, Babson Capital's former vice chairman and managing director, has been named MassMutual Financial Group's chief investment officer. Crandall replaces Stuart H. Reese, who was promoted to president and chief executive officer of MassMutual in early June.
Crandall will continue to serve as chairman of Babson Capital, a MassMutual subsidiary. At Babson, Cliff Noreen will take over Crandall's duties as head of corporate securities. Bill Glavin, currently president of Babson Capital, was also named chief executive officer of Babson, a title also previously held by Reese.
Crandall joined MassMutual in 1988, becoming managing director of Babson Capital in 2000, when MassMutual Investment Management merged into Babson Capital.
Besides Babson, MassMutual's asset management subsidiaries include OppenheimerFunds and Baring Asset Management.
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