Executive Leadership

Edmund Murphy III

Edmund F. Murphy III

President and CEO, Empower Retirement

Ed Murphy is President and CEO of Empower Retirement, a U.S. subsidiary of Great-West Lifeco Inc.  Ed provides leadership and strategic direction for the company’s operating units: Empower Retirement and Great-West Investments™. He also serves as a board member of Great-West Life & Annuity Insurance Company.

Ed brings 30 years of broad industry experience to his role. He was appointed as the inaugural President of Empower Retirement upon its creation in 2014 and has led the organization through a period of strong and sustained growth, positioning Empower as the go-to provider of retirement services for millions of Americans saving for retirement through workplace plans. A much sought-after thought leader as an advocate for the defined contribution system, Ed is regarded as a driving force for industry innovation and public policy reform.

Ed meets regularly with policymakers in Washington, D.C. and has testified before the House Ways and Means Committee, the Department of Labor, the Treasury Department and the IRS. He speaks and writes on topics ranging from retirement issues and public policy to investment advice and lifetime income strategies.  

Before his appointment as President of Empower, Ed had served as Managing Director of the Defined Contribution and Investment Only business at Putnam Investments since 2009. He joined the firm’s operating committee in 2011.

Prior to Putnam, Ed held executive leadership roles for 17 years at Fidelity Investments in its institutional, private equity and retail businesses. He also served as President and CEO of Veritude, LLC and as a board member of BostonCoach, Advisor Technology Services, Seaport Hotel, World Trade Center and several other Fidelity-owned businesses. He spent the early portion of his career at Merrill Lynch.

Ed is a board member of the Employee Benefit Research Institute, Cristo Rey School, Boston College Wall Street Council, Jobs for the Future and the New England Council. He holds a bachelor’s degree from Boston College and is a graduate of the General Manager Program at Harvard Business School.

Scott C. Sipple

President, Great-West Investments

Scott Sipple joined Empower Retirement in 2017 as president of its Great-West Investments business. He is responsible for Great-West Funds and Advised Assets Group, LLC, which create and deliver the company’s mutual fund, separate account and managed account offerings. Sipple also leads the general account, stable value and retirement income solutions Great-West Investments sells into the retirement market.

Sipple has over three decades of asset management experience on both the buy and sell sides, including eight years at Putnam Investments — most recently as head of global investment strategies. His responsibilities over the years have ranged from capital markets and trading to global portfolio strategy, product management, managed accounts, institutional banks and strategic relationships. Sipple holds a bachelor’s degree from Dartmouth College.

Andra S. Bolotin

Executive Vice President, Chief Financial Officer

Andra Bolotin joined Empower Retirement in 2015 as senior vice president and chief financial officer. In 2016 she was appointed executive vice president and chief financial officer of both Empower Retirement and its indirect parent company, Great-West Lifeco U.S. LLC.

At Empower Retirement, Bolotin leads 230 associates whose roles include financial analysis, reporting, risk and control, as well as actuarial and tax. She also helps set strategic direction. In her Great-West Lifeco U.S. role, she oversees capital structure, control and tax planning, as well as the corporate accounting and tax teams at affiliate Putnam Investments.

Bolotin has been with the Great-West Family of Companies since 2008, when she joined the finance leadership team at Putnam. She served as head of corporate finance and controller and as co-head of the Putnam Enterprise Risk Committee.

Before joining Putnam, Bolotin was senior vice president and chief financial officer of the developing business group at Fidelity Investments. She also served as CFO of Fidelity HR Services and senior vice president of corporate finance. Previously she was vice president and treasurer at Polaroid and an engagement manager at McKinsey & Company.

Bolotin, who holds a degree from Rensselaer Polytechnic Institute, started her career as a chemical engineer at IBM. She holds an MBA in finance and operations from the Massachusetts Institute of Technology.

Stephen J. Gawlik

Vice President, Corporate Affairs

Steve Gawlik is Vice President of Corporate Affairs for Empower Retirement. In his role, he is responsible for the company’s external communications strategy and execution, corporate-wide issues management, media relations, public policy and executive communications. He also works with business teams across the organization to raise the visibility of Empower capabilities, product solutions and best thinking.

Steve joined the organization in 2015 and has 22 years of experience in public relations in the corporate, not-for-profit and higher education sectors, most recently with TIAA-CREF and Western Union.

Steve holds a bachelor’s degree and an MBA from Boston College. He currently holds FINRA Series 7 credentials and is a member of the Public Relations Society of America.

Stephen E. Jenks

Senior Vice President, Chief Marketing Officer

Steve Jenks is Senior Vice President and CMO for Empower Retirement.

