SPRINGFIELD, Mass., October 14, 2015 – MassMutual Financial Group has announced the appointment of Eddie Ahmed, Executive Vice President and Chief Human Resources Officer. Ahmed, who has more than 20 years of leadership experience in the global financial services industry, succeeds Debra Palermino, Executive Vice President, who is retiring after serving a decade with the company.
Ahmed joins Massachusetts Mutual Life Insurance Company (MassMutual) from Citigroup, where he spent five years, most recently as Managing Director of Human Resources for Europe, Middle East and Africa, as well as the firm’s Global Head of Recruitment. While at Citigroup, Ahmed led the company’s Global Employee Shared Services department in its Operations and Technology Division, a role in which he was responsible for all technology systems and operations around the world.
Prior to joining Citigroup, Ahmed spent 17 years with Morgan Stanley, working in New York, Tokyo, Sydney and Hong Kong. His final position with Morgan Stanley was as Head of Human Resources for Asia. Prior to that, he was the Chief Administrative Officer, Asia, with responsibility for the execution of cross divisional strategy and direct management of regional infrastructure and support functions. Ahmed began his career in 1989 as an associate with Mitsubishi UFJ Financial Group in New York.
“Our Human Resources team plays a critical role in attracting, developing, training and retaining our employees, who we believe are the gold standard in our industry,” said Roger Crandall, Chairman, President and CEO of MassMutual. “Eddie brings to MassMutual an impressive history of more than two decades of global financial services leadership and experience – in roles ranging from operations to technology to human resources. I am confident his combination of talent and business acumen will position him to build on the exceptional foundation we have in place and help further our strategy of helping people secure their future and protect the ones they love.”
Crandall also underscored the significant contributions from Palermino during her decade at the helm of MassMutual’s Human Resources organization, a time of exceptional growth within the company. In just the past few years, for example, MassMutual has been recognized as a Top 50 Company for Diversity by DiversityInc, a Working Mother 100 Best Company, a World’s Most Ethical Company by Ethisphere, a Top 10 Company for Executive Women by the National Association for Female Executives (NAFE) and a Human Rights Campaign’s Best Place to Work.
Most recently, in September, Palermino was named as one of 14 NAFE Women of Excellence, recognized by the organization as the 2015 Corporate Women’s Champion.
“Thanks to Deb’s tremendous leadership and the commitment of her team, we have achieved so much over the past decade, from creating a more inclusive workplace that has received industry-wide recognition to building a higher performing culture and workforce – all while reinforcing the values we hold true today,” added Crandall. “Importantly, Deb has conducted her role with passion, courage and commitment, and I, along with the entire MassMutual community, am extremely grateful for all of her contributions to the company.”
Ahmed holds bachelor’s degrees in both computer science and international relations from Tulane University, where he also earned his MBA. He is a member of the Board of Directors of Temasek Management Services in Singapore, and is a former member of both the Board of Directors of Citibank Turkey and the Supervisory Board of Poland’s Bank Handlowy.
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.