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David Blumenstein will become president and CEO of The Segal Group Inc. on Oct. 1, the New York-based benefit consultant announced Monday.
Mr. Blumenstein, who has been with Segal for more than 27 years and is currently its national director of multiemployer consulting, will succeed Joseph A. LoCicero, who will continue with the company as chairman, the company said in a statement.
Howard Fluhr, Segal's current chairman, will shift to chairman emeritus.
“I look forward to working with David through the transition, and in my new role as chairman and I am confident he will continue our legacy of providing excellent service to our clients and move our great organization forward into its next chapter,” Mr. LoCicero said in the statement.
In his current role, Mr. Blumenstein has served as a consultant to numerous multiemployer health, pension and defined contribution plans, Segal said. He also is a member of Segal's board of directors.
Mr. Blumenstein, who is now based in Washington, will work out of Segal's Washington and New York's offices in his new role. Mr. LoCicero has been based in New York since he was named CEO just over a decade ago.
Moving on from the IRS reporting requirements that were front of mind during the 2015 fall open enrollment for group health plans, benefits managers are grappling with implementing strategies to avoid the Cadillac tax for the 2016 enrollment season.