Steve has more than 25 years of marketing, product and business leadership experience. He joined the organization in 2014. Previously, Steve served as Head of Defined Contribution Product and Marketing for Putnam Investments, where he helped shape and execute growth strategies for the organization’s defined contribution, investment-only and rollover businesses. He joined Empower Retirement in 2014.

Steve began his investment industry career in 1990 with Fifth Third Bank. From there, he held leadership roles in marketing, product, finance and relationship management for Fidelity Investments from 1992 to 2009. Steve also co-founded Acceleration Retirement, a marketing analytics and outsourcing firm, and Stable Two Financial, a registered investment advisory company. He served as CEO of both companies.

Steve holds a bachelor’s degree with distinction in business analysis from the Indiana University Kelley School of Business. He is a registered representative of GWFS Equities, Inc. and maintains FINRA series 6, 26 and 63 securities registrations. Steve is currently on the boards of the American Red Cross, Mile High Chapter; Big Brothers Big Sisters of Colorado; and Court Appointed Special Advocates for Children (CASA) Colorado.

Carol-Kline-Empower Chief Information Officer

Carol Kline

Chief Information Officer

Carol Kline is the Chief Information Officer for Empower Retirement. In her role, she provides strategic information technology (IT) leadership by working with the technology and business teams to define and deliver IT strategy and capabilities across the company. She is also a key contributor to business-to-business and business-to-consumer engagement strategies.

Carol joined the organization in 2019 with a demonstrated track record of developing and driving innovative technology strategies to improve business processes and performance. Before joining Empower, she served as CIO at Conduent, Inc., a business process services provider.

Carol has also served at TTEC Holdings, Inc. (formerly TeleTech) as CIO, and she has held multiple executive and senior leadership roles at technology and communications firms such as EchoStar, America Online (now Historic AOL LLC) and Qwest Communications (now CenturyLink).

Carol holds a bachelor’s degree in marketing and management from Ohio Northern University and an MBA from the Weatherhead School of Management at Case Western Reserve University.

Richard Linton

Executive Vice President, Group Distribution and Operations

Rich Linton is Executive Vice President of Group Distribution and Operations for Empower Retirement. In his role, he oversees Empower’s segment distribution, which includes core, government, large, mega and not-for-profit markets. He also manages all aspects of recordkeeping and plan administration operations, including the Plan Service Center, the participant services center, compliance, conversion and implementation services, client services, processing operations, and financial controls. Additionally, he has responsibility for Great West Global operations in India.

Rich joined the organization in 2016 and has 28 years of industry experience, managing all aspects of the defined contribution business. Before joining Empower, he served as President of large corporate markets and retail wealth management for Voya Financial. There, he oversaw sales and marketing, relationship management, product development, platform management, field representative service, brokerage operations and strategic planning.

Rich has also served at Bank of America, where he was Managing Director of the business retirement solutions group, and at Fidelity Investments, where he gained deep experience running a major part of the operations organization. At Fidelity he served in a variety of leadership roles in operations, sales, product, marketing and client services before becoming Executive Vice President in the advisor retirement business.

Rich holds a bachelor’s degree in economics and mathematics from Boston University. He is board chairman and president of the Society of Professional Asset-Managers and Recordkeepers (SPARK), and he serves on the board of trustees of Colorado Succeeds, an organization of business leaders who are working to improve Colorado’s schools.

David G. McLeod

Senior Vice President, Chief Business Development Officer

Dave McLeod joined the Great-West Family of Companies in 1985 and was appointed senior vice president, product management, of Empower Retirement in 2012. He is responsible for product development efforts across the company’s retirement administration, annuity and insurance and capital preservation solutions.

Previously, he held several leadership positions with Empower Retirement and affiliated companies, including vice president, investment operations, and controller/treasurer of Great-West Funds.

A business graduate of the University of Manitoba, McLeod holds FINRA series 6, 26 and 65 registrations and a Certified Management Accountant designation.

Jennifer Nyhouse

Vice President, Chief Internal Auditor

Jen Nyhouse is Vice President and Chief Internal Auditor for Empower Retirement. In her role, Jen is responsible for overseeing the internal audit function, which provides independent and objective assurance to the firm and the board.

Jen joined the organization in 2015 as the Vice President of Financial Process and Control where she was responsible for overseeing the internal control over financial reporting program, the enterprise project management office and overall finance process improvement initiatives. She has over 20 years of progressive experience, including in KPMG’s Advisory practice, where she delivered internal audit and management consulting services to clients in a variety of industries.

Jen holds a MBA from the Indiana University Kelley School of Business and a bachelor’s degree in business administration from the University of Colorado at Boulder.

