MassMutual prepares for a leadership transition as its CFO retires and new executives join. Credit: Tada Images/Shutterstock.

MassMutual has appointed Mary Jane (MJ) Fortin as its new chief financial officer (CFO), effective from 1 January 2025. 

Fortin joined the company as the Executive Leadership Team member. 

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Current CFO Betsy Ward is set to retire at the end of the year after a 30-year tenure.

Fortin brings experience from Thrivent Financial, where she was president and chief commercial officer. Her background includes leadership roles at Allstate Financial, AIG, the Hartford and PwC.  

Additionally, the company appointed Vy Ho as chief actuary, bringing nearly three decades of industry expertise to MassMutual, including a four-year stint within the company. 

Before MassMutual, Ho’s career spanned 15 years at Prudential Financial in various actuarial capacities, culminating in his role as vice-president and actuary. A University of Connecticut alumnus, Ho is a Fellow of the Society of Actuaries and an American Academy of Actuaries member. 

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In April, the company announced a partnership with Insurify, aiming to enhance its product offerings with property and casualty insurance solutions. This collaboration enables MassMutual’s financial professionals to utilise Insurify’s virtual insurance platform to better serve their clients. 

MassMutual chairman, CEO and president Roger Crandall said: “Betsy has played a key role in leading MassMutual through periods of unprecedented growth, serving as a driving force across multiple transformative transactions to help deliver long-term value to our policyowners – all while the company reached record levels of capital and maintained excellent financial strength and flexibility.  

“We thank Betsy for her decades of service to our company and the significant contributions she has made to MassMutual’s success and wish her all the best as she prepares for retirement. 

“With more than 35 years of experience in the financial services industry, a strong track record of leading organizations through change, and establishing and driving innovative growth strategies, I am confident in MJ’s ability to build upon our reputation for outstanding financial strength and capital management.”