The Retirement Services Division of MassMutual, Springfield, Mass., was named Retirement Leader of the Year at the 19th Annual Mutual Fund Industry Awards in New York City April 5.
Mutual Fund Industry Awards are presented annually to leaders from across the industry distinguished for their excellence, achievements, innovation and contributions over the previous year. Retirement Leader of the Year is awarded to a firm that has made a key impact on growing retirement assets with unique retirement solutions, advertising/marketing campaigns and significant contributions to the retirement industry at large.
MassMutual was selected as the winner by the editors of Fund Industry Intelligence, a publication of Euromoney Institutional Investor focused on the mutual fund industry. Among award nominees, MassMutual was the only retirement services provider to be nominated for the second consecutive year. The nomination was based on MassMutual’s record sales success, action-oriented participant education, innovative PlanSmart Analysis tool, top advisor loyalty ratings and award-winning trade print and video advertising, among other criteria.
In other industry news:
What Your Peers Are Reading
J.P. Morgan’s Global Trade business, New York, N.Y., won 20 awards for leadership throughout the past 12 months. The industry publications honoring the firm are CFO World Magazine, FinanceAsia, Global Trade Review, The Asset, Trade & Forfaiting Review, Trade Finance and Treasury Management International.
Readers of Trade & Forfaiting Review named J.P. Morgan Best Trade Bank in the World for the second consecutive year and also bestowed three additional awards upon the firm, including Most Innovative Trade Bank. J.P. Morgan also won its second consecutive Best Supply Chain Bank Leaders in Trade award from Global Trade Review.
Additional honors – from FinanceAsia, Global Trade Review, The Asset, Trade & Forfaiting Review and Trade Finance – came in the form of 11 Deal of the Year 2011 awards for transactions in sectors ranging from transportation and manufacturing to communications in countries that include India, Brazil, the United States and Korea. J.P. Morgan’s structured receivables solution for Reliance Industries was recognized five times for providing the flexibility to purchase or sell a particular receivable in light of prevailing market conditions.
Ariel Holdings, Hamilton, Bermuda, completed the sale of its Bermuda-based insurance and reinsurance operations to Goldman Sachs Group, Inc., New York, N.Y. (NYSE: GS), pursuant to the acquisition agreement announced March 1. The purchase price of the transaction was not disclosed.
The acquired business is being combined with Goldman Sachs’ existing business underwritten through Lloyd’s Syndicate 1910 and will operate as part of Goldman Sachs Reinsurance Group under the brand name of Ariel Reinsurance, or Ariel Re.