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Staffing Needs Sarsynski added that the office locations for the two businesses are also complementary - both have plan administration offices in Connecticut and adviser-support offices in Boston. MassMutual is thrilled about acquiring The Hartford’s call center in Phoenix because it wanted a presence in that time zone, she said. For now, MassMutual plans to keep all locations. However, O’Toole said between now and the close of the transaction, company leaders will be working together to determine what is appropriate for the future. As for new business, O’Toole stated the two companies are legally required between signing and close to remain two separate competitors, so both organizations have been told to compete and serve employees well. Legally, advisers should not speak about the combined corporation before close and approval by regulators. O’Toole believes the market will understand that anything sold under The Hartford, after close, will be backed by full faith and credit of MassMutual. Sarsynski said they are calling the transaction a win to the fifth power because all constituents the companies work with will have enhanced products and services. Feedback from advisers, TPAs and sponsors has been very positive, she said. According to Sarsynski, employees are thrilled with the opportunities this offers, and communities in which the firms have a local presence will be well-served.
Staffing Needs
Sarsynski added that the office locations for the two businesses are also complementary - both have plan administration offices in Connecticut and adviser-support offices in Boston. MassMutual is thrilled about acquiring The Hartford’s call center in Phoenix because it wanted a presence in that time zone, she said.
For now, MassMutual plans to keep all locations. However, O’Toole said between now and the close of the transaction, company leaders will be working together to determine what is appropriate for the future.
As for new business, O’Toole stated the two companies are legally required between signing and close to remain two separate competitors, so both organizations have been told to compete and serve employees well. Legally, advisers should not speak about the combined corporation before close and approval by regulators. O’Toole believes the market will understand that anything sold under The Hartford, after close, will be backed by full faith and credit of MassMutual.
Sarsynski said they are calling the transaction a win to the fifth power because all constituents the companies work with will have enhanced products and services. Feedback from advisers, TPAs and sponsors has been very positive, she said.
According to Sarsynski, employees are thrilled with the opportunities this offers, and communities in which the firms have a local presence will be well-served.
Rebecca Mooreeditors@plansponsor.com