Elaine Sarsynski to Head Retirement Services at MassMutual
SPRINGFIELD, MA, January 7, 2008 -- MassMutual Financial Group today announced a new leader for its retirement services business.
Stuart H. Reese, Chairman, President and CEO of Massachusetts Mutual Life Insurance Company, announced that Executive Vice President Elaine Sarsynski -- who is Chairman, President and CEO of MassMutual International LLC -- will assume additional responsibilities as head of the Retirement Services Division.
The appointment comes as Executive Vice President Fred Castellani, Retirement Services, has announced he will retire at the end of February. Mr. Castellani, 61, joined MassMutual in 1996, and has led the Retirement Services Division since 2001.
MassMutual's Retirement Services Division has been serving retirement plans for more than 60 years. It offers a full range of products and services for corporate, union, nonprofit and governmental employers' defined benefit, defined contribution and nonqualified deferred compensation plans.
"Under Fred Castellani's leadership, MassMutual's Retirement Services Division has achieved substantial growth and profitability, and today is a leader in its marketplace, serving nearly one million participants," Mr. Reese said. "We are fortunate to have Elaine Sarsynski, a proven and talented business professional, as part of our senior management team to lead this strategically important operation, and I am confident she will continue to accelerate the positive momentum that Fred has achieved."
As Chairman, President and Chief Executive Officer of MassMutual International LLC, Ms. Sarsynski, 52, is responsible for international insurance operations, including subsidiaries in Hong Kong, Taiwan, Japan, Luxembourg and Chile.
Ms. Sarsynski joined MassMutual in 2005 as senior vice president and chief administrative officer. Prior to joining the company, she was managing director of Babson Capital Management LLC, a MassMutual subsidiary, serving as portfolio management group head.
Ms. Sarsynski has extensive experience effectively managing large organizations in both the corporate and municipal sectors, leading the Corporate Finance Department, Real Estate Investment and Mortgage Finance operations for Aetna Life and Casualty, and then serving as Chief Executive Officer for Suffield Township in Suffield, Conn. At Aetna Life and Casualty, where she worked from 1981 to 1998, Ms. Sarsynski was responsible for portfolio management, general corporate investments, real estate investments and corporate finance.
About MassMutual Financial Group
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual and its subsidiaries have more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
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