RolloverSystems Taps new CEO/President

March 28, 2007 (PLANSPONSOR.com) - Charlotte, NC-based RolloverSystems has tapped J. Spencer Williams as President and Chief Executive Officer, effective in mid-April.

Williams, who succeeds Lisa Pickrum, Chief Operating Officer of The RLJ Companies, and a member of the RolloverSystems Board of Directors, most recently served as senior vice president, Income Management Group, MassMutual. Pickrum was named interim CEO of RolloverSystems in January 2007 after the departure of Reginald Bowser. The RLJ Companies has been an investor in RolloverSystems since 2005.

In his new role, Mr. Williams will lead RolloverSystems’ efforts in delivering superior service while forging new partnerships with a diverse set of clients in the rollover and retirement industry, according to a press release.

“The members of the board are looking for a CEO who understands the need for the company to drive towards an industry standard that takes into account the complexities of the rollover services market, including the varied stakeholders who touch the end participant in the process,” said Robert L. Johnson, CEO and Chairman of The RLJ Companies and majority owner of the NBA Charlotte Bobcats. “Spencer’s experience makes him well-suited to this role. In addition, he is a seasoned executive who understands the strategy and process needed for RolloverSystems to grow to its full potential.”

Prior to joining RolloverSystems Williams served in various executive management roles within several divisions of MassMutual including Life Sales & Marketing and MassMutual’s Retirement Services Group.

Williams was also at one time CEO of Persumma Financial, LLC, a MassMutual Financial Group company formed to provide a new generation of services to the 401(k) market – basically empowering participants to design their own retirement plan with minimal involvement with the plan sponsor – though that effort was eventually shuttered (see Eenie, Meenie… ).

«