Transamerica Hires Former Crump Life CEO
Robert Carney will head individual life and annuity distribution.
Transamerica has picked Robert Carney, a longtime Crump Life veteran, to oversee its retail life, annuity and mutual fund distribution operations.
Carney will be chief distribution officer for Transamerica’s individual solutions division.
Transamerica is the Baltimore-based U.S. arm of Aegon, a giant Dutch financial services company.
Transamerica alone has $404 billion in invested assets, 11 million customers and 12.5 million policies and contracts in force.
What it means: The hire might amplify Transamerica’s voice in efforts to shape the Labor Department’s fiduciary rule efforts and other financial services standards, because Carney is a board member at Finseca and is a member of its advocacy committee.
Carney’s background: Carney previously was chief executive officer of the life, retirement and benefits solution division at CRC Insurance Services, a big insurance broker that acquired Crump Life Insurance Services in 2012.
He may be better known for serving as an executive at Crump Life from 2004 through 2021 and as Crump Life’s CEO from 2021 through 2023.
Before that, he spent eight years in sales, marketing and product management roles at Prudential Financial.
He has a bachelor’s degree in economics from Rutgers and a master’s degree in business from Seton Hall University.
Robert Carney. Credit: Transamerica