Empower: Casey Craig to Lead Large, Mega and Not-for-Profit Segment
June 20 2024 - 8:00AM
Business Wire
Craig will succeed ‘legendary’ Bill
McDermott, who retires July 1
Empower announced today that Casey Craig has been appointed
executive vice president of Empower’s Large, Mega and
Not-for-Profit (LMN) segment.
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Casey Craig to lead Empower's Large, Mega
and Not-for-Profit segment (Photo: Business Wire)
Craig joined Empower in 2009 as a Regional Sales Director and
has most recently been leading the LMN sales organization,
consultant relations, as well as participant engagement and
communication.
He replaces Bill McDermott, who will be retiring July 1.
The LMN segment consists of more than 1,600 plan sponsor clients
on behalf of whom Empower administers $824 billion in assets and
serves nearly 8 million retirement plan participants. For corporate
clients, Empower defines “large” and “mega” as clients who have
retirement plan assets over $75 million. The LMN segment serves
not-for-profit clients of all sizes, including healthcare,
religious and non-governmental organizations.
“We have seen terrific developments in our LMN segment under
Bill’s leadership, and Casey is a leader who will help Empower
continue that legacy,” said Edmund F. Murphy III, president and
chief executive officer for Empower. “Casey has proven himself with
the customer focus he has on his team, and his experience will be
invaluable as we help our clients create the state-of-the-art
retirement plans they need for their employees.”
“Casey has deep experience working across the marketplace with
consultants, advisors and plan sponsors,” said Rich Linton,
president and chief operating officer for Empower. “He brings a
wealth of industry expertise and an outstanding track record of
advocating for client service. He has impressive instincts on how
to help clients build the retirement plans they need for their
employees.”
Craig’s new role will begin on July 1, and he will report to
Linton.
Prior to joining Empower, Craig was with Fidelity Investments,
where he held account executive and sales leadership roles in their
Institutional 401(k) business. Before Fidelity, Craig was with the
Boston Celtics as director of sales and marketing.
Craig graduated from Juniata College and received his master’s
degree from West Virginia University. He is an active member of his
community, volunteering his time to the Laurel Highlands Foundation
and the Westmont Hilltop School District. He is also a member of
the veterans business resource group (Voice of Experience Through
Services (VETS)) at Empower.
A legend moves on
McDermott is a 30-year veteran in the benefits and retirement
industry and joined Empower in 2012 as part of the J.P. Morgan
Retirement Plan Services business acquired by Empower. Previously,
McDermott held leadership roles at Goldman Sachs, Fidelity, AXA
Equitable (now Equitable Holdings, Inc.) and Hewitt Associates (now
Aon Hewitt).
“Bill’s contributions have been legendary as he has been an
integral part of delivering modern retirement services to millions
of people. We all wish him the best as he prepares for a
well-deserved retirement,” Murphy said.
“Bill is going to be greatly missed by his clients, his team and
everyone at Empower,” said Linton. “His personality, his warmth and
his sense of humor are well-known across the industry. He has led
and grown this segment with countless successes, and we are
grateful to the commitment he made to Empower.”
ABOUT EMPOWER
Recognized as the second-largest retirement services provider in
the U.S.1 by total participants, Empower administers approximately
$1.6 trillion in assets for more than 18.6 million investors2
through the provision of retirement plans, advice, wealth
management and investments. Connect with us on empower.com,
Facebook, X, LinkedIn, TikTok and Instagram.
1 Pensions & Investments DC Recordkeeper Survey (2023).
Ranking measured by total number of participants as of September
2022.
2 As of March 31, 2024. Assets under Administration (AUA) refers
to the assets administered by Empower. AUA does not reflect the
financial stability or strength of a company.
Empower refers to the products and services offered by Empower
Annuity Insurance Company of America and its subsidiaries.
“EMPOWER” and all associated logos and product names are trademarks
of Empower Annuity Insurance Company of America.
The information contained herein is being provided for
discussion purposes only and does not constitute an offer to sell,
or a solicitation of an offer to buy or sell securities. All
visuals are illustrative only.
“EMPOWER” and all associated logos and product names are
trademarks of Empower Annuity Insurance Company of America.
©2024 Empower Annuity Insurance Company of America. All rights
reserved. WF-3442700-0624 RO-3653354-0624
Learn more:
To learn more about how we’re empowering plan sponsors and their
participants to be more engaged in their retirement plans than ever
before, call us at 800-719-9914.
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Stephen Gawlik - Stephen.Gawlik@empower.com Mandy Cassano -
Mandy.Cassano@empower.com