-- Ricardo Calderon, Yek Cheng assume prominent leadership roles
SPRINGFIELD, Mass., April 24 /Xinhua-PRNewswire/ -- MassMutual International LLC, a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company (MassMutual), has announced several new senior leadership appointments, effective immediately. The announcement was made by Elaine A. Sarsynski, Executive Vice President and Chief Administrative Officer of MassMutual and President and CEO of MassMutual International, which is responsible for MassMutual's international life insurance and certain mutual fund subsidiaries.
-- Ricardo Calderon, most recently Vice President and Associate General
Counsel in MassMutual's Corporate Law Division, has been named Senior
Managing Director and Chief Operating Officer for MassMutual
International.
-- Yek Cheng, formerly with MassMutual Mercuries Life Insurance Co., Ltd.
In Taiwan, has been named Senior Managing Director and Chief Risk
Officer and Actuary for MassMutual International.
-- John Miller, Jr. was appointed Senior Managing Director and will
continue in his role as Chief Financial Officer.
"With more than $2 billion in sales and $4 billion in premium in the international insurance markets in 2006, MassMutual International plays a critical role in the MassMutual Financial Group's diverse portfolio of businesses, and provides a broad variety of products and services to help meet the financial needs of more than 1.7 million clients in Japan, Taiwan, Hong Kong and Europe," Ms. Sarsynski said. "With the appointments of both Rick and Yek, who with John Miller Jr., MassMutual International's Chief Financial Officer, comprise our leadership team, I am confident we have the strategy and talent in place to capitalize on the rapid growth in the international marketplace."
Ricardo Calderon. As Chief Operating Officer of MassMutual International, Mr. Calderon, 45, will be responsible for leading the organization's business development activities, expanding and developing new sales and distribution channels overseas as well as providing product development and marketing support. He will also have operational and information systems responsibilities.
Mr. Calderon has extensive knowledge of international markets, having spent a number of years in various international leadership positions both at MassMutual and Hartford Life. In his most recent role in MassMutual's Corporate Law Division, he was responsible for oversight of a broad array of regulatory and compliance matters for MassMutual. Mr. Calderon holds a B.A. from SUNY-Binghamton and received his J.D. from the University of Pennsylvania.
Yek Cheng. In his new role, Mr. Cheng, 56, primarily will be responsible for risk management at MassMutual International. Mr. Cheng joined MassMutual in 1982 after working at United Insurance Company of America.
During his tenure at MassMutual, Mr. Cheng has held increasingly responsible management positions and most recently served as Senior Vice President and Chief Financial Officer of MassMutual Mercuries Life Insurance Co., Ltd., in Taiwan. He holds a B.S. degree in Electrical Engineering from the University of the Philippines and an M.A. in Mathematics from Eastern Michigan University. He is a Fellow of the Society of Actuaries.
MassMutual International offers life insurance, health benefits and accident insurance, annuity and pension products, and asset management products and services across Asia and Europe.
MassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries. Securities and investment advisory services offered through MML Investors Services, Inc., a broker-dealer and registered investment advisor.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., member NASD and SiPC (www.nasd.org and www.sipc.org); MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at http://www.massmutual.com .
