Genworth Financial Announces Changes to USMI Leadership Team

RICHMOND, Va., Aug. 7, 2012 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) today announced personnel changes to further strengthen the senior leadership team of its U.S. Mortgage Insurance (USMI) unit. John Clifford has been promoted to senior vice president, commercial operations, and Matt Young has rejoined USMI as senior vice president, sales. 

Clifford will be responsible for products, account development, marketing, commercial analytics, sales support and training, as well as capital markets and business strategy. He joined GE Capital in 1999 as a member of the Financial Management Program. Clifford began his career in USMI's Commercial organization as an account development manager before moving into segment marketing and product development. He served as acting chief risk officer in 2011 and most recently was vice president, products & business development. 

Young most recently was vice president, sales for Wells Fargo Home Mortgage, where he led a number of regional sales teams in his six years as a sales leader. Prior to joining Wells Fargo in 2006, Young was a regional vice president of sales at GE Mortgage Insurance (now Genworth's U.S. Mortgage Insurance unit) in Raleigh. Young initially joined GE in 1990 and held several leadership roles throughout the organization. He graduated from Michigan State University with a BS in Logistics Management and earned his MBA from Miami University. 

"I am confident that John and Matt's experience and leadership will make them valuable additions to USMI's senior leadership team," said Rohit Gupta, president and chief executive officer of USMI.

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.