MassMutual announced Tuesday that long-serving executives Paul LaPiana and Dominic Blue are being elevated to the company’s executive leadership team, while Mike Fanning, head of MassMutual U.S., heads into retirement after 17 years with the financial services company.
LaPiana and Blue will report to Roger Crandall, the company's chairman, president and CEO.
Effective June 1, LaPiana will serve as head of brand, product and affiliated distribution, assuming oversight of MassMutual’s core distribution channel, MassMutual Financial Advisors. LaPiana will also oversee the company’s portfolio of wealth management and protection products, as well as its marketing strategy.
LaPiana has served as head of product for MassMutual since 2019, having joined the firm in 2016 from MetLife.
Meanwhile, Blue was tapped to be the firm’s head of third-party distribution and new markets, leading an organization that includes the company’s third-party, worksite, direct-to-consumer and new markets efforts. Blue will also become CEO of MassMutual Ascend, while Mark Muething continues in his role as president of the annuity division.
Blue most recently served as head of third-party and direct-to-consumer for MassMutual. He joined the company as assistant general counsel in 2011.
“As we welcome Paul and Dominic to our Executive Leadership Team, we also express our deepest gratitude to Mike for his lasting contributions that have helped MassMutual become the industry leader that it is today,” Crandall said in the statement.
Under Fanning’s watch, MassMutual expanded its affiliated financial professional network, grew into one of the top annuity providers in the U.S., divested its retirement plan business and expanded its suite of protection and wealth management solutions.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
