OneAmerica has completed the acquisition of City National Bank's retirement services record keeping business. Business operations will remain in San Diego. Terms of the agreement, announced in June, were not disclosed.
The acquisition follows 13% year-over-year sales growth (as of midyear) by the retirement services division of the companies of OneAmerica, as well as four consecutive years of record-breaking results for the enterprise. Combined, OneAmerica's retirement services businesses now serve more than 11,000 plans with more than 600,000 participants, and hold more than $30 billion in DC assets under administration.
Gene Berry Promoted to SVP
Separately, OneAmerica recently announced that Gene Berry has been promoted to senior vice president. As chief information officer, Berry, who joined the company in April of 2010, set the overall vision and strategy for OneAmerica technology division. A 30-year industry veteran, Berry previously served in roles at Alcoa Aluminum, Fremont Life Insurance Company and Shenandoah Life Insurance.
