Montgomery will succeed Michael Reynolds, who has held the position since 1994, to run the retirement programs and services for more than 450 community banks nationwide in three divisions: the Financial Institutions Retirement Fund, the Financial Institutions Thrift Plan, and Pentegra Services, Inc. Collectively the trio is known as Pentegra Group and currently has approximately $3 billion in assets under management, according to a news release.
The new position falls in line with Montgomery’s previous posts. At CIGNA he was responsible for the development of both broker-sold and institutional sales for a suite of retirement products. Prior to his tenure at CIGNA, Montgomery was President and CEO of Prudential Institutional Retirement Services, overseeing the servicing of over 8,000 defined contribution plans nationwide.
Montgomery holds a BS in Accounting from the University of Tennessee in Knoxville and a MS in Management from Stanford University.