A 28-year industry veteran, Davison has held various leadership roles in his 14 years at OneAmerica including chief financial officer, executive vice president and, most recently, president since August 2013.
Under Davison’s leadership, OneAmerica has plans to grow assets under administration from a record $36.4 billion in 2013 to $50 billion in three years. To achieve this milestone, the company will add up to 50 staff positions in 2014, grow its sales force and invest more than $100 million in new technology and service capabilities in next three years.
Davison tells PLANADVISER large pieces of this growth will be in its retirement business. “We’ll be hiring field sales professionals, expanding our distribution footprint, and investing more in technology and services,” he says. Davison points out that even though OneAmerica ranked number two in service with Boston Research Group, “we still think we can be better.”
OneAmerica has been in the retirement business for more than 51 years, and it is one of the firm’s two largest businesses, Davison notes. “We think there’s a huge opportunity in this business due to the retirement gap, and we intend to grow and be aggressive,” he says.
According to Davison, One America plans to grow all lines of its retirement business, including the nonprofit retirement business, “which is a big focus and a business we like.” He adds, “We will continue to push our broad product portfolio. We are an open architecture platform for everything from 401(k), to 457s, defined benefit and ESOPs.” OneAmerica has also recently entered the pension risk transfer business (see “OneAmerica Joins Pension Buy-Out Marketplace”).
Davison steps into the role of CEO following Dayton Molendorp’s retirement on March 31. Molendorp remains the non-executive chairman of the board of OneAmerica and its parent company American United Mutual Insurance Holding Company.