Jackson National Life Insurance Company has announced two senior executive level promotions at Jackson National Asset Management (JNAM) and Jackson Fund Services (JFS). It has promoted Mark Nerud to president and chief executive officer and Susan Rhee to senior vice president and general counsel of JNAM and Jackson Fund Services.

NAM is an investment adviser and subsidiary of Jackson that provides investment advisory and transfer agency services for Jackson’s variable products, and JFS is a division of JNAM that provides fund accounting and administration services.

Mr Nerud has served as president of JNAM and Jackson Fund Services. He will be responsible for managing the strategic direction of the firms while overseeing investment management, business and product development, and operations. Earlier, he was responsible for the fund administration and accounting of the Voyageur Funds at Voyageur Asset Management.

Ms Rhee will oversee all legal responsibilities related to Jackson National Life’s investment companies. She had served as assistant vice president and associate general counsel for Jackson National Life and chief legal officer for JNAM. She was an associate at Goldman, Sachs & Company’s Wealth Management Division, where she was responsible for the division’s compliance issues.

Clark Manning, president and chief executive officer of Jackson, said: “Mark and Susan have made significant contributions to the Jackson organization throughout their careers while bringing valuable insight and exceptional talent to their respective roles. Under Mark’s leadership, JNAM has provided Jackson with cost savings and operational efficiencies that allow us to pass more value on to our customers and shareholders.”

Jackson National Life Insurance Company is a provider of variable, fixed and fixed index annuities. It also offers life insurance and institutional products.