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Daily News

SPRINGFIELD — MassMutual announced the appointment of Cindy Ryan to head of Human Resources. Ryan, who has more than two decades of HR leadership experience, will oversee and advance MassMutual’s people strategy, aligned with the company’s purpose, priorities, and aspirations.

In this role, Ryan assumes oversight of MassMutual’s HR organization, which includes talent acquisition and management; total rewards; HR operations; employee relations; learning and development; and diversity, equity, and inclusion (DEI). She will be responsible for continuing to evolve the company’s flexible, inclusive culture, supporting the holistic well-being and growth of MassMutual’s employees and attracting and retaining a talented, diverse workforce.

“Cindy’s passion, expertise, and demonstrated track record of successfully leading global people strategies will be invaluable as we continue to build the dynamic organization needed to succeed in today’s ever-changing world,” said Roger Crandall, chairman, president, and CEO of MassMutual. “I look forward to her dedicated focus on developing and evolving our approach to build a highly engaged and effective workforce that will enable us to deliver on our ambitious strategy and fulfill our long-term commitments to our policy owners and customers.”

Ryan joins MassMutual after spending nearly 25 years in various leadership roles of growing responsibility at Cigna, where she most recently served as the company’s chief Human Resources officer (CHRO). In this role, she led Cigna’s worldwide enterprise talent strategy and pandemic response, built its award-winning DEI approach, and enriched its engaged culture. Prior to her CHRO role, she served as senior vice president of HR for Cigna’s U.S. business lines, where she was responsible for talent-management strategies, employee engagement, and leadership effectiveness for the company’s health, life, and disability services lines as well as serving as the company’s chief talent officer, overseeing recruiting, learning, leadership development, and employee relations worldwide.

“I’m excited to join a company with such a rich history that provides incredibly flexible, holistic programs to support and develop its employees,” Ryan said. “I look forward to building on the strong foundation that is in place to help shape MassMutual’s future workforce strategy.”

Ryan holds a bachelor’s degree in management from the State University of New York at Geneseo and a master’s degree in industrial and labor relations from Cornell University.

Daily News

SPRINGFIELD — MassMutual has been named a World’s Most Admired Company by Fortune magazine, placing second in the life- and health-insurance industry category and leading among mutual company peers.

Notably, MassMutual ranked first for innovation in its industry category, the fifth time in the past six years the company has received this honor. The company has been named to the Fortune World’s Most Admired Company list 20 times since 2000.

“We are delighted to be named a World’s Most Admired Company again this year and to be recognized as the most innovative company in our industry,” said Roger Crandall, chairman, president, and CEO. “Accolades like this demonstrate the talent and dedication of our employees and network of financial professionals who work hard each day to reach people on their terms and deliver holistic financial solutions that bring stability and security in an uncertain and rapidly changing world. While we are honored by this recognition, we’re especially proud of what it reflects: the progress we’re making toward helping millions more Americans secure their future and protect the ones they love.”

The 2023 Fortune World’s Most Admired Company survey was conducted in the fall of 2022 among executives, directors, and analysts in 52 industries. The annual poll assessed nine reputation drivers considered to be crucial to a company’s global success: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment value, quality of products/services, and global competitiveness. The full list of recognized companies and survey methodology can be found at fortune.com.

Daily News

SPRINGFIELD — A subsidiary of MassMutual has agreed to pay a $4 million fine to resolve accusations involving Keith Gill, the former employee who gained notoriety under the name “Roaring Kitty” on YouTube for his astronomical gains during the GameStop stock rally earlier this year, the Boston Globe reported.

MassMutual also agreed to overhaul its social-media policies to better detect whether its employees are in compliance with company rules on social media as part of an agreement with the office of Secretary of State William Galvin.

In an 18-page consent order signed on Tuesday, Galvin’s office portrayed MassMutual as repeatedly failing to detect Gill’s many social-media activities, including more than 250 hours of YouTube videos in which he detailed investment strategy.

Until his termination in January, Gill, a licensed broker-dealer, was responsible for creating educational material used by MassMutual as a marketing tool to attract new customers, the consent order says.

At the same time, Gill, in his spare time, used a half-dozen social-media platforms “almost exclusively” for “discussing, analyzing and promoting GameStop,” a brick-and-mortar video game, consumer electronics, and gaming merchandise retailer, the order says.

“Gill had gained tens of thousands of followers … and his social-media posts were oft-cited as a driving force behind the market volatility surrounding GameStop in late January,” the order continues.

