RALEIGH, N.C., Sept 22, 2009 /PRNewswire-FirstCall via COMTEX/ -- Genworth Financial, Inc. (NYSE: GNW) said today that its U.S. mortgage insurance business had created three new senior leadership positions to better meet the challenges and opportunities of the changing mortgage industry.
Reporting to Kevin Schneider, President, U.S. Mortgage Insurance, will be:
- Jacqui Peace, Senior Vice President and Chief Operations Officer
- Rohit Gupta, Senior Vice President and Chief Commercial Officer
- Jim Bennison, Senior Vice President, Strategy and Capital Markets.
"These executives will play critical roles as we manage through the current business cycle and position our company for long-term growth," said Schneider. "Their experience will help us meet the needs of a changing market as we continue to provide safe mortgage options for low down payment and first-time homebuyers."
Ms. Peace was previously Senior Vice President, Portfolio Management and Default Services for Genworth's U.S. mortgage insurance business. As Chief Operations Officer, she will have responsibility for the company's Portfolio Management and Default Services, Underwriting and Information Technology functions. She will focus on improving and creating processes to allow Genworth to serve its customers most effectively, while working with lenders and servicers to help borrowers stay in their homes and avoid foreclosure.
Mr. Gupta, as Chief Commercial Officer, will be responsible for Sales, Marketing and Products. This alignment will position Genworth to take advantage of opportunities created by the recovery of the mortgage market, driving increased sales and providing more safe, sound mortgage opportunities for low down payment and first-time buyers. Most recently, he was Senior Vice President, Products and Strategy.
Mr. Bennison, Senior Vice President, Strategy and Capital Markets will be responsible for Capital Markets, Strategy, Business Intelligence and Government Sponsored Enterprise (Fannie Mae and Freddie Mac) Relations. In addition to managing capital markets activity, he will work to ensure proper coordination of departmental priorities to best represent Genworth's interests in the evolving regulatory environment at both the federal and state levels. Prior to his recent position, he was Senior Vice President, Capital Markets.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth has more than $100 billion in assets and employs approximately 6,000 people with a presence in more than 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of more than 15 million customers. Genworth operates through three segments: Retirement and Protection, U.S. Mortgage Insurance and International. 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. From time to time Genworth releases important information via postings on its corporate website. Accordingly, investors and other interested parties are encouraged to enroll to receive automatic email alerts and Really Simple Syndication (RSS) feeds regarding new postings. Enrollment information is found under the "Investors" section of Genworth.com.
SOURCE Genworth Financial