Management Expansion Announced at Sentra/Spelman; - Jim Cannon Named President, Richard Woltman to Continue as Chairman -
SAN DIEGO, Aug. 15 /PRNewswire/ -- Sentra Securities Corporation and Spelman & Co., Inc. (Sentra/Spelman) today announced that Jim Cannon has been named president of the San Diego-based broker-dealers. Sentra/Spelman are members of The SunAmerica Financial Network, Inc. (SFNI), the largest network of independent financial planners in the United States. Richard Woltman, who had been president and chairman of Sentra/Spelman, continues as chairman. With more than 15 years of broker-dealer experience, Cannon will be instrumental in growing the organization, as well as in maintaining its high-quality service and support. In addition to leading the senior management team, he will oversee the company's day-to-day business activities. Cannon joins Sentra/Spelman from Phoenix-based SunAmerica Securities, Inc., also a member of SFNI, where he was most recently executive vice president of marketing and sales. "Jim's marketing and sales expertise and depth of knowledge in the broker-dealer industry, as well as within the SunAmerica organization, make him the ideal candidate to lead Sentra/Spelman," said Jay Wintrob, president and chief operating officer, SunAmerica Inc. "He understands the unique culture of Sentra/Spelman, as well as SunAmerica's goal to grow its broker-dealer organizations. Jim has certainly earned the respect of his colleagues during his 13-year tenure at SunAmerica Securities and deserves the opportunity to lead a broker-dealer organization of the high caliber and promise of Sentra/Spelman." Cannon joined the SunAmerica organization in 1987 as an officer of Anchor National Financial Services, which was acquired by SunAmerica Securities, Inc. in 1992. Responsible for five sales regions across the United States, he played a critical role in growing SunAmerica Securities to a $210 million enterprise with more than 2,100 representatives and nearly 200 employees. Woltman, who has led Sentra/Spelman since 1987 and guided the company through its acquisition by SunAmerica in 1998, has also been named managing director of SFNI. Working with Kevin Hart, president of SFNI, he will be active in advertising, marketing and acquisitions, helping the company achieve its goal of growing its broker-dealers to 15,000 independent representatives by the end of 2003. "Dick Woltman is an experienced, successful entrepreneur/founder of a well-regarded broker-dealer organization. I am delighted to have him working with me on issues including growth, sales and marketing, recruitment and industry relations for SunAmerica's entire broker-dealer network," said Hart. "Each of the firms comprising the SunAmerica Financial Network will benefit greatly from Dick's contributions." As part of its expanded management team, Sentra/Spelman also announced that Melisa McGuire has been promoted to executive vice president and senior operating officer, responsible for human resources, back-office operations and equity and fixed income markets. McGuire has more than 13 years of experience in the securities business, and has been with Sentra/Spelman since 1991, most recently as senior vice president and senior operating officer. Since joining SFNI, Sentra/Spelman has nearly doubled in size, growing revenues to $105 million and increasing its number of representatives to 900 throughout the United States. Sentra Securities Corporation and Spelman & Co., Inc. are separate independent contractor broker-dealers offering a full line of investment products and services. The SunAmerica Financial Network consists of six wholly owned broker- dealers, with representatives operating in all 50 states: Royal Alliance Associates (New York); SunAmerica Securities (Phoenix); FSC Securities (Atlanta); Sentra Securities Corporation (San Diego); Spelman & Co., Inc. (San Diego); and Advantage Capital Corporation (Houston). Each broker-dealer maintains a separate identity and independent culture. The SunAmerica Financial Network is a subsidiary of SunAmerica Inc. SunAmerica is a financial services company specializing in retirement savings solutions and a wholly owned subsidiary of American International Group, Inc. (NYSE: AIG). To learn more about Sentra/Spelman, visit their web site at www.sentraspelman.com. To learn more about retirement solutions from SunAmerica, visit the company's web site at www.sunamerica.com. AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
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