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Fortune 500 Executive Profiles
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• Crandall is Chairman, President and Chief Executive Officer of Massachusetts Mutual Life Insurance Company (MassMutual), a leading mutual life insurance company with 1,800 offices and 13 million clients worldwide. He’s been at MassMutual for more than two decades. He joined the company in 1988 as an Analyst and over the next 12 years held various positions in the company’s Investment Management Department. He joined MassMutual affiliate Babson Capital Management in 2000 and for the next five years worked there as Managing Director and Head at the firm’s Corporate Bond Management, Public Bond Trading and Institutional Fixed Income units. He was responsible for overseeing all corporate credit-related investments, including public and private bonds, bank loans, European bank loans, mezzanine and private equity investments, and structured credit products.. In 2005, he was appointed Executive Vice President and Chief Investment Officer of MassMutual while also serving as Chairman of Babson Capital Management. Two years later, he was elevated to Co-Chief Operating Officer of MassMutual. In this role he was accountable for Babson Capital and two other MassMutual subsidiaries - Cornerstone Real Estate Advisers LLC and Baring Asset Management Limited - as well as MassMutual’s Retirement Services, Retirement Income and Financial Products businesses. In 2008, he was appointed President and Chief Operating Officer of MassMutual, gaining oversight of the company’s domestic insurance business - which includes the company’s core product, whole life insurance - as well as its Enterprise Technology Organization and MassMutual International LLC. Crandall was named Chairman, President and Chief Executive Officer in 2010. His strategy is to diversify and expand the company’s ranks of agents selling whole life insurance while further penetrating Asian-American, Latino and African-American U.S. households.
Personal Attributes and Interests
• Crandall’s compensation received a slight bump to $12.2 million in 2016 as the financial services giant broke records for life insurance and retirement plan sales, the Boston Business Journal reported in March 2017. Crandall’s pay rose by 3.4% from the previous year, mostly on the back of a larger bonus, according to a disclosure statement. He received a bonus of $2.46 million, compared with $1.54 million in 2015. His base salary remained $1 million.
• Crandall’s father was a MassMutual salesman for more than 30 years. He went to work with his father on Saturdays and would stuff envelopes for a penny apiece and build spreadsheets using VisiCalc. He entered data that would allow his father to calculate premiums quickly for prospective clients. His wonkish side hasn’t ebbed since then. He once said, "I find it therapeutic to read a balance sheet and to read analysts’ reports. I was never an insurance guy, per se."
Executive Summary
Roger William Crandall
• Chairman, President and CEO
• Massachusetts Mutual Life Insurance Company
Contact Information:
1295 State St. Springfield, MA, 01111-0001 United States
Other News and Interviews:
How MassMutual plans to
grow (Sept 2016 video, CNBC)
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