MassMutual’s Retirement Services group led by EVP Elaine Sarsynski announced major changes in senior management April 14. Most notable is the departure of Hugh O’Toole, head of sales and worksite education. O’Toole, who will be leaving in June, will be replaced by SVP Eric Wietsma, currently leader of MassMutual’s investment group. In addition, Bill Slavanic, Sarsynski’s CFO, will head up product, replacing Jed Collins. Collins, who will leave as of April 17, will return to MFS. Replacing Wietsma will be Brian Haendiges, with Keith McDonagh taking over for Slavanic as CFO.
MassMutual has experienced a stunning rejuvenation since early 2009, when Sarsynski took over from long-time head Fred Castellani, significantly increasing AUM and focusing on mid- and large-market advisor-sold DC and DB plans. O’Toole took over as head of sales almost immediately after Sarsynski’s arrival, helping boost sales and relationships with distribution partners. The company is well positioned for the future, with the successful acquisition and integration of The Hartford giving them an important foothold in the small DC market.
