Genworth Financial, a financial security company, has announced that its US mortgage insurance segment, led by Kevin Schneider, will now report directly to chairman and CEO Michael Fraizer.
Executive vice president Tom Mann will concentrate on leading the international segment. The company has announced that Mark Griffin, senior vice president and chief investment officer, will leave the company to pursue other career interests. Dan Sheehan, senior vice president of portfolio management, will serve as acting chief investment officer.
In addition, Vic Moses, senior vice president for actuarial and risk, will retire on October 1, 2008. The actuarial function will now report to Pat Kelleher, senior vice president and CFO. The risk management function will report to the CEO.
Mr Fraizer said: Kevin and his organization have kept a clear focus on executing our strategy and positioning the business for the future – all while mitigating risk during a difficult industry transition. I’m equally excited about Tom’s proven leadership and the opportunities we have to selectively expand our international business operations and product presence.