Pentegra Retirement CEO Announces Retirement
WHITE PLAINS, NY, September 20, 2012 -- President and CEO of Pentegra Retirement Services, Robert C. Albanese announced today that he will retire effective June 30, 2013. Pentegra's Board of Directors has elected John E. Pinto to succeed Mr. Albanese as President and CEO, and also elected him a member of the board effective when Mr. Pinto becomes President and CEO. Mr. Pinto is currently Pentegra's Executive Vice President and Chief Operating Officer.
In making his announcement, Mr. Albanese said, "It has been a true honor leading a company with such integrity and concern for the well-being of its clients, employees and community."
Mr. Albanese became Pentegra's President and Chief Executive Officer in 2007. During his tenure, the company doubled its assets under management to over $8 billion. He oversaw Pentegra's acquisition of RSGroup in 2008, Alliance Benefit Group-Pentegra in 2011, and the acquisition of a block of business from National Life Group. He also enacted a new strategic direction for the organization that has greatly broadened its reach.
About Mr. Pinto, Mr. Albanese said, "John has successfully led several of Pentegra's most important strategic initiatives over the past decade, including the acquisitions of two major lines of business for Pentegra. With every strategic initiative, he played a key leadership role, and has greatly broadened Pentegra's presence in the industry. He has spurred us to keep pace with the needs and aspirations of our clients, as well as that of the marketplace. He brings to his new role a combination of vision, client focus, and passion for Pentegra's future. Over the next nine months, we will work closely to ensure a smooth transition."
Mr. Pinto said, "I am privileged to be asked to lead Pentegra. Bob has done a wonderful job in positioning our organization for future success, and has transformed Pentegra based on his strategic vision. Today, Pentegra's strategies and business model are aligned. Our ability to execute and deliver consistent results for clients is strong. This is due to Bob's foresight and leadership. I look forward to building on Pentegra's successes and to continue to offer high-quality retirement plan solutions that respond to the changing industry landscape."
Mr. Pinto joined Pentegra in 1991. He holds an M.B.A. in Finance from Sacred Heart University, and a B.S. in Accounting and Business Administration from Kings College.
About Pentegra Retirement Services
Pentegra Retirement Services is a leading provider of retirement plan solutions to organizations nationwide. Founded by the Federal Home Loan Bank System in 1943, Pentegra offers a full range of retirement programs, including 401k plans, Defined Benefit Pension plans, Cash Balance plans, 412(e)(3) Fully Insured Defined Benefit plans, Split Funded Defined Benefit plans, KSOPs, ESOPs, Profit Sharing plans, Age-Weighted plans, New Comparability plans, 457(b) and 457(f) plans, 403(b) plans, 401(a) plans, Section 79 plans, Non-qualified Executive Benefit and Director plans, benefits financing solutions using BOLI and a broad array of TPA services. More at www.pentegra.com
###
Click here for more material dealing with current trends, opinion, news, legislative action, investments, marketing, sales, consulting, and legal issues on 401k plans.
This is a press release provided by the company mentioned or its representatives. Although 401khelpcenter.com may edit the release for editorial consistency, spelling, grammar, punctuation, or other editorial issues, it is not the author of the press release. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by 401khelpcenter.com.
