Genworth Financial Announces New Chief Investment Officer
RICHMOND, Va., April 27, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) has named Daniel J. Sheehan IV as the company's senior vice president and chief investment officer effective April 30, 2012, reporting to Michael D. Fraizer, chairman and chief executive officer.
Sheehan has been with Genworth since its initial public offering in 2004 and prior to that with its former parent General Electric Company since 1997. During that period, he held various roles throughout the investment organization, including real estate, risk, and portfolio management. In his most recent position as senior vice president of asset management, he was responsible for the overall performance of Genworth's insurance investment portfolios, including corporates, structured investments, real estate, private placements, and trading. Sheehan was named a Genworth officer in January 2009. He assumes the senior vice president and chief investment officer role from Ronald P. Joelson, who is leaving Genworth to join The Northwestern Mutual Life Insurance Company as chief investment officer.
Before coming to GE and Genworth, Sheehan was a property investment officer in Sun Life of Canada's real estate investments group. Sheehan, a chartered financial analyst, received a bachelor's degree in economics from Harvard University and later received an MBA in finance from Babson College.
"Dan brings in-depth experience in managing the investment platform and has been instrumental in helping to reposition and reduce certain risk exposures in the portfolio, and he has a strong knowledge of Genworth's businesses," Fraizer said. "Ron leaves with our investment portfolio in a strong position, with sound platforms, effective processes and exceptional people, and we wish Ron well in his new role."
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.
Genworth has approximately 6,400 employees and operates through three divisions: Insurance and Wealth Management, which includes U.S. Life Insurance, Wealth Management and International Protection segments; Global Mortgage Insurance, which includes U.S. and International Mortgage Insurance segments; and the Corporate and Runoff division. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, Inc., which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit genworth.com. From time to time, Genworth Financial, Inc. releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of genworth.com
SOURCE Genworth Financial, Inc.
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