To devote more time to Federal legislative, regulatory matters
John Hancock has named Linda Watters as vice president of Government Relations, effective November 2.
In her new position, Ms Watters will be primarily responsible for state legislative and regulatory relations, as well as John Hancock’s relationship with the National Association of Insurance Commissioners (NAIC). Because of its business structure, John Hancock’s primary insurance state regulators are in Massachusetts, Michigan and New York.
Ms Watters reports to Thomas Samoluk, vice president & counsel, Government Relations.
Ms Watters was most recently a managing director of Financial Risk Management with KPMG LLP in Chicago. From 2003 to 2007, she served as commissioner, the Office of Financial and Insurance Services, for the State of Michigan. She was appointed to the post by Michigan Governor Jennifer Granholm and unanimously confirmed by the Michigan State Senate.
During her tenure, Michigan fully implemented coordination of the regulation of the insurance, banking and securities industries. Ms Watters also was the founder, president and CEO of Detroit Commerce Bank from 1998 to 2003.
James D. Gallagher, executive vice president, Communications, Government & Community Relations, said: John Hancock is delighted to welcome Linda to our government relations staff. She was a highly respected commissioner in Michigan and is held in high esteem by her former colleagues at the NAIC and the industry. Given the increased activity at the state level regarding reform and regulation of the financial services industry, Linda brings a wealth of experience and resources to her role here, allowing Tom Samoluk to devote more time to Federal legislative and regulatory matters which also have grown more complex.