mr. Silvanic will lead the Product organization with its current management team, continuing MassMutual’s focus on thought leadership and solutions that help Americans effectively utilize their employer’s voluntary benefit offerings. Keith McDonagh, Senior Vice President, will replace Mr. Silvanic as head of Finance for Retirement Services.
All will report to Elaine Sarsynski, Executive Vice President of MassMutual Retirement Services and Worksite Insurance and Chairman of MassMutual International. “I am confident that these accomplished leaders and their teams will continue to propel us forward as the provider of choice for our advisors, plan sponsors, TPAs, and participants,” said Ms. Sarsynski.
“We thank Jed and Hugh for their leadership, vision and teamwork, and are appreciative of their contributions to the success of MassMutual’s business as a retirement plan leader,” Ms. Sarsynski continued. “We wish them well in their new endeavors and look forward to lasting relationships in their new capacities.”
Commenting on the new leadership team, she stated: “We are excited that these proven leaders will ensure our continued focus and success on helping Americans everywhere retire on their own terms.”
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyowners consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company’s strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
MassMutual’s Retirement Services Division has been serving retirement plans for more than 65 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans. It serves approximately 3 million participants.