RICHMOND, Va., June 17, 2005 /PRNewswire-FirstCall via COMTEX/ -- Genworth Financial, Inc.
(NYSE: GNW) today announced that William R. Wright, Jr., the company's chief
investment officer, is leaving the company to pursue other interests. Mark W.
Griffin, senior vice president and chief risk officer has been named acting
chief investment officer, effective immediately.
Griffin has more than 23 years experience in the insurance industry
including 14 years on Wall Street providing investment leadership to the
insurance sector in the areas of asset-liability management, asset
securitization and investment banking in both Europe and the U.S. Griffin
joined Genworth's predecessor company in 2000 and has been its chief risk
officer since inception. He is a Fellow in the Society of Actuaries, a
Chartered Financial Analyst and holds the designations of both Financial and
Professional Risk Manager.
"In Bill Wright's 12-year career with Genworth and its predecessor
companies, he has helped develop our strong investment team while maintaining
the vital partnership we have today with GE Asset Management, which oversees
the majority of our fixed income investments," said Michael D. Fraizer,
chairman and chief executive officer. "We are grateful for Bill's many
contributions, and wish him the best of luck in his future endeavors."
"As chief risk officer, Mark has always worked closely with our investment
team, and will give us consistency in leadership and focus on execution that
we need in today's challenging investment environment," Fraizer said. "I am
confident that Mark will continue to drive our investment strategies forward
The company will conduct an internal and external search to fill this
critical role at Genworth, according to Fraizer.
About Genworth Financial
Genworth is a leading insurance holding company, serving the lifestyle
protection, retirement income, investment and mortgage insurance needs of more
than 15 million customers, and has operations in 22 countries, including the
U.S., Canada, Australia, the U.K. and more than a dozen other European
countries. For more information, visit http://www.genworth.com.
SOURCE Genworth Financial, Inc.
Investors: Alicia Charity, +1-804-662-2248, firstname.lastname@example.org, or Media:
Mike Kachel, +1-804-662-2534, email@example.com, both of Genworth Financial,