MassMutual prohibits its broker-dealers from discussing generic securities and company business on social media. Gill made at least 590 security-related statements on Twitter, the order says.

According to the Globe, the secretary of state’s office also said MassMutual “failed to monitor or detect nearly 1,700 trades effected by Gill in the accounts of three other individuals,” an apparent violation of company rules, the order says.

In addition, the secretary of state’s office said MassMutual failed to detect that Gill made two transactions in amounts that exceeded the company’s limit of $250,000, the order says. Those two transactions totaled almost $1.5 million.

Galvin, in his office’s press release, noted that “MassMutual was not as diligent as it should have been in supervising its employees. It took the media less than a day to identify the person behind the Roaring Kitty posts, while his own employer took no notice of his online persona.”

Daily News

SPRINGFIELD — MassMutual is launching a new $50 million investment fund to support black-owned businesses across the state and tech startups outside of the metro Boston area, the Boston Globe reported.

The Springfield-based life insurer unveiled the MM Catalyst Fund on Thursday. MassMutual plans to divide the money evenly between the two groups: $25 million for equity and debt investments in black-owned or -managed businesses either based in Massachusetts or with significant operations here, and $25 million for equity investments in tech companies outside of metro Boston.

The fund will make investments ranging in size from $250,000 to $2.5 million over the next four to five years. The goal is to serve as a catalyst in less economically developed areas of the state. MassMutual portfolio manager Rilwan Meeran, who is based in Boston, will oversee the fund.

Wealth Management

Shared Expertise

Empower Retirement and Massachusetts Mutual Life Insurance Co. (MassMutual) announced they have entered into a definitive agreement for Empower to acquire the MassMutual retirement-plan business. The acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement-plan participants and their employers.

Based on the terms of the agreement and subject to regulatory approvals, Empower will acquire the retirement-plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

The MassMutual retirement-plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets. It also includes approximately 2,000 employees affiliated with MassMutual’s retirement-plan business who provide a full range of support services for financial professionals, plan sponsors, and participants.

“Empower is taking the next step toward addressing the complex and evolving needs of millions of workers and retirees through the combination of expertise, talent, and business scale being created,” said Edmund Murphy III, president and CEO of Empower Retirement. “Together, Empower and MassMutual connect a broad spectrum of strength and experience with a shared focus on the customer. We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement.”

“We believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our strategy.”

The transaction, expected to close in the fourth quarter of 2020 pending customary regulatory approvals, will increase Empower’s participant base to more than 12.2 million and retirement-services record-keeping assets to approximately $834 billion administered in approximately 67,000 workplace savings plans.

“In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement-plan business, and we believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our strategy,” said Roger Crandall, MassMutual chairman, president, and CEO. “This includes strengthening our leading position in the U.S. protection and accumulation industry by expanding our wealth-management and distribution capabilities; investing in our global asset-management, insurance, and institutional businesses; and delivering a seamless digital experience — all to help millions more secure their future and protect the ones they love.”

The MassMutual retirement-plan business has grown substantially over the past decade, with the number of participants served doubling to more than 2.5 million and assets under management more than quadrupling from $34 billion to more than $160 billion.

The combined firm will serve retirement plans sponsored by a broad spectrum of employers. These include mega, large, mid-size, and small corporate 401(k) plans; government plans ranging in scale from state-level plans to municipal agencies; not-for-profits such as hospital and religious-organization 403(b) plans; and collectively bargained Taft-Hartley plans. The transaction will also bring MassMutual’s defined-benefit business under the umbrella of plans Empower serves.

Empower and MassMutual intend to enter into a strategic partnership through which digital insurance products offered by Haven Life Insurance Agency, LLC3, and MassMutual’s voluntary insurance and lifetime income products will be made available to customers of Empower Retirement and Personal Capital.

Empower today administers $667 billion in assets on behalf of 9.7 million American workers and retirees through approximately 41,000 workplace savings plans. Empower provides retirement services, managed accounts, financial wellness, and investment solutions to plans of all types and sizes, including private-label record-keeping clients.

In August, Empower announced it had completed the acquisition of Personal Capital, a registered investment adviser and wealth manager. The Personal Capital platform offers personalized financial advice, financial planning, and goal setting, providing insights and tools for plan participants and individual investors. In addition, Empower’s retail business provides a suite of products and services to individual retirement-account and brokerage customers.

