Benefits industry newsmakers: Mercer Global Advisors, MetLife, OneDigital, SEC, Willis Towers Watson & more

In the employee benefits and retirement industry, deals, partnerships, promotions, new hires, and more, are happening daily. Here’s what we’ve seen:

Aon announced that it has entered into a definitive agreement to acquire CoverWallet, a digital insurance platform for small and medium-sized businesses. The transaction is expected to close during the first quarter of 2020, after which the CoverWallet organization will go to market as CoverWallet, an Aon company.

Holmes Murphy announced the launch of ethOs, which will focus on improving workplace culture, engagement with multi-generational staff, and addressing all aspects of an employee’s total wellbeing. It is led by Ali Payne, an organizational engagement/culture expert and award-winning thought leader with more than 20 years of experience.

The Employee Benefit Research Institute (EBRI) and the National Association of Government Defined Contribution Administrators (NAGDCA) are launching the Public Retirement Research Lab (PRRL), which will produce research and analysis based on actual participant behavior within public DC plans. The PRRL will begin work in 2020. Contacts interested in participating in the Public Retirement Research Lab should contact Lori Lucas at EBRI.

MassMutual appointed two new divisional vice presidents as part of reorganizing its distribution to support retirement plans in the emerging, mid- and institutional markets. The divisional vice presidents report to Bob Carroll, Head of Workplace Distribution, including two new hires from outside the organization:

•     Ryan Franken is the DVP for the Northeast Region and is located in Jersey City, NJ. With more than 13 years’ experience in the industry, Franken comes to MassMutual from Franken Lord, Abbett & Co. LLC.
•     Doug Grove is the DVP of the Central Region. Based in Chicago, Grove joins MassMutual from Principal Group and has more than 31 years of insurance and retirement distribution experience.

In addition to the new hires, MassMutual is realigning several existing Workplace Distribution leaders:

•    Mike Reilly is now DVP for Mid-Market Sales.
•    Brian Sweeney has been named DVP of Institutional, Government and Taft Hartley Sales. Sweeney will partner with Gina Golson-Nunery, who heads client management in the institutional marketplace.
•     Doug Denigris is DVP of Sales and Retention Solutions.
•     Bill Hicks is DVP of East Sales Operations.
•     Brian Robb is DVP of West Sales Operations.
•     Heather Stanley has been named Sales Consultant Manager.

The National Business Group on Health (NBGH) announced its President and Chief Executive Officer, Brian Marcotte, will retire on May 1, 2020 to spend more time with his family. Marcotte has been President and Chief Executive Officer since May 2014. The Business Group’s Board of Directors has appointed NBGH Chief Strategy Officer, Ellen Kelsay, to succeed Marcotte in both roles.

MetLife announced a definitive agreement to acquire Willing. Willing aims to help users create an estate plan quickly. Willing’s services will continue to be offered to consumers online and  plans are n place to make the services available to MetLife’s group customers.

Willis Towers Watson announced two leadership appointments for its Human Capital and Benefits business segment, promoting Mike Archer to lead its North American Retirement business and co-lead its global Retirement business, and Eric McMurray to lead its North American Health and Benefits (H&B) business and co-lead its global H&B business.

OneDigital appointed both John Carew and Robert Richards as Vice President of Corporate Development to support the rapidly growing acquisitions division of OneDigital, as the company expands into both additional geographic markets and adjacent businesses and solutions.

HMS announced it has signed a definitive agreement to acquire Accent, a payment accuracy and cost containment business from Intrado Corporation (f/k/a West Corporation).  Accent’s healthcare payer clients include large commercial health plans, Blue Cross and Blue Shield plans, and more.

The Securities and Exchange Commission announced the appointment of Robert A. Marchman as Senior Policy Advisor on Diversity and Inclusion. In this newly created role within the SEC’s Office of Minority and Women Inclusion (OMWI), Mr. Marchman will focus on working with Commission divisions, offices, and advisory committees to develop and implement strategies to promote diversity and inclusion, both within the SEC and through external engagement with agency partners and market participants.  He will officially join the SEC in January 2020.

Mercer Global Advisors announced the acquisition of SD Financial Pathways, LLC located in Dearborn, Michigan serving approximately 85 households with AUM of approximately $100MM.  The firm’s president and sole managing member, Steven Deceuninck, CFP, CFS, will be joining the Mercer Advisors’ team.