MassMutual Retirement Makes Senior Management Changes

The Retirement Services Division of Massachusetts Mutual Life Insurance Company announced 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. Collins is leaving April 17 to join MFS Investment Management, working in its global asset management organization. MassMutual tells PLANADVISER O’Toole is leaving the firm to start a new business venture. He will remain at MassMutual through June, then take some time to define his new business model, likely continuing his focus on driving integrated benefit solutions for employers and employees.

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 adviser, consultant and third-party administrator (TPA) markets.

Morabito, senior vice president, will join the senior leadership team in her current role leading Client Relationship Management, responsible for driving client service and satisfaction for MassMutual’s retirement plan sponsors.

Haendiges, current vice president of Investment Distribution, will succeed 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, as well as its investment consulting practice. Haendiges has extensive experience across the retirement business in product management and development, investments, and operations.

Silvanic will lead the Product organization with its current management team. McDonagh, senior vice president, will replace 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 (see “Thought Leadership: Looking Ahead”). “I am confident that these accomplished leaders and their teams will continue to propel us forward as the provider of choice for our advisers, plan sponsors, TPAs, and participants,” says Sarsynski.

MassMutual won a Best in Class participant services award for its education program in the 2013 PLANSPONSOR DC Survey.