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Genworth Financial Wealth Management Hires Michael Kim as New SVP of Business and Channel Development

PLEASANT HILL, Calif., Oct 11, 2010 /PRNewswire via COMTEX/ --

Genworth Financial Wealth Management (GFWM), a subsidiary of Genworth Financial (NYSE: GNW), has hired former Fidelity Investments executive Michael Kim as senior vice president of business and channel development. Kim will head a new department to support those advisors servicing high-net worth investors. These include Genworth's core market of independent broker-dealer advisors, as well as registered investment advisors.

Kim brings more than 20 years of industry experience in the advisory and wealth management markets to GFWM. Reporting directly to GFWM President Gurinder Ahluwalia and serving on the executive management team, Kim will be responsible for the development of enhanced products and services, with the goal of helping advisors increase their assets under management (AUM) and service higher net worth investors.

"Through Michael's direction, GFWM will strengthen its service and relationships with those advisors who have shown interest in growing their high-net-worth clients," said Ahluwalia. "Our decision to build a business and channel development group is in response to pent-up demand among our core base of independent broker-dealer advisors, along with RIAs."

This enhanced level of focus continues GFWM's track record of providing innovative services to support advisors. By broadening its services, Genworth will afford advisors with greater access to comprehensive investment expertise, practice management solutions and client management support to help them grow healthier practices.

Prior to joining GFWM, Kim was a senior vice president at Fidelity Institutional Wealth Services, where he was responsible for various functions, including sales management, relationship management and practice management. During his 12 years there, Kim provided solutions and leadership in working with independent investment advisors that used Fidelity as the custodian of its client accounts. Kim started his financial services career at Coopers & Lybrand, LLC, a national public accounting firm, where he specialized in providing audit and consulting services to investment advisors, broker-dealers and mutual fund companies. Kim is a graduate of UCLA and a member of the American Institute of Certified Public Accountants.

About Genworth Financial Wealth Management, Inc.

Genworth Financial Wealth Management, a Genworth Financial Company, is an investment management and consulting firm dedicated to helping financial advisors build great businesses. Genworth Financial Wealth Management represents the merger of two Genworth subsidiaries, AssetMark Investment Services, Inc. and Genworth Financial Asset Management, Inc., and provides one of the most comprehensive fee-based investment management platforms in the industry, in addition to client relationship management tools and practice management programs. For more information, visit www.genworthwealth.com.

About Genworth Financial

Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 global financial security company. Genworth hasmore 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 throughthree segments: Retirementand 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 viapostings 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