Babson Capital Management announced a series of promotions today.

Thomas Finke, formerly president of the firm, will take the position of chairman and chief executive officer, effective Dec. 1. He will also become vice president and chief investment officer of the Massachusetts Mutual Life Insurance Co. (MassMutual), Babson Capital's parent company. Finke is taking over these roles from Roger Crandall, who was named MassMutual's president and chief operating officer as of Dec. 1. He will continue to report to Crandall.

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