To manage the strategy to grow share of pension marketplace
SPRINGFIELD, Mass., Jan. 27, 2020 – Massachusetts Mutual Life Insurance Company (MassMutual) has appointed Karen McColl to lead its Defined Benefit (DB) business. She reports to Keith McDonagh, Head of Institutional Solutions.
“Karen has broad experience in the institutional financial services industry, leading the growth and development of several investment management businesses,” McDonagh said. “We’re excited to have a leader of such depth running a growth business for MassMutual.”
During the past few years, MassMutual has introduced several innovative services and capabilities for pension plan sponsors and their participants. Those initiatives include a new, expanded and more flexible investment platform designed specifically for DB plans; the PensionSmart Analysis tool, which provides insights into the health of an employer’s plan; and customized yield curves to help plan sponsors value their pension obligations in a more informed way.
McDonagh said McColl’s investment management background will help MassMutual further expand its capabilities in the DB marketplace. McColl most recently was Head of Investment Management for MassMutual’s MML Investors Services where she led the establishment of an ecosystem of investment resources, tools and solutions across advisory platforms with $45 billion in assets. Previously, she held senior management positions at Fidelity Investments, Evergreen Investments and Columbia Management.
McColl earned her MBA from the Massachusetts Institute of Technology, Sloan School of Management, and her BA from Boston University. She is a Chartered Financial Analyst and holds FINRA Series 7, 24, 26 and 63 licenses.
“MassMutual sees great opportunity in the defined benefit marketplace as employers look for expertise and experience in managing and meeting their pension obligations,” McDonagh said. “Karen’s background will help grow our defined benefit capabilities in serving plan sponsors, plan participants and financial advisors.”
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. MassMutual offers a wide range of financial products and services, including life insurance, disability income insurance, long term care insurance, annuities, retirement plans and other employee benefits. For more information, visit www.massmutual.com.