Sun Life Financial hires annuity exec from MassMutual

Stephen L. Deschenes has joined Sun Life Financial Inc.’s U.S. division as senior vice president and general manager of the company’s annuity unit — a new position — effective Monday.
Mr. Deschenes joins the Wellesley Hills, Mass.-based company from MassMutual Financial Group, where he was senior vice president and chief marketing officer for the insurer’s retirement income group.
His departure is the second major decampment from Springfield-based MassMutual recently.
Last month, industry veteran Jerome S. Golden, corporate vice president of the insurer’s retirement income group and president of the income management strategies division, retired.
Sun Life, on the other hand, has been adding executives to its annuity business since October, bringing on Westley V. Thompson, former president of retirement solutions at Radnor, Pa-based Lincoln National Corp., and Terrence J. Mullen, former chief executive of Lincoln Financial Distributors Inc. in Philadelphia.
Mr. Thompson is now president of Sun Life Financial U.S. and Mr. Mullen is president of Sun Life Financial Distributors Inc., also in Wellesley Hills.

Related Topics: Massachusetts Mutual Life Insurance Co., Sun Life Assurance Company Of Canada