Pentegra announced an impending change at the top today, with Eric Wietsma named to succeed John E. Pinto later this year as the President and CEO of the White Plains, N.Y.-based provider of retirement plan and fiduciary outsourcing solutions.
The Board of Directors of Pentegra Services Inc. announced that Pinto will retire at the end of June, 2023. Wietsma currently serves as Senior Vice President and Chief Operations Officer.
The company said in a statement today that Wietsma brings a wealth of leadership experience and passion for the business to this role.
“The Board of Directors is thrilled to have chosen an individual of Eric’s caliber to lead Pentegra. He possesses the qualifications and expertise to guide and grow Pentegra to a bright future and create a lasting impact on the industry,” said Pentegra Board Chair, David H. Hehman. “At the same time, we are grateful for John Pinto’s leadership and countless contributions. John has been part of the fiber of this organization for the last 31 years and integral to every success that this organization has achieved over the course of his career. He leaves Pentegra and its team well-positioned for future success.”
Pinto, having joined the organization in 1991, became Pentegra’s President and CEO in 2013. During his tenure, the company nearly doubled its assets under administration to $13 billion. He successfully led several of Pentegra’s most important strategic initiatives over the past decade, including the acquisition of Advanced Pension Solutions (APS) in 2013 and New Pinnacle Consulting Group (NPCG) in 2022.
Under his direction, Pentegra developed key strategic partnerships to offer its ERISA 3(16) fiduciary services in conjunction with major recordkeeping and payroll providers in the retirement industry, greatly expanding its industry footprint.
“It has been a true honor leading the Pentegra organization. I look forward to working with Eric to successfully transition him to his new role,” Pinto said. “Eric is an innovative, experienced and dedicated leader with a proven track record of success. His extensive retirement industry background and business development skills will help Pentegra strengthen partnerships, develop strategic alliances and expand its industry presence. I am confident that the organization will reach new levels of achievement under his leadership.”
As Senior Vice President, Chief Operations Officer at Pentegra, Wietsma is responsible for two wholly owned subsidiaries of Pentegra and a group trust for which Pentegra provides administrative and investment services, along with the management of Pentegra’s Defined Contribution (DC) and Third Party Administrator (TPA) operations. He joined the organization in February, 2022.
“It was evident immediately that Eric’s ability to perform at the highest level along with his business acumen would align very well with our goals for the organization,” Hehman said. “As we look to the future, we are confident he will do a great job leading Pentegra and carry on its long legacy of providing the highest level of retirement plan and fiduciary services.”
Prior to joining Pentegra, Wietsma served as Head of Workplace Operations at MassMutual, Inc. where he led an 800-plus employee organization. Prior to that, he served as Workplace Solutions Head of Sales and Education and Senior Vice President of Investment Services and Product Management.
“I could not be more grateful and excited to accept the position as President and CEO of an organization with such a rich history and legacy,” Wietsma said. “John has done a wonderful job in positioning our organization for future success. I look forward to working with Pentegra’s extremely talented team and to building on the achievements of the past 80 years.”
Wietsma holds a Master of Science in Applied Statistics (MS) from Purdue University, as well as a Bachelor of Science (BS) in Mathematics from Calvin University. He is a Fellow Society of Actuaries (FSA) member and holds FINRA Series 3, 6, 7,24, 26 & 63 licenses.
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Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
