SPRINGFIELD, Mass.--(BUSINESS WIRE)--Massachusetts Mutual Life Insurance Company (MassMutual) today announced that MassMutual veterans Paul LaPiana and Dominic Blue will join the company’s Executive Leadership Team and take on expanded leadership roles, reporting to Roger Crandall, MassMutual Chairman, President and CEO. The promotions, which are effective June 1, 2023, come as Mike Fanning, Head of MassMutual U.S., heads into retirement after 17 years with the company.
LaPiana will serve as Head of Brand, Product and Affiliated Distribution, assuming oversight of MassMutual’s core distribution channel, MassMutual Financial Advisors (MMFA), while also managing the company’s portfolio of wealth management and protection products and solutions to ensure they meet a broad range of customer needs. He will also gain responsibility for oversight of the company’s brand and marketing strategy.
Blue will take on the role of 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, focused on innovative ways to reach more people with the financial solutions they need. In addition, Blue will become CEO of MassMutual Ascend, while Mark Muething continues in his role as President of the highly respected leader in the annuity market.
“Paul and Dominic each bring broad leadership experience in areas critical to MassMutual’s growth, an unrelenting focus on delivering long-term financial security and value to our policyowners, and a collaborative, inclusive approach to executing our strategy,” said Crandall. “Now, as part of MassMutual’s Executive Leadership Team, they will bring all of those qualities to bear as we accelerate our efforts to help more people secure their future and protect the ones they love.”
LaPiana has more than 20 years of experience in the financial services industry and has served as Head of Product for MassMutual since 2019. He has been with MassMutual since 2016, having joined the company from MetLife following its acquisition of the MetLife Premier Client Group. He began his career as a financial professional with AXA/Equitable.
Blue most recently served as Head of Third-Party and Direct-to-Consumer for MassMutual. He first joined MassMutual as Assistant General Counsel in 2011 and brings his broad range of experience in former roles as Head of Corporate Law, Head of Workplace Transformation, and Head of Strategic Planning and Delivery to his new position.
LaPiana and Blue’s appointments follow Mike Fanning’s decision to retire from MassMutual after a distinguished 37-year career devoted to the financial services industry – nearly half of which was spent with MassMutual.
During Fanning’s tenure as head of MassMutual’s domestic insurance business, the company more than doubled its protection in force to $950 billion1 while paying more than $65 billion in benefits,2 became one of the top providers of whole life insurance,3 and delivered enduring policyowner value, paying an industry-leading dividend interest rate for 17 consecutive years.4 Under Fanning’s watch, MassMutual also dramatically expanded its network of affiliated financial professionals, became one of the top annuity providers in the U.S., divested its retirement plan business to contribute to the company’s financial flexibility, and enhanced and expanded its suite of protection and wealth management solutions as well as digital enablement to meet customers’ needs.
“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 continued. “Mike led an unprecedented period of growth and change for the company, all of which was spent ensuring that each day, MassMutual’s policyowners were at the center of everything we do. This will be Mike’s most enduring legacy, and we wish him all the best in a well-deserved retirement.”
About MassMutual
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.com.
_____________________________
1 As of December 31, 2022.
2 Represents cumulative consolidated life insurance and annuity benefits paid to policyowners and customers by Massachusetts Mutual Life Insurance Company, C.M. Life Insurance Company and MML Bay State Life Insurance Company between 2008 – 2022.
3 According to LIMRA’s Fourth Quarter 2022 U.S. Retail Individual Life Insurance Sales Report.
4 The dividend and dividend interest rate are determined annually, subject to change and are not guaranteed.