Daily News

SPRINGFIELD — Empower Retirement and Massachusetts Mutual Life Insurance Co. (MassMutual) announced they have entered into a definitive agreement for Empower to acquire the MassMutual retirement-plan business. The acquisition will capitalize on both firms’ expertise, provide technological excellence and deep product capabilities, and create scale to the benefit of retirement-plan participants and their employers.

Based on the terms of the agreement and subject to regulatory approvals, Empower will acquire the retirement-plan business of MassMutual in a reinsurance transaction for a ceding commission of $2.35 billion. In addition, the balance sheet of the transferred business would be supported by $1 billion of required capital when combined with Empower’s existing U.S. business.

The MassMutual retirement-plan business comprises 26,000 workplace savings plans through which approximately 2.5 million participants have saved $167 billion in assets. It also includes approximately 2,000 employees affiliated with MassMutual’s retirement-plan business who provide a full range of support services for financial professionals, plan sponsors, and participants.

“Empower is taking the next step toward addressing the complex and evolving needs of millions of workers and retirees through the combination of expertise, talent, and business scale being created,” said Edmund Murphy III, president and CEO of Empower Retirement. “Together, Empower and MassMutual connect a broad spectrum of strength and experience with a shared focus on the customer. We are excited about the opportunity to reach new customers and serve even more Americans on their journey toward creating a secure retirement.”

The transaction, expected to close in the fourth quarter of 2020 pending customary regulatory approvals, will increase Empower’s participant base to more than 12.2 million and retirement-services record-keeping assets to approximately $834 billion administered in approximately 67,000 workplace savings plans.

“In Empower, we are pleased to have found a strong, long-term home for MassMutual’s retirement-plan business, and believe this transaction will greatly benefit our policy owners and customers as we invest in our future growth and accelerate progress on our strategy,” said Roger Crandall, MassMutual chairman, president, and CEO. “This includes strengthening our leading position in the U.S. protection and accumulation industry by expanding our wealth-management and distribution capabilities; investing in our global asset-management, insurance, and institutional businesses; and delivering a seamless digital experience — all to help millions more secure their future and protect the ones they love.”

The combined firm will serve retirement plans sponsored by a broad spectrum of employers. These include mega, large, mid-size, and small corporate 401(k) plans; government plans ranging in scale from state-level plans to municipal agencies; not-for-profits such as hospital and religious-organization 403(b) plans; and collectively bargained Taft-Hartley plans. The transaction will also bring MassMutual’s defined-benefit business under the umbrella of plans Empower serves.

Empower and MassMutual intend to enter into a strategic partnership through which digital insurance products offered by Haven Life Insurance Agency, LLC3, and MassMutual’s voluntary insurance and lifetime income products will be made available to customers of Empower Retirement and Personal Capital.

Cover Story

Policy Shifts

Roger Crandall stops at State & Main in MassMutual’s headquarters building in Springfield.

Roger Crandall stops at State & Main in MassMutual’s headquarters building in Springfield.

Over the course of its 167-year history, MassMutual has successfully responded to changes in society and also in how business is conducted. Today, the pace of change has accelerated greatly, but the company is answering with new strategic initiatives involving everything from the design of workspaces to how individuals apply for life insurance.

They call it ‘State and Main.’

MassMutual built its former headquarters building in Springfield at that very intersection, so that may have something to do with that name. But it’s more likely a reference to the fact that this is where two of the main spines of the company’s sprawling current home on State Street come together. So that’s where many of the 4,000 people working there come together as well.

There’s a Starbucks there, as well as a small shop where people can get their electronic devices serviced, as well as a convenience store. Over the past 18 months or so, some small meeting places and workstations where people can plug in have been added in a nod to changes in how work is now done.

There is a row of these stations along one wall, which, coincidentally, was the old end point of the building before an addition was built. Where the windows once were, there are now photographs depicting work life at MassMutual decades ago.

If you’re looking for evidence of just how much things have changed, you can juxtapose a solitary worker on a laptop in one of these workspaces in front of a huge photo depicting row upon row of desks — an iconic glimpse of the workplace maybe a century ago (see photo above).

It took a long time to get from where things were in that photograph to where they are today, but the pace of change is rapidly accelerating — even when it comes to a product seemingly frozen in time, like life insurance.

While the basic insurance products haven’t changed much over time, how people research them, shop for them, and ultimately buy them have, said Roger Crandall, president and CEO of the Fortune 100 company, the only one based in the 413.

“We’re looking a lot at how to do business with people the way they want to do business,” he explained, adding that there is much that goes into this equation. “The single biggest thing that the technology revolution has done is give consumers the power to interact the way they want to interact.

