RICHMOND, Va., Nov. 11 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) today announced that Ronald Joelson will join the company as its
new chief investment officer, with responsibility for managing Genworth's
nearly $70 billion investment portfolio.
Joelson comes to Genworth from JP Morgan Asset Management in New York,
where he served as managing director of insurance strategic markets coverage
from July 2007 until November of this year. Prior to that, from 1984-2007
Joelson held a number of financial positions at Prudential Financial in
Newark, New Jersey. He spent his first 11 years there in private placements
and structured finance. Immediately before being named Prudential's CIO, he
served as senior vice president, financial management, helping design
structures for demutualization of the company. From 2000-2007 Joelson served
as Prudential's senior vice president and chief investment officer, asset
liability and risk management, overseeing investment strategy and portfolio
performance for Prudential's $230 billion general account.
"With Ron's extensive experience in the financial services industry, he
will play a critical role as we continue to position Genworth for the future
and manage the challenges of the current market environment," said Michael D.
Fraizer, Genworth chairman and chief executive officer. "We're pleased that
someone with Ron's strong credentials and leadership will be joining our
Joelson graduated in 1980 from Hamilton College in Clinton, NY with a
Bachelor's degree in Economics and Government. He earned his M.B.A. from
Columbia University's Graduate School of Business in 1983.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500
global financial security company. Genworth has more than $100 billion in
assets and employs approximately 7,000 people with a presence in more than 25
countries. Its products and services help meet the investment, protection,
retirement and lifestyle needs of over 15 million customers. Genworth operates
through three segments: Retirement and Protection, International and U.S.
Mortgage Insurance. Its products and services are offered through financial
intermediaries, advisors, independent distributors and sales specialists.
Genworth Financial, which traces its roots back to 1871, became a public
company in 2004 and is headquartered in Richmond, Virginia. For more
information, visit genworth.com.
SOURCE Genworth Financial, Inc.
CONTACT: Al Orendorff of Genworth Financial,
/Web site: http://www.genworth.com