Deals & People March 30, 2009

Transamerica Retirement CEO to Head New Unit of AEGON Companies

Transamerica Retirement Services announced the promotion of CEO and President Kent Callahan to group head of Employer Solutions and Pensions for the AEGON companies.
Reported by

In his expanded role, Callahan will oversee the operations of Diversified Investment Advisors, Inc.; Transamerica Retirement Services; Worksite Marketing; and Clark Consulting, Inc., according to an announcement. He will also retain his current role as president and CEO of Transamerica Retirement Services.

This newly formed group includes more than 3,000 employees of AEGON companies, the announcement said. It creates a new structure designed to enable the AEGON companies’ business customers to understand the broader portfolio of products and services offered by these four business units.

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Callahan joined Transamerica Retirement Services in 1986 and has served in several different roles prior to being promoted to president and CEO. He will continue to be based in Atlanta and will report to Mark Mullin, president of AEGON Americas.

Deals & People March 30, 2009

Financial Engines to Service Hewitt-Administered 401(k) Plans

Participants in 401(k) plans administered by Hewitt Associates will now have access to financial advice from Financial Engines.
Reported by

A news release from the two companies said their alliance will mean participants will have access to a personalized retirement evaluation, online investment advice, and managed accounts.

According to the announcement, Financial Engines’ retirement income forecast—which provides an estimate of income in retirement and keeps participants focused on their long-term goals—will be included on the Hewitt participant Web site. Financial Engines’ advisers can implement savings decisions on behalf of participants in Hewitt-administered plans immediately because of the arrangement.

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“Hewitt believes offering investment advice and managed accounts to employees adds an important element of decision support to plan design, addressing the diverse needs and preferences within the population,” said Alison Borland, Hewitt’s leader of Retirement Outsourcing Product Strategy, in the release.


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