New structure enables continued growth of Wealth Solutions and Health Solutions businesses — provides strong platform for the execution of Voya’s workplace-centered strategy
Continued focus on serving the current needs of employers, employees and intermediaries, while leveraging Voya’s increasing scale and capabilities in retirement and benefits to provide greater insights and solutions for clients
Voya Financial, a leading health, wealth and investment company, announced that Rob Grubka, currently CEO, Health Solutions, has been appointed to the expanded role of CEO, Workplace Solutions. In this newly created role, Grubka will lead Voya’s Health Solutions and Wealth Solutions segments and oversee all of the company’s workplace benefits and savings businesses. He will continue to report to Heather Lavallee, president and CEO-elect, Voya Financial, Inc.
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“Bringing together our Health Solutions and Wealth Solutions businesses under one leader ensures that we continue to deliver on the current expectations of our clients, while fostering greater alignment across our businesses to meet the growing needs of employers, employees and intermediaries,” said Lavallee. “I am excited to have Rob take on this expanded leadership role. He is an outstanding leader with broad experience in both the retirement and benefits industries, a significant understanding of employer and intermediary needs, as well as demonstrated success in achieving great cultural, operational and financial outcomes.
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“Since assuming leadership of Health Solutions in 2016, Rob has built and expanded strong relationships with our distribution partners, broadened the set of valuable workplace solutions that we offer clients, and driven exceptional revenue and earnings growth. He has been an integral architect of Voya’s broader workplace strategy, including driving close alignment with our Wealth Solutions business to deliver a holistic, comprehensive approach to serving our clients’ needs,” added Lavallee.
In his expanded role, Grubka will have oversight of Wealth Solutions and Health Solutions strategy, products and solutions, pricing, underwriting and operations. Voya also will be transitioning its Growth Office into the broader Workplace Solutions structure, with Grubka having oversight of sales, distribution, marketing and customer experience as well.
“I am honored and excited to take on this expanded leadership role,” said Grubka. “Today, our Health Solutions and Wealth Solutions businesses are strong, top-five providers of workplace retirement plans, benefits, and savings products and solutions, and each stands on its own as a great business. With our clear strategy and plans to continue to grow, we will work together across the team to deliver on our clients’ needs today, while also investing for the future. Specifically, our new structure will support our broader focus on bringing our clients additional, innovative ideas and solutions to help them optimize their spend on workplace benefits and savings programs, and address their employees’ health and wealth challenges. I look forward to working closely with all of our leaders and colleagues across Health Solutions and Wealth Solutions to advance our growth plans.”
Grubka, who has nearly 30 years of actuarial, product management and leadership experience across insurance, retirement savings and workplace benefits, joined Voya in 2015 as chief risk officer for the company’s Wealth Solutions (previously known as Retirement) business and the company’s former annuities business. Prior to joining Voya, Grubka led Lincoln Financial’s Group Protection business and headed product teams in the annuity and retirement markets. From 2006 to 2011, Grubka served as senior vice president and head of Retirement Solutions products for Lincoln. In this role, his responsibilities included product development and business strategy. Earlier in his career, he held a variety of actuarial roles at Nationwide Financial. Grubka earned a bachelor’s degree in actuarial science from The Ohio State University. He holds FINRA Series 6 and 26 licenses, and he is a fellow in the Society of Actuaries. Grubka also serves on the board of Junior Achievement North and is one of the executive sponsors of Voya’s Volunteerism Council.
Voya also announced today that Charlie Nelson, who most recently served as vice chairman and chief growth officer, will transition into a new role serving as vice chairman and strategic advisor to Lavallee until the second quarter of 2023.
“In addition to his many prior contributions to Voya’s cultural, financial and operational successes, Charlie has most recently been integral to building our workplace strategy and advancing our go-to-market approach. He has worked across the organization to create a structure and focus that enables us to leverage our scale and strong relationships to deliver solutions that employers, employees and intermediaries value. I look forward to continuing to have the benefit of Charlie’s insights and perspective as we move into 2023,” added Lavallee.
As an industry leader focused on the delivery of workplace benefits, savings and investment solutions to and through the workplace, Voya is committed to delivering on its mission to make a secure financial future possible for all Americans — one person, one family, one institution at a time.
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