“We can’t say, ‘you can only talk to us on the phone’; we can’t say, ‘you can only talk to us in person,’” he went on. “We have to be able to meet consumers where they want to be met, and that is what we call an omni-channel world.”

Responding to this new landscape is just one of the many organizational focal points for Crandall and MassMutual, with the emphasis on ‘many.’ Others include those aforementioned changes in the way people work, he told BusinessWest, adding that the company’s headquarters has seen a number of significant changes in response to trends involving more open spaces and the need to bring great minds together, not keep them apart.

As a result, there are far fewer of those large, private offices that once dominated large financial-services companies and often defined how high one had risen in the ranks, and much more of those open workspaces like those along State and Main.

A MassMutual employee gets some work done in front of an image that Roger Crandall calls “a look back in time.”

A MassMutual employee gets some work done in front of an image that Roger Crandall calls “a look back in time.”

These changes are taking place at all of MassMutual’s facilities, which leads to another of those focal points, a headline-generating consolidation and realignment of facilities that will see the company significantly increase its presence — on both ends of the Bay State.

Indeed, there will be $50 million in investments to the Springfield facility, with an estimated 1,500 more employees working there, many of them commuting to that facility instead of the one in Enfield, Conn., which is being closed.

Meanwhile, in Boston, MassMutual will build a new facility in the Seaport District that will be home to about 1,000 workers. The company will look to capitalize on the city’s emergence as a global leader and its already established ability to retain many of the young people who come there to be educated as a way to help attract and retain top talent for years to come.

Still another focal point for the company is Springfield and the region it serves as its unofficial capital, said Crandall, adding that, while the company’s commitment to the City of Homes has come into question — the sale of Tower Square triggered much of that speculation — he said it is as strong as ever, with involvement in everything from education and workforce development to entrepreneurship and new-business development.

Overall, the city has rebounded nicely from the financial turmoil of a decade or so ago, and the opening of MGM Springfield in a few months constitutes just one of many signs of progress, said Crandall, declaring that “Springfield has its mojo back.” (Much more on those thoughts later).

For this issue, BusinessWest caught up with Crandall for a wide-ranging interview that touched on everything from Springfield and its mojo to Boston and the latest addition to its business landscape, to all those changes at State and Main and what they mean for this 167-year-old company.

Space Exploration

That interview took place in Crandall’s spacious office on the second floor of its headquarters building. As he gestured toward his surroundings, Crandall, who has occupied them since 2010, admitted candidly that he wasn’t exactly sure what would become of them as MassMutual undertakes that realignment of its facilities to accommodate more employees and a changing workplace. He did know that it won’t look like it does now.

“This office is a dinosaur; no one would build an office like this in a new building,” he told BusinessWest. “This space may very well have 20 people in it when we’re all done — there’s plenty of room for 20 people in here in a modern configuration.”

He was more certain about many other things, especially the company’s changing footprint when it comes to facilities. It will be a smaller, more efficient footprint, he noted, one shaped to address a number of challenges and opportunities moving forward.

This change to the landscape has resulted from some seismic shifts over the past several years, especially a number of acquisitions — including Metlife’s retail advisor force, the Metlife Premier Client Group (MPCG) in the summer of 2016 — that left the company with a dispersed portfolio of facilities, and also changing technology, which, as noted, has altered everything from how people buy products to how they work.

These changes prompted the company to take a much-needed step back, said Crandall, before it could decide how to move forward.

“We said, ‘this is a good time to step back and say, ‘how is our geographic footprint aligned with what we’re trying to do from a long-term perspective?’” he recalled. “And that prompted us to take a look at a whole variety of options.”

Elaborating, he said recent acquisitions left the company with facilities in Charlotte, N.C., Memphis, Tenn., Phoenix, Ariz., Somerset, N.J., Amherst, and other locations. And while advancing technology allows people in remote offices to communicate effectively, consolidating those offices emerged as the option that made the most sense.

“Although people work in different ways and the ability to work remotely is greater than ever because of technology, it’s really important to have more people interacting with each other,” he explained, “to get the best ideas, the best execution, and to take advantage of the diversity our workforce has.

“It’s great to be able to connect through devices, but face-to-face meetings are really important,” he went on, noting that roughly 2,000 employees will be relocated to Massachusetts from locations in other states. “So we liked the idea of getting to a smaller footprint.”

