Benefits industry newsmakers: Aegon, Consero Global, HealthEquity, AIG, Prepare Benefits

News from Ascensus, CUNA Mutual Group, U.S. Dept. of Labor, Mercer Global Advisors, MetLife Investment Management, OpenComp, Quantum Health, CongruityHR, Sontiq, RFE Investment Partners

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News of mergers and acquisitions, partnerships and more keep everyone in the employee benefits and retirement industry on their toes. Interesting new hires, too. Here’s some of what’s happening this spring:

Sontiq acquired data breach intelligence fintech Breach Clarity. Breach Clarity cofounder Jim Van Dyke, a data breach expert, will join Sontiq as SVP, Digital Financial Wellness, and cofounder Al Pascual, a financial crime expert, will join Sontiq as SVP, Data Breach Solutions.

Private equity firm RFE Investment Partners, partnering with Weave Growth, completed a recapitalization investment in Congruity HR, a PEO that provides HR outsourcing solutions to SMBs. The company will continue to operate as Congruity HR, led by founder Darrin Hunter. Mike Maseda has joined as executive chairman of parent company Congruity Group Inc.

Quantum Health has earned a 2021 Silver Stevie Award as Front-Line Customer Service Team of the Year from the Stevie Awards for Sales & Customer Service. The Stevie Awards recognize achievements by customer service teams, contact centers, business development and sales professionals worldwide. Quantum Health CEO and Founder Kara Trott received a Silver Stevie Award as Female Entrepreneur of the Year in both 2019 and 2020.

Prepare Benefits announced that Keith Mueller has joined the company as Managing Partner and Vice President of Sales. Mueller will focus on expanding the offerings for existing and new clients, and will also be tasked with developing and building new client relationships. Prior to joining Prepare Benefits, Mueller spent more than 20 years with Lincoln Financial Group, most recently as vice president.

OpenComp, a compensation management software provider, has announced a successful close of a $4.6 million seed round to support customer growth, led by TIME Ventures, the investment fund for Marc Benioff.

MetLife Investment Management (MIM), the institutional asset management business of MetLife, Inc. appointed Sara Queen as managing director and head of Real Estate Equity. Queen will oversee MetLife Investment Management’s $32.7 billion Real Estate Equity portfolio. She joins from Mapletree Investments, headquartered in Singapore, where she was head of the company’s North America business.

Mercer Global Advisors announced the acquisition of Epstein & White Financial LLC (and related entity Epstein & White Retirement Income Solutions, LLC) a wealth management firm located in San Diego, California. EWF was founded in 2013 by Brad White, CFP and serves approximately 1,300 clients with client assets of approximately $740 million. EWF has over 20 team members who will be joining the Mercer Advisors’ team.

The Department of Labor has launched a new website that provides key steps to help victims of unemployment fraud. It includes a government-verified directory with each state’s direct contact method(s) for reporting this type of unemployment fraud. A Spanish translation of the website is also available.

HealthEquity announced the acquisition of Luum, a technology platform for employee commute management, compliance and sustainability. This acquisition strengthens the HealthEquity commuter offering, delivering a toolset that combines integration with parking providers and IT integrations into HR and payroll systems.

CUNA Mutual Group announced it has a definitive agreement to acquire Assurant’s prearranged funeral insurance and final expense business in the U.S. and Canada, serving more than 2 million consumers – for approximately $1.3 billion. Assurant’s preneed business will operate with autonomy at its Rapid City, South Dakota location.

Consero Global LLC has acquired BridgeView CFO Solutions, a San Francisco-based finance and accounting, HR, and business management firm. The combined company will have more than 800 employees serving over 150 clients around the world. The acquisition expands Consero’s suite of solutions to include HR and payroll services for its existing client base of institutional backed companies.

Ascensus announced that it has acquired the book of business of ABV Advisors, a health & welfare Form 5500 preparation and plan document services business. Based in Carmel, Indiana, ABV Advisors is a benefit compliance advisory firm that serves brokers of employee benefit plans, financial advisors, professional employer organizations, and affinity associations.

AIG announced that Lisa M. Buckingham will join the company in the newly created role of Executive Vice President, Global Head of AIG Enterprise Design and Life & Retirement Separation Initiatives. Buckingham will report to President and Chief Executive Officer, Peter Zaffino. Buckingham has more than 30 years of corporate management experience and joins AIG from Lincoln Financial Group where she served as Executive Vice President and Chief People, Place and Brand Officer. In 2018, Buckingham was elected a Fellow of the National Academy of Human Resources (NAHR).

Aegon announced that Will Fuller succeeds Mark Mullin as President and CEO of Transamerica, and as a member of the Management Board of Aegon N.V. Fuller was Executive Vice President of Lincoln Group. Mullin will become the new Chairman of the Transamerica Corporation Board of Directors, succeeding Don Shepard, who has retired.

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