Mr. Herman has deep insurance and operational experience, which he will use to lead Custodia’s push into its next phase of operational development and growth.
DALLAS, May 4, 2021 — Custodia Financial, an innovative leader in 401K employee financial wellness, announced that it has appointed P&C industry veteran Mark Herman to President, reporting to CEO Tod A. Ruble. Mr. Herman has deep insurance and operational experience, which he will use to lead Custodia’s push into its next phase of operational development and growth. Mr. Herman had previously supported the company as an investor and strategic advisor.
“Mark has over 35 years of executive and “hands-on” operating experience with some of the world’s most recognized P&C Insurers. He was recently President of CNA Specialty following C-suite executive roles at Everest Re, Ariel Re, and Ace Ltd. Mark understands and believes in Custodia’s purpose. His institutional experience and knowledge will be valuable in helping Custodia achieve the market positioning and growth that we are currently encountering,” said Mr. Ruble. “Mark, the team, and I will work closely to support our mission of improving employee’s retirement outcomes with an entirely new product that protects plan sponsor organizations and employees against 401k loan defaults due to involuntary termination; death, and disability.”
“I am excited to be joining Custodia. I’ve spent over two years getting to know Tod and the team and they’ve done an amazing job,” said Mr. Herman. “RLE is developing and commercializing an entirely new paradigm and product in an industry with very few truly new ideas or products, and most importantly a virtuous outcome. Custodia has built an end-to-end insurtech solution (Distribution / Underwriting / Claims / Administration) that’s been meticulously researched and is fully operational. I’m proud and happy to be joining at this important moment”.
About Custodia Financial
Founded in 2010, Custodia Financial and its Retirement Loan Eraser product are bettering the 401(k) industry. RLE is the only 401(k) loan protection program that automatically prevents loan defaults caused by involuntary job loss. RLE repays 401(k) loans in the event of death, disability, or unemployment. To learn more, please visit www.loaneraser.com