RICHMOND, Va., Dec. 2 /PRNewswire-FirstCall/ -- Genworth Financial, Inc.
(NYSE: GNW) announced today that Saiyid (Sy) T. Naqvi has been elected to the
Genworth Financial Board of Directors, filling the second of two recently
created independent director positions.
Naqvi is chief executive officer of DeepGreen Financial, an online home-
equity lender that has made more than $5 billion in loans since its inception
in 2000. Prior to joining DeepGreen early in 2005, he held CEO positions with
PNC Mortgage and Setara Corporation. Previously, he was chief operating
officer of Sears Mortgage Securities Corporation, which was acquired by PNC in
1993. He serves on the board of directors of Hanover Capital Mortgage
Holdings and is a former member of the board of directors of the Mortgage
Bankers Association of America.
"Sy Naqvi is a mortgage-industry visionary whose innovative outlook and
management experience will be welcome additions to the Genworth board as it
continues to add talent and independence," said Michael D. Fraizer, chairman
and chief executive officer. "Beyond tapping his extensive business skills to
help guide our growing lifestyle protection, retirement income and investment
businesses, we are particularly excited to gain Sy's expertise in using
technology to increase home ownership as our mortgage insurance operations
expand in the U.S. and around the globe."
Genworth's board composition was expanded by two independent positions as
a result of the reduction in holdings by its former parent, the General
Electric Company. Nancy J. Karch, director emeritus and retired senior partner
of international consulting firm McKinsey & Company, was elected to one of
those positions on Oct. 28.
About Genworth Financial
Genworth Financial, Inc. (NYSE: GNW) 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 24 countries, including the U.S., Canada, Australia, the U.K. and more than
a dozen other European countries. For more information, visit
SOURCE Genworth Financial, Inc.
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