PROVIDENCE – Mutual of America Financial Group, which specializes in retirement plans and investments, last week officially announced the opening of its new regional office in downtown Providence.
The New York City-based company, previously known as Mutual of America Life Insurance Co., has served customers in Rhode Island for decades. But it moved its regional office to 500 Exchange St. from Westborough, Mass., as part of its continuing expansion of its retirement-plans business in Rhode Island and New England in general, the company said.
Mutual of America’s decision to open the local office took into consideration discussions with various Rhode Island government officials, including Gov. Gina M. Raimondo, Providence Mayor Jorge O. Elorza and R.I. Commerce Corp., the state’s quasi-public economic-development agency, according to Commerce RI.
The new office – one of about 35 nationwide – is staffed with 14 managers and other staffers, the company previously told PBN.
“It’s exciting that a major financial-services company is choosing Rhode Island for its new regional office,” Raimondo said.
“When I first spoke with Mutual of America about moving here, they told me the same thing I hear from every company: their top consideration is a talented workforce,” she said. “The significant investments we have made over the past few years in education and job training have helped us recruit dozens of companies to our state, and we need to keep our foot on the gas.”
Elorza said: “We are so excited that Mutual of America has decided to call Providence home for their new regional office. We welcome them and all of their employees to our city and hope that they find Providence to be a place where they can thrive and grow.”
Commerce Secretary Stefan Pryor added: “We are very pleased that Mutual of America has decided to open this new regional office and become part of Rhode Island’s strong – and even stronger – economic ecosystem. We’re confident that the company will grow and thrive here.”
In celebration of the new office opening and the creative and entrepreneurial spirit of Providence, Mutual of America sponsored a WaterFire Providence lighting the evening of Oct. 22.
“Expanding our presence in Providence reflects our ongoing commitment to customers in Rhode Island, allowing us to enhance the level of quality personal service we provide and that they expect from us,” said Mutual of America CEO and President John Greed.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.
