A major leadership shift is underway at Empower, and it's making waves in the retirement services industry! Joe Smolen is now at the helm of the company's Workplace Solutions unit, a move that highlights Empower's commitment to fostering internal talent and strategic growth.
But here's where it gets interesting: Smolen's promotion is more than just a change in title. As President of Workplace Solutions, he will be responsible for steering the strategic direction, growth initiatives, and relationship management of a retirement services giant. With assets under administration totaling a staggering $1.9 trillion as of September 2025, Empower's Workplace Solutions business serves a diverse range of clients, from government 457 plans to mega corporate 401(k) clients and everything in between. And this is the part most people miss—the business also offers a comprehensive suite of plans, including defined contribution, defined benefit, non-qualified, and consumer-directed healthcare plans, as well as stock plan services.
Smolen is no stranger to Empower or the industry. With a long history at the company, he has risen through the ranks since joining as a regional sales director in 1999. His most recent roles include leading the Core Markets in 2017 and adding the Mid-Market to his portfolio in 2024. But his influence extends beyond Empower. Smolen has served as Board Chair for the Society of Professional Record Keepers and Asset Managers (SPARK) and is actively involved with the Children's Diabetes Research Foundation and the Tim Tebow Foundation.
The leadership transition also brings Ken Munro into focus as the new Executive Vice President and head of the Core & Mid-Market segments. Munro steps into Smolen's former role, tasked with driving strategic priorities and maintaining growth and service excellence. His appointment underscores Empower's confidence in its leadership pipeline and its commitment to internal talent development.
"This transition is a testament to our leadership strength and our dedication to nurturing talent from within," said Rich Linton, President and COO of Empower. Linton's statement highlights a key aspect of Empower's culture: recognizing and promoting leaders from within. But is this approach always the best strategy for companies? Does it foster innovation and adaptability, or could it potentially limit diversity in thought and experience?
As Empower continues to innovate and grow, the company's focus on internal talent development is evident. With Smolen's extensive experience and proven leadership, the future of Empower's Workplace Solutions business looks bright. But what do you think? Is Empower's strategy of promoting from within a recipe for success, or could it potentially limit their ability to adapt to a rapidly changing industry? We'd love to hear your thoughts in the comments below!
