Empower to provide retirement services to Brenntag North America, Inc.
Empower to provide retirement services to Brenntag North America, Inc.
Empower to provide retirement services to Brenntag North America, Inc.
03.21.2023
GREENWOOD VILLAGE, COLO. March 21, 2023 – Today, Empower announced they have partnered with Brenntag North America, Inc., and will provide defined contribution benefits to more than 4,600 Brenntag employees totaling approximately $688 million in assets.*
The contract began Jan. 3, 2023.
Headquartered in Reading, PA, Brenntag North America, Inc. is part of the Brenntag Group, which entered the chemical distribution business in 1912.
“Care is a cultural pillar of Brenntag,” said Rich Linton, president and chief operating officer at Empower. “They are committed to their employees and partners, and I am honored they chose and trust Empower and know we are dedicated to their effort of providing the necessary financial tools and customer experiences so every one of their employees can work toward pursuing their goals.”
Brenntag’s U.S. business was established in the 1970s and its Canadian business in 2000 as the company expanded by acquiring strategically placed distributors across North America.
“We found that Empower’s commitment to providing their participants with a holistic and innovative experience for saving for the future was the right fit for our employees,” said Don Marshall, Senior HR Director, Brenntag, North America. “We want to support our employees’ retirement saving needs no matter where they are, and we believe the Empower platform will tailor better outcomes going forward,” Marshall continued.
CAPTRUST’s Allentown, Pennsylvania team led by Jim Edwards, AIF®, and Wes Schantz, ChFC®, serves as Brenntag’s fiduciary investment advisor and was instrumental in assisting with the transition to Empower.
ABOUT EMPOWER
Empower is a leading provider of financial services including advice, wealth management, investing, and retirement services. Headquartered in Greenwood Village, Colorado, Empower administers approximately $1.3 trillion in assets for more than 17.8 million investors.1 Connect with us on empower.com, Facebook, Twitter, LinkedIn, TikTok, and Instagram.
Media contacts:
Stephen Gawlik - 617-417-4408 - Stephen.Gawlik@empower.com
Mandy Cassano - 860-670-4373 - Mandy.Cassano@empower.com
*As of Jan. 2023.
1 As of Dec. 31, 2022. Information refers to all retirement business of Empower Annuity Insurance Company of America (EAICA) and its subsidiaries, including Empower Retirement, LLC; Empower Life & Annuity Insurance Company of New York (ELAINY); and Empower Annuity Insurance Company (EAIC), marketed under the Empower brand. EAICA’s consolidated total assets under administration (AUA) were $1,324.8B. AUA is a non-GAAP measure and does not reflect the financial stability or strength of a company. As of Sept. 30, 2022, EAICA’s statutory assets total $76.1B and liabilities total $73.0B. ELAINY’s statutory assets total $7.0B and liabilities total $6.7B. EAIC’s statutory assets total $80.7B and liabilities total $79.6B.
On August 1, 2022, Empower announced that it is changing the names of various companies within its corporate group to align the names with the Empower brand. For more information regarding the name changes, please visit empower.com/name-change.
Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal, or tax recommendations or advice.
Empower refers to the products and services offered by Empower Annuity Insurance Company of America and its subsidiaries. “EMPOWER” and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America.
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