April 15, 2016 – Great-West Investments is a newly created organization within Great-West Financial. Great-West Financial announced the appointment of David L. Musto as the president of Great-West Investments, a newly created organization within Great-West Financial that will be the primary driver of investment and retirement income solutions for retirement savers, plan sponsors and their advisers.
In this role, Musto will report to Great-West Financial President and CEO Robert L. Reynolds and have responsibility for Great-West Financial subsidiaries including: Great-West Funds, Inc., Great-West Capital Management, LLC and Advised Assets Group, LLC—the latter two are registered investment advisers. He will also assume business leadership of the company’s general account, stable value and the retirement income solutions that are offered into the retirement market.
Reynolds explained to PLANSPONSOR, “There were pieces throughout the organization, and the thought was to get someone of David’s caliber, background and experience to pull together all the pieces to create world-class solutions for customers. Looking outward, we can provide solutions to other providers, like individual markets, life insurance products, annuity products and retirement income products, while also servicing the plan sponsors community through Empower Retirement.” Empower is a division of Great-West Financial.
Musto takes the reins of Great-West Investments after leading the large, mega and not-for-profit unit for Empower Retirement as executive vice president. He previously served as CEO of J.P. Morgan Retirement Plan Services. Musto was also formerly a senior vice president at Prudential Retirement, where he was responsible for the full-service retirement offering in the emerging corporate market, including product development, distribution and service models.
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