Hartford Financial Names AIG Executive Swift As Financial Chief
Date : 02/16/2010 @ 5:31PM
Source : Dow Jones News
Stock : Hartford Financial Services Group Inc. (HIG) http://ih.advfn.com/p.php?pid=nmona&cb=1266386857&article=41580090&symbol=NY^HIG
Hartford Financial Services Group Inc. (HIG) named Christopher Swift chief financial officer, effective March 1.
He will succeed Lizabeth Zlatkus, who previously was appointed chief risk officer as the insurer beefs up risk management after last year's financial crisis. She will assume her new post the same day.
Swift, 49 years old, previously was vice chairman and financial chief at American Life Insurance Co., American International Group Inc.'s (AIG) international life-insurance subsidiary. Last week, life insurer MetLife Inc. (MET) confirmed it was in discussions with AIG to acquire Alico but cautioned that it would do a deal only if it could do so in a way that was beneficial to MetLife shareholders.
Both Swift and Zlatkus will report to Chairman and Chief Executive Liam McGee