The promotions happened in the wake of the retirement of Joseph Masterson, who was head of institutional sales and chief marketing officer.
“I’m excited about Jason and Pat taking on these new roles,” Stig Nybo, president of pension sales and distribution for Transamerica Retirement Solutions, told PLANSPONSOR. These changes are part of Transamerica “methodically creating what we want from a leadership team,” noted Nybo.
Crane, who has been with Transamerica for 12 years, will lead Transamerica’s sales efforts as head of sales across all retirement plan markets.“Jason is a student of the industry,” Nybo said, who “has brought tremendous success in the less than $20 million market.”
Advaney will serve as chief marketing officer for Transamerica’s retirement plans in all markets. She recently led the participant solutions effort and has been with the company for about 12 years.
Masterson retires from Transamerica after nearly 30 years with the organization. “Joe is a leader who set a really high standard,” Nybo said. “We thank him for his great work and contributions.”
Masterson spent many of his years working under the Diversified brand. Last year, it was announced that Transamerica Retirement Services and Diversified—both owned by parent Aegon—were going to move to one brand: Transamerica Retirement Solutions (see “Transamerica and Diversified to Combine Under One Name“).