Mutual of America moves regional office to Providence

PROVIDENCE – Mutual of America Financial Group, a financial services company specializing in retirement plans and investments, has moved its regional office to downtown Providence, the company confirmed Tuesday.

The New York City-based company – previously known as Mutual of America Life Insurance Co. – recently moved its regional office to Rhode Island’s capital city from Westborough, Mass. The local office at 500 Exchange St. is staffed with 14 managers and other staffers.

Providence is a better location for the company, as many of the small businesses it serves and others it hopes to gain as new customers are in Rhode Island, said Paul Cooney, a Mutual of America spokesman.

“Rhode Island is one of our biggest territories,” Cooney said. “It makes sense because we work with a lot of small business owners and nonprofits. And Rhode Island is like the small business capital of New England.”

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In addition to Rhode Island, the Providence office serves eastern Massachusetts, New Hampshire, Maine, and Vermont.

Mutual of America Chairman, President and CEO John Greed is expected to attend a by-invitation-only event Oct. 22 in Providence, to be hosted by the company to celebrate the opening of the local office.

Founded in 1945, Mutual of America specializes in providing pension and retirement-related products, programs, and services.

Mutual of America reported premium revenue of $2.6 billion and total assets of $20.4 billion in 2018. The company has more than 1,000 employees, including at its Park Avenue headquarters in New York and at more than 30 regional offices nationwide.

The company “has provided retirement plans, services and investments to nonprofit and for-profit businesses for decades, including to those in Providence and throughout Rhode Island,” said Kieran O’Dwyer, Mutual of America’s vice president of strategic communications.

“Expanding our presence to this new office allows us to be closer to those clients as we help their employees save for retirement and plan for a financially secure future,” he added.

Scott Blake is a PBN staff writer. Email him at Blake@PBN.com