Deals
MassMutual Sees ‘Tremendous’ Asia Opportunity With Yunfeng Deal
- CEO Crandall says he ‘certainly’ hopes to do more with Yunfeng
- He expects several billion dollars of pension deals in 2017
MassMutual Sees `Tremendous Opportunities' in Asia
This article is for subscribers only.
Massachusetts Mutual Life Insurance Co. Chief Executive Officer Roger Crandall said there’s room for more growth in Asia after his firm acquired a stake in Yunfeng Financial Group Ltd., a company backed by billionaire Jack Ma.
“We see tremendous opportunities in Asia, but scale really matters and technology really matters,” Crandall said Tuesday in an interview on Bloomberg Television. The company agreed last month to sell an Asian unit to a group of investors and gain a stake in Yunfeng. “We’re going to continue to have an equity interest and we’re really excited about the wealth-management opportunities there.”