Genworth Names Martin P. Klein Chief Financial Officer

RICHMOND, Va., March 18, 2011 /PRNewswire/ -- Genworth Financial, Inc. (NYSE: GNW) announces that it has named Martin P. Klein as its new senior vice president and chief financial officer.  He will join the company as senior vice president on April 11, 2011 and become chief financial officer following the filing of Genworth's 10-Q quarterly report for the first quarter.

Having worked nearly 30 years in financial services, Klein, 51, brings significant experience to the job.  His background includes deep life insurance, finance and investment banking expertise, stemming from leadership positions at some of the largest life insurance carriers as well as in corporate finance.   He is a Fellow of the Society of Actuaries, a member of the American Academy of Actuaries and a Chartered Financial Analyst.  

He comes to Genworth from Barclays Capital, where as managing director he led both the Insurance Solutions Group and Pension Solutions Group, which provide strategic advisory services and capital market solutions to address business portfolio, investment, risk, asset/liability management and capital issues for insurance and pension clients.  Klein also led the insurance advisory group at Lehman Brothers and held a variety of senior leadership positions in investments, actuarial, product and finance at other institutions.  

"We are pleased to have Martin Klein join Genworth as CFO," said Genworth Chief Executive Officer Michael D. Fraizer.  "Marty brings an extensive knowledge of the insurance industry, along with deep strategic and capital management expertise.   His business acumen and 30 years of financial services experience will add strong leadership to our efforts to drive profitable growth, improve in-force performance and manage capital to enhance shareholder value."

He earned his M.S. in Statistics and Actuarial Science at the University of Iowa in Iowa City, Iowa and his B.A. in Mathematics and Business Administration at Hope College in Holland, Michigan.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,500 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, 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 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