California-based Pacific Life Insurance has promoted its chief financial officer and chief investment officer Khanh Tran as its new president.

Effective from 01 April 2012, Tran has also been named to the boards for both parent companies of Pacific Life Insurance Company.

In his new role as president, Tran will continue to be responsible for financial, strategic planning, investments, and Pacific Life’s non-insurance businesses, including Aviation Capital Group, Pacific Global Advisors, and Pacific Asset Management.

Tran, who joined Pacific Life in 1990 as treasurer, was named vice president of Corporate Development and treasurer to manage mergers, acquisitions, and strategic new businesses.

After having been elected to the board of directors of Pacific Life Insurance Company, he was promoted to chief financial officer in 1996, and also assumed the role of chief investment officer in 2011.

Adrian Griggs will become Pacific Life’s new chief financial officer and executive vice president, and will be responsible for the company’s accounting, audit, tax, and treasury functions.

Griggs, who will report to Tran joined the company in 1994 and was promoted to senior vice president in 2008 and assumed oversight of the division’s Institutional & Structured Products and Risk Management departments in 2009.

Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans.