RICHMOND, Va., Feb. 1 /PRNewswire-FirstCall/ -- Genworth Financial Inc.
(NYSE: GNW) has named Cheryl C. Whaley senior vice president in charge of the
company's newly expanded capital markets and growth ventures unit, created as
part of the company's recently announced organizational realignment.
"Leveraging the capital markets in the most effective manner is an
important part of our strategy and our future, and Cheryl is uniquely
qualified to lead this effort," said Michael D. Fraizer, chairman and chief
executive. "Doing so helps us manage risk, optimize our use of capital and
product profitability, and support new business models. Genworth has been a
market leader in this area, as exemplified by our pioneering term and
universal life reserve securitization transactions."
In her new role, Whaley will lead strategies which take advantage of
capital markets access and structures across Genworth's business segments and
oversee specialized teams with expertise in these areas.
Genworth recently announced a significant repositioning into three
operating segments. An expanded Retirement and Protection segment will include
retirement income, managed money, life insurance, long term care insurance,
and institutional. A new International segment will include international
mortgage insurance and payment protection insurance. U.S. Mortgage Insurance
is the third operating segment.
"As part of our intensified focus on markets where we have scale and
leadership, we must create capital markets solutions that leverage our
strengths and enhance our profitability," Whaley said. "I am excited to be
working with wonderful teams across our businesses to devise new and improved
solutions that help our customers, distributors and investors."
Whaley had been head of Genworth's growth ventures team and a key catalyst
in its efforts to build and strengthen competitive strategies.
Prior to joining Genworth, Whaley spent nine years at Genworth's pre-IPO
insurance businesses and other GE Insurance entities. She held leadership
roles at GE Financial Assurance, including president and CEO of GE Capital
Life Assurance Company of New York and American Mayflower Life Insurance
Company of New York and previously was the managing director, public finance,
at Financial Guaranty Insurance Corporation.
Whaley also has held strategic planning and business development posts at
CNBC, and earlier worked at CS First Boston, Northwest Airlines and Bain &
Company. Whaley graduated from Wellesley College and holds an MBA from Harvard
University.
About Genworth Financial
Genworth is a leading financial security company meeting the retirement,
longevity and lifestyle protection, investment and mortgage insurance needs of
more than 15 million customers, with a presence in more than 25 countries.
For more information, visit http://www.genworth.com.
SOURCE Genworth Financial, Inc.
CONTACT: Philip Moeller of Genworth Financial Inc., +1-804-662-2534,
Philip.Moeller@genworth.com