That makes sense on other levels as well, he noted, adding that the company was really only using about 60% of its facilities in Springfield and 60% of its facilities in Enfield.

At the same time, the company has put an even greater emphasis on the broad issue of workforce development and the challenge of attracting and retaining top talent.

And this combination of factors prompted a long, hard look at Boston — a city that has drawn similar looks from a host of other major corporations — and then hard action.

“We thought about how to set ourselves up to attract the best and the brightest for the next 25 or 30 years,” said Crandall. “And that’s where having a location in Boston, which has really emerged as a global city in the last decade, came to the forefront.

“Boston has become a true world leader,” he went on. “It’s always been a world leader in education, and it’s become a world leader in medicine and life sciences, and it’s also a very significant financial center as well. People go to school there, and they want to stay there.”

But while MassMutual will build a new facility in Boston’s Seaport District at 1 Marina Park, it will maintain a strong presence at both ends of the state, said Crandall, adding that Springfield will remain the company’s home.

Once used as basketball courts, space on the fourth floor of MassMutual’s headquarters building is now dedicated to meeting spaces known collectively as the ‘tree rooms.’

Once used as basketball courts, space on the fourth floor of MassMutual’s headquarters building is now dedicated to meeting spaces known collectively as the ‘tree rooms.’

The fact that it is only 90 minutes away on the Turnpike from the Boston offices (traffic permitting) should bring a number of benefits, he noted.

“It’s very, very different running a company where people can drive back and forth, and running a company where you have to get on a plane,” he noted. “And from that culture perspective, that became important to us as well.”

Room for Improvement

As for the facilities in Springfield, Crandall told BusinessWest that what’s planned is a reconfiguration and not an expansion in the true sense of the word.

But more people will be working at that location — and turning up at State and Main for lattes, to have their phone repaired, to get their dry cleaning, and, increasingly, to get some work done as well.

As Crandall noted earlier, there will be fewer private offices moving forward and more open spaces where people can work and collaborate as the company strives to moves away from a historical hierarchy that has defined much of its history and that of other financial-services giants as well.

The company has already taken a number of significant steps in this direction, he went on, referencing rows of tables where people can work on laptops, spaces where a few people can gather and talk, and larger, technology-equipped meeting spaces, such as those now known simply as the ‘tree rooms.’

There’s ‘Birch,’ ‘Elm,’ ‘Maple,’ ‘Hemlock,’ and others. These are meeting facilities created on the fourth floor of the headquarters building — space devoted to basketball courts until 1980 and for less ornate (and modern) meeting spaces in recent years.

Meanwhile, there are more meeting spaces on the ground floor just off State and Main that, like the ones a few floors up, are always occupied and need to be booked well in advance. These rooms are named for national parks, and include ‘Yosemite,’ ‘Zion,’ ‘Everglades,’ and ‘Glacier.’

As for what’s going on in all those meeting rooms, Crandall said the company is focusing its efforts in many directions, including what he called “a digitization of everything we do.”

And that brings him back to that omni-channel world he mentioned and the need to meet consumers where they want to be met.

“We’re basically building a digital insurance company from scratch to disrupt ourselves,” he explained. “It’s going to give us the ability to be much more responsive to consumer demands, and have much lower costs, which will enable us take advantage of the next big opportunity, which is to broadly offer more Americans insurance.”

Elaborating, he said there are 35 million American families with no insurance at all, and insurance penetration in this country is among the lowest in the world. “When we go out and do focus groups and ask people if they need life insurance, 70% say ‘yes,’” he said. “And 50% of the people who have life insurance say they need more life insurance, so there is this big unmet need.”

There are many reasons for this, he said, including the fact that fewer people are working for the kinds of large companies that offer life insurance as a benefit, and more are working for smaller ventures that don’t, or are self-employed.

To meet that need, the company is responding proactively with products and processes that can put insurance within reach and bring the numbers from those surveys down.

“No normal person sits down and thinks about the process of buying life insurance,” he said. “But we took a look at that process a few years ago and determined that it was largely the same as it was in 1995, 1985, and, arguably, 1975 — a paper-based application that got sent through snail mail to an underwriter, which triggered a paramed going to someone’s house, and a process that begins with someone standing on a scale and goes downhill, from a consumer’s perspective, to 25 days later getting told you’re not the best risk class and you’re going to have to pay more for the product than you thought.”

To change that equation, the company’s data-science team began working with an accumulated asset — the applications taken for life insurance over the years — and built a machine-learning mortality-scoring model.

“That model, with the support of reinsurers, is being used to underwrite 75% of the policies MassMutual issues,” he went on, adding that this process often lowers the time required to get approval — down to one day for those who are younger and in good health — and brings down the cost of that insurance.

And this is just one example of this digitization process, which doubles as a growth strategy.

“What really matters to us in the long run is being able to have the talent we need to execute our mission,” Crandall explained, “to help people secure their future and protect the ones they love, and to continue the growth trajectory we’ve been on — we’re now the biggest seller of whole life insurance in the country and are the second-biggest seller of all life insurance in the country.”

Paying Dividends

As MassMutual continues to respond to a changing landscape for a wide range of business perspectives, it is doing the same when it comes to its work within the community and especially its home city of Springfield, said Crandall.

He noted that there have been many forms of progress in recent years, from new vibrancy downtown to the city’s much-improved fiscal health, to a better perception of the city across the state and even outside it.

Roger Crandall says MassMutual is essentially building a digital insurance company from scratch “to disrupt ourselves.”

Roger Crandall says MassMutual is essentially building a digital insurance company from scratch “to disrupt ourselves.”

“The vibe in Springfield is as positive as I’ve seen it in 30 years,” he said when asked to offer his assessment, adding quickly that there are many areas of need and concern, and MassMutual and its foundation are partnering with others to help address many of them.

Especially those in the broad realm of education.

Noting the importance of education to attaining a job in today’s technology-based economy, Crandall said MassMutual’s commitment to education takes many forms, from financial-literacy programs involving middle-schoolers to a $15 million commitment to help create a sustainable workforce in data science.

“We know that, in the long run, better educational outcomes are such a powerful way to change people’s trajectories in life,” he explained, adding that it starts with getting individuals not only through high school, but graduating with the skills they will need to thrive in this economy.

But the company’s commitment to the city and the region — what Crandall called ‘enabling philanthropy’ — encompasses many different aspects of economic development, he went on, listing, for example, its work with DevelopSpringfield to revitalize neighborhoods across the city, and its backing of Valley Venture Mentors ($2 million to date) and financing of startups that pledge to put down roots in the region.

There has also been support of workforce-development initiatives, such as a training center for call-center employees at Springfield Technical Community College and a similar initiative involving the precision-manufacturing sector.

Then there’s the company’s support of ROCA, the agency that works with incarcerated individuals, usually repeat offenders, to help them change the course of their life and succeed outside the prison walls.

“There is no greater waste of a person’s potential or, frankly, the economic potential of our community than having a large group of young men who are unemployable or in prison,” said Crandall. “When you talk to a young man who’s been in prison who’s now a member of the carpenter’s union, getting married and having a child, and buying a home … to think about where he is as opposed to when he was 18 — that’s inspiring.”

Overall, Crandall, deploying that word ‘mojo,’ said the city has not only many positive developments breaking its way, but also more confidence and self-esteem. Perhaps even more important — and those factors are significant in their own right — is the fact that those outside the city are sharing those sentiments.

To get that point across, he relayed a recent conversation he had while visiting one of the company’s agencies in Brooklyn, a borough that had more than its share of problems a generation ago but has morphed into one of the hottest communities in the country.

“I was talking to one of our agents, probably in his mid-30s, and he said, ‘I just invested in a property in Springfield, Massachusetts,’” he recalled, adding that he responded by asking why this individual wasn’t investing in Brooklyn instead. “He said, ‘I’ve done great here in Brooklyn, but Springfield reminds me of Brooklyn 20 years ago.”

Past Is Prologue

Referencing those pictures placed where the windows were on the old exterior wall of the State Street facility, Crandall said each image was designed to be “a look back in time.”

“It’s a pretty neat historical kind of twist that adds an interesting flair to that area,” he said, noting that looking back is much easier — and generally more fun — than trying to look forward, anticipate the future, and prepare for it.

But that’s just what MassMutual is doing, and those exercises define the many strategic initiatives at the company — everything from its soon-to-be-much-smaller geographic footprint to its efforts to meet customers when and how they want to be met, to philanthropic efforts within the community focused on everything from education to providing new, productive lives for the incarcerated.

Crandall doesn’t know what his current office will look like in a year or two, but he does know it won’t look like it does now. And there may be 20 people working in that space.

It’s a dinosaur that’s extinct. The company is moving on from it, reconfiguring, becoming more efficient, and responding proactively to change.

And it’s doing that with every aspect of an altered landscape.

George O’Brien can be reached at [email protected]