NEW
YORK, July 18, 2024 /PRNewswire/ -- Mutual of
America Financial Group ("Mutual of America" or "the Company"),
which specializes in providing retirement services and investments
to organizations and individuals, today announced Stephen Rich, current Chairman and CEO of Mutual
of America Capital Management ("Capital Management"), the
investment arm of Mutual of America Financial Group, has been
appointed Chairman of the Board, Chief Executive Officer (CEO) and
member of the Board, effective immediately. Rich succeeds John
Greed.
"Stephen brings extensive leadership and industry experience,
and a dynamic vision to lead the Company into this next chapter,"
said Wayne Frederick, lead
independent director of the Mutual of America Board of Directors. "We have full
confidence in Stephen and the senior leadership team to further
establish Mutual of America as the country's premier retirement
provider."
Rich has over 33 years of financial services experience and
prior to joining Capital Management, held various leadership
positions across equity departments at JP Morgan Investment
Management. At Capital Management, Rich successfully grew the
organization to $29 billion in assets
under management.
"I am honored to be named Chairman of the Board and CEO of
Mutual of America," said Rich. "I've spent more than 20 years at
the company, working closely with our Board of Directors, and I
look forward to partnering with our talented team to strengthen the
business, provide dedicated service to our valued clients and
deliver on our mission to help individuals save for a financially
secure future."
Joseph R. Gaffoglio, current
President, will assume the role of CEO of Mutual of America Capital
Management. With more than 29 years of investment experience,
Gaffoglio oversees management of the MoA Funds Asset Allocation and
Clear Passage Funds, as well as the large cap portions of the MoA
Balanced Fund.
Stephen Rich Biographical Details
Stephen Rich has over 33 years of investment
management experience and prior to joining Capital Management,
served as Vice President at JP Morgan Investment Management,
holding leadership roles in the Large Cap Structured Equity and the
Small Cap Active Management groups. From 1999 to 2001, he served as
Director, Senior Portfolio Manager, at Citigroup Asset Management.
In 2001, Rich rejoined JP Morgan Investment Management as Vice
President, Senior Portfolio Manager, responsible for the Active
Small Cap Value Group, until he joined Capital Management in 2004.
Rich is a graduate of Princeton
University and has an MBA from New York
University's Stern School of Business.
Joseph R. Gaffoglio Biographical
Details
Joseph
Gaffoglio joined Capital Management in 2005 and has 29 years
of investment experience. Prior to joining Capital Management, he
worked as an Associate Quantitative Analyst at Prudential Equity
Group, LLC, and as a Senior Associate at PwC. Gaffoglio is
responsible for management of the MoA Funds Asset Allocation and
Clear Passage Funds, as well as the large cap portions of the MoA
Balanced Fund. Gaffoglio is a graduate of Fordham University. He has an MBA from New York University's Stern School of Business and
holds the designations of Chartered Financial Analyst and Certified
Public Accountant. He is also a member of the CFA Society of
New York and the CFA
Institute.
About Mutual of America Financial Group
Mutual of America Financial Group is the trade name used by Mutual
of America, a leading provider of retirement services and
investments to employers, employees and individuals. We provide
high-quality, innovative products and services at a competitive
price, along with outstanding personalized service, to help our
customers build and preserve assets for a financially secure
future. Our mission is built upon our values—integrity, prudence,
reliability, excellence and social responsibility—which have guided
us since 1945 and continue to serve us and our customers well. For
more information, visit mutualofamerica.com, and connect with
us via Facebook and LinkedIn.
About Mutual of America Capital Management LLC
Formed
in 1993, Capital Management is an SEC-registered investment adviser
and an indirect, wholly owned subsidiary of Mutual of America Life
Insurance Company, focused on serving the growing investment needs
of institutional clients. Today, Capital Management manages
approximately $28 billion, and offers
28 funds with an array of asset classes and objectives, including
equity, fixed income, international, asset allocation and
target-date funds.
Contact
Edelman
Smithfield
MutualofAmerica@edelmansmithfield.com
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SOURCE Mutual of America Financial Group