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MassMutual Promotes Two Co-Chief Operating Officers

Massachusetts Mutual Life Insurance Company (Springfield, Mass.) has promoted its two co-chief operating officers.

Roger Crandall, who is also executive vice president and chief investment officer, will become president of MassMutual. He will assume the position from Stuart Reese, who remains chairman and chief executive officer. Crandall will become sole chief operating officer and join the firm's board of directors. His former role of EVP and chief investment officer will be assumed by Thomas Finke, who also will take on Crandall's title as chairman and CEO of MassMutual subsidiary Babson Capital Management LLC. These appointments are effective Dec. 1, 2008.

In addition, William Glavin Jr., who is co-chief operating officer and executive vice president, U.S. Insurance Group, MassMutual, has been appointed CEO of OppenheimerFunds, Inc., effective Jan. 1, 2009. In that role, he succeeds John Murphy, who will remain as chairman of OppenheimerFunds until his retirement at the end of 2009. Succeeding Glavin as EVP and head of MassMutual's U.S. Insurance Group will be Michael Fanning, who is currently the group's senior vice president and chief operating officer. Fanning's appointment is effective Dec. 1, 2008, and he will report directly to Crandall.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio

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