HomeInsuranceLong-Term Care InsuranceNorthwestern Mutual Pronounces Government Management Modifications

Northwestern Mutual Pronounces Government Management Modifications

Inside Successor promoted to Chief Monetary Officer

MILWAUKEE, Dec. 8, 2022 /PRNewswire/ — Northwestern Mutual Chairman, President and CEO John Schlifske at this time introduced management adjustments to strengthen the corporate’s senior management workforce, assist the corporate technique, and guarantee progress and growth alternatives for leaders into new areas of accountability.

Mike Carter, chief monetary and threat officer, will conclude a profitable 14-year tenure main the monetary operations of the corporate to maneuver into a brand new senior management workforce position because the chief of employees for the Workplace of the CEO. Carter will function the chair of the corporate’s senior management workforce, oversee the corporate’s quarterly enterprise critiques and transformation spend whereas persevering with to function a key strategic advisor to Schlifske and different members of the senior management workforce.

With Carter’s change, Todd Jones, who’s at the moment vice chairman and controller, will assume the position of govt vice chairman and chief monetary officer, reporting to Schlifske and can be a part of the corporate’s senior management workforce. Jones will lead the Finance and Threat perform and can assume obligations for the corporate’s monetary administration and planning, budgeting, actuarial, funding threat and operations, enterprise threat administration and resiliency and the company audit and anti-fraud groups.

Jones joined Northwestern Mutual in 2003 and served in management roles throughout the finance and threat groups previous to his present position. Earlier to becoming a member of the corporate, he labored in public accounting for the primary 13 years of his profession within the monetary providers sector for PricewaterhouseCoopers. Jones obtained his Bachelor of Science diploma in Accounting from Marquette College and is a Licensed Public Accountant (CPA). He’s additionally a member of the American Institute of Licensed Public Accountants (AICPA) and the Wisconsin Institute of Licensed Public Accountants (WICPA).

“We take a considerate method to succession planning for every of our senior management roles,” said Schlifske. “I need to thank Mike for expertly main our monetary administration for greater than a decade particularly throughout risky intervals such because the Nice Recession. Todd’s management experiences, understanding of our enterprise, and dedication to delivering outcomes to our policyowners will assist lead us into the longer term.”

President of
Northwestern Mutual Funding Administration Firm Ron Joelson to Retire

Ron Joelson, govt vice chairman and president, Northwestern Mutual Funding Administration Firm, introduced he’ll retire on the finish of the yr. Joelson joined the corporate in 2012 as the corporate’s Chief Funding Officer, a task which he held by means of December 2020. Throughout his tenure, he was an influential chief of the managed funding perform by means of a decade of traditionally unprecedented low rates of interest whereas elevating the corporate’s normal account funding portfolio.

“Ron has had a distinguished profession and has been great affect on our funding methods, insurance policies and selections behind the success of our funding perform and Common Account for a few years,” added Schlifske. “On the similar time, has additionally been an advocate and champion for expertise on his workforce, leading to a deep bench of leaders to information the corporate’s investments for many years to come back.”

Leaders with New Accountabilities

Lisa Cadotte, at the moment vice chairman – funding threat and operations, will turn into vice chairman – monetary planning and evaluation reporting to Jones. She’s going to lead monetary planning and evaluation for the corporate, inclusive of sourcing and procurement and organizational excellence. She joined Northwestern Mutual Capital in 1996 earlier than shifting to the monetary operations of the corporate. Cadotte obtained a Bachelor’s diploma in Finance from the College of Wisconsin-Milwaukee and a M.B.A. from Washington College.

Ryan Heinemann, at the moment vice chairman – company counsel, will succeed Chris Gawart as Common Counsel main the corporate’s regulation division efficient March 1, 2023. Gawart not too long ago introduced he can be retiring after 12 years of service on the firm following long-tenured profession in personal observe. Heinemann will report back to Chief Authorized & Compliance Officer Ray Manista. He joined Northwestern Mutual in 2012 and brings in depth management experiences having served in quite a few roles inside regulation within the areas of firm tax, funding tax, personal fairness and debt transactions, company offers, human assets, worker advantages and normal company issues. He obtained each his Bachelor’s diploma of Enterprise Administration in Advertising and Political Science and J.D. from the College of Wisconsin-Madison. 

Abim Kolawole, at the moment vice chairman – monetary planning excellence and technique, will turn into chief audit govt main the interior audit perform for the corporate reporting to Schultz. He may even proceed govt oversight of the corporate’s Sustained Motion for Racial Fairness initiative, inclusive of price range and program outcomes. Kolawole joined the corporate in 2003 serving in management roles, together with digital innovation, insurance coverage claims advantages and securities regulation. Kolawole obtained his J.D. from Suffolk College Legislation Faculty in Boston.

Stephanie Lyons, at the moment vice chairman – chief audit govt, will turn into vice chairman funding threat and operations, main the workforce chargeable for managing the corporate’s funding threat, liquidity and money motion, together with funding reporting and operations reporting to Schultz. She joined the corporate in 2008 serving in management roles in company technique and regulation. Lyons obtained each her Bachelor’s diploma of Enterprise Administration in Political Science, Worldwide Relations and French and her J.D. from the College of Wisconsin-Madison.

Deb Schultz, at the moment vice chairman – new enterprise, will turn into the brand new Chief Threat Officer reporting to Jones. Schultz is rejoining the corporate’s Finance management workforce, as she beforehand led the monetary administration division and was chargeable for treasury, price range and expense administration, sourcing and procurement, and insurable threat. Schultz joined Northwestern Mutual in 2005 as a senior actuary earlier than shifting into a number of management roles on the firm. She obtained a Bachelor diploma of Enterprise Administration in Actuarial Science and Threat Administration and Insurance coverage from the College of Wisconsin-Madison and her M.B.A from Northwestern College.

Matt Sullivan, at the moment vice chairman – planning expertise readiness and adoption, will assume the position of vice chairman – controller, chargeable for monetary accounting, reporting, planning and evaluation, price range, and expense administration reporting to Jones. Sullivan joined the corporate in 2011 serving in each product finance and funding accounting management roles. He obtained each his Bachelor’s diploma of Enterprise Administration in Accounting and his Grasp’s of Accounting from the College of Wisconsin-Madison.

“These extra adjustments realign roles and obligations, develop and stretch our executives in new methods, and assist us domesticate our ongoing deal with numerous management,” added Schlifske.

All management adjustments are efficient January 1, 2023 until in any other case famous.

About Northwestern Mutual

Northwestern Mutual has been serving to folks and companies obtain monetary safety for greater than 165 years. By way of a holistic planning method, Northwestern Mutual combines the experience of its monetary professionals with a personalised digital expertise and industry-leading merchandise to assist its shoppers plan for what’s most necessary. With greater than $560 billion in mixed firm and consumer property, $34 billion in revenues, and $2.1 trillion value of life insurance coverage safety in pressure, Northwestern Mutual delivers monetary safety to almost 5 million folks with life, incapacity revenue and long-term care insurance coverage, annuities, and brokerage and advisory providers. Northwestern Mutual ranked 97 on the 2022 FORTUNE 500 and was acknowledged by FORTUNE® as one of many “World’s Most Admired” life insurance coverage firms in 2022.

Northwestern Mutual is the advertising and marketing identify for The Northwestern Mutual Life Insurance coverage Firm (NM), Milwaukee, WI (life and incapacity insurance coverage, annuities, and life insurance coverage with long-term care advantages) and its subsidiaries. Subsidiaries embody Northwestern Mutual Funding Providers, LLC (NMIS) (funding brokerage providers), broker-dealer, registered funding adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Administration Firm® (NMWMC) (funding advisory and providers), federal financial savings financial institution; and Northwestern Lengthy Time period Care Insurance coverage Firm (NLTC) (long-term care insurance coverage). Not all Northwestern Mutual representatives are advisors. Solely these representatives with “Advisor” of their title or who in any other case disclose their standing as an advisor of NMWMC are credentialed as NMWMC representatives to offer funding advisory providers.

SOURCE Northwestern Mutual

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