Hub Acquires Horan Employee Benefits Division

Renamed, Hub Heartland will be led by Valerie Bogdan-Powers, Horan’s former division president.


Hub International Ltd., which provides employee solutions that include retirement planning and wealth management, announced it has acquired the employee benefits assets of Horan Health, establishing a new regional hub in the Midwest to be called Hub Heartland.

Horan Associates Inc. and Horan Smart Business LLC, collectively known as Horan Health, provide employee benefits solutions to more than 650 small and midsize companies. The firm has almost 120 employees in Ohio and Northern Kentucky, serving both corporate and individual clients in 48 states.

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“M&A continues to be an important part of HUB’s growth, provides opportunities for us to expand our geographic reach and services, and results in attracting top-tier firms such as HORAN Health,” Marc Cohen, Hub’s president and CEO, said in a statement.

The deal adds to Chicago-based Hub’s steady buildup of regional footprints across insurance, workplace retirement plan advisement, wealth management and employee benefits. In May, the firm announced a “substantial” minority investment stake taken by private equity firm Leonard Green & Partners LP, in part to continue Hub’s growth trajectory. At the time, the firm confirmed it expected further investment stakes to fuel growth.

Hub Heartland will be led by Valerie Bogdan-Powers, the former president of Horan Health, who has led the firm’s overall strategy with a focus on growth, according to Tuesday’s announcement. Before joining Horan Health, she worked at Procter & Gamble in sales and brand management for more than 20 years.

“Joining the Hub team means we gain national expertise and product expansion, and we maintain local autonomy,” said Bogdan-Powers in a statement. “This acquisition provides growth opportunities for our employees and a new level of support for our clients.”

With the Heartland group forming part of Hub’s Central Region, Bogdan-Powers will work alongside Neil Hughes, the regional president.

“HORAN Health joining us is a natural progression of our strategic growth plan in the Central Region,” said Hughes in a statement. “With the highly regarded HORAN Health team led by Valerie Bogdan-Powers, we significantly strengthen the depth of services to our clients, enhancing our position in the region.”

The Horan Wealth division will continue to operate independently under its current president and CEO, Terence Horan. The CEO said in the announcement that the decision for the employee benefits division to join Hub came after an “18-month journey.”

Ameritas Names New CEO, New President to start in 2024

Bill Lester will retire next year, with Bob Jurgensmeier set to succeed him as CEO and Susan Wilkinson as president and chief operating officer.


Ameritas announced this week that Bill Lester will retire as president and CEO of Ameritas Mutual Holding Co. and several related entities, and two separate successors will prepare for transitions effective on January 2, 2024.

“Bill’s legacy reflects 40 years of unwavering commitment to the Ameritas purpose and customers and to everyone associated with the organization,” Ameritas board chair Tonn Ostergard said in a statement. “The board and I thank Bill for his leadership and congratulate him on his retirement.”

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Bob Jurgensmeier will succeed Lester as CEO, as selected by the board. In addition, Jurgensmeier and the board announced Susan Wilkinson as president and chief operating officer.

“Bob and Sue are smart, strategic leaders with a great vision for the future and a deep understanding of our industry and of the unique qualities that make Ameritas so special,” Lester said in a statement.

Lester oversaw the various business units of Ameritas, including a retirement division that focused on more tailored retirement plan solutions for plan sponsors, including the launch of its Ameritas GPS platform and 403(b) solution in 2020 to allow employers to create and manage plans. In March 2022, he promoted Jim Kais to executive vice president of retirement plans, noting the executive’s work in reworking the firm’s retirement plans distribution system and bringing on industry experts.  

Nebraska native, Lester began his career with Ameritas as a securities analyst in 1983. After holding several different positions in the firm, he became CEO in January 2020. He is a chartered financial analyst and is a member of the Omaha/Lincoln Society of Financial Analysts.

“Ameritas has been my career, and I am deeply grateful for the opportunities I’ve had and the people I’ve come to know with this remarkable company,” Lester said in a statement. “Ameritas is strong and stable, with an outstanding team of dedicated associates and a growing network of excellent distribution colleagues. Now is a good time for me to take this step. Cindy and I look forward to having more time for family pursuits and continued community involvement.”

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