Suzanne M. Sanchez

Chief Human Resources Officer

Suzanne Sanchez joined Empower Retirement in 2005 and was named chief human resources officer in 2011. Sanchez is responsible for all human resources functions. In her role, she leads the company’s efforts to attract, engage and retain top talent in support of the company’s long-term strategic roadmap. This includes providing attractive benefits, competitive compensation and leading-edge training. She is a member of the Empower Retirement executive team.

Prior to her current role, Sanchez was the assistant vice president of talent management and corporate social responsibility. She spent her earliest years at the firm in talent acquisition roles.

Sanchez is passionate about giving back to the community and sits on the board of Denver CASA. She has a bachelor’s degree from the University of Colorado and is a certified senior human resources professional.

Richard G. Schultz

General Counsel, Chief Legal Officer

Richard Schultz has been in-house counsel with the Great-West Family of Companies since 1986. As the general counsel and chief legal officer for Empower Retirement , he is responsible for all legal and regulatory matters involving the company. He also serves as the company’s corporate secretary. In addition, Schultz serves as senior vice president and general counsel of Great-West Life & Annuity Insurance Company for Great-West Lifeco Inc.

After serving as assistant counsel for The Great-West Life Assurance Company in Winnipeg, Canada, Schultz joined Empower Retirement in 1995. Previously, he was an associate at the Winnipeg law firm Taylor McCaffrey.

Schultz received his law degree from Osgoode Hall Law School, Toronto, and his bachelor’s degree from the University of Manitoba, Winnipeg. He is licensed to practice law in Colorado and Manitoba.

Claudia Step

Claudia Step

Senior Vice President and Chief Client Experience Officer

Claudia Step is Senior Vice President and Chief Client Experience Officer for Empower Retirement. In her role, she leads the development of Empower’s client experience strategy by promoting our brand, purpose and values through a cross-channel strategy encompassing digital, mobile, phone, paper and face-to-face engagement. She also helps develop a client-obsessed mindset through the governance of cross-functional teams with aligned accountabilities and coordinates all client-facing initiatives to help maintain a holistic customer experience.

Claudia joined the organization in 2011 and has 20 years of experience in strategy, product, marketing, pensions and investments management. Prior to joining the firm, she led the product and strategy organization for Fiserv Investment Services, driving the vision of one of the largest platforms that supports advisors in the managed account industry.


Claudia has also served at Prudential, where she held various leadership roles, including Senior Vice President of Product for Prudential’s retirement division. She was also the chief architect of the award-winning Goal Maker program and helped launch the company’s unique personalized participant communication program.

Carol E. Waddell

Senior Vice President, Head of Retirement Solutions Group

Carol Waddell is Senior Vice President and Head of the Retirement Solutions Group for Empower Retirement. In her role, she oversees the teams that deliver guidance, advice, managed accounts, and financial wellness and planning across all corporate and government defined contribution segments for Empower and leads the consumer IRA, taxable and Empower Brokerage businesses.

Previously, Carol served as Head of Product and Marketing for J.P. Morgan Retirement Plan Services. At J.P. Morgan, she led product management and development, which included products, services, tools and websites for advisors, plan sponsors and participants, and oversaw the firm’s marketing strategy and communications, segment management and award-winning participant experience.

Carol has also worked for T. Rowe Price, where she served in various leadership roles. In addition to providing oversight for defined contribution, defined benefit and nonqualified plan product development and marketing — including customer digital channels; investment products; and services for intermediaries, plan sponsors and participants — she contributed significantly to the firm’s overall retirement income and target date product strategies. Carol has also served at Citibank in a variety of positions focused on marketing and customer experience.

Carol holds an MBA from Loyola University Maryland and currently maintains the FINRA Series 6 securities registration. She also holds FINRA Series 7 and 24 credentials.

Tina Wilson

Tina Wilson

Senior Vice President and Chief Product Officer

Tina Wilson is Senior Vice President and Chief Product Officer for Empower Retirement. In her role, she is responsible for the strategy, ideation and design of retirement products and solutions and oversees the team responsible for product development, management methodology and governance.

Tina joined Empower in 2019. Prior to joining the firm, she served as Head of Product & Investment Solutions Innovation for MassMutual’s Workplace organization. She has also served as Managing Director, Product & Investment Management for MassMutual International LLC, where she led fund strategy within MassMutual’s Annuities and Retirement Services businesses, and as an Investment Officer at Connecticut Mutual. She has 25 years of experience in the financial services industry.

Tina holds a bachelor’s degree from the University of Connecticut. She also holds FINRA Series 7 and 24 credentials and the Accredited Investment Fiduciary® (AIF®) designation, and she is a Chartered Financial Analyst (CFA) charterholder and a member of the Hartford (CT) CFA Society and the CFA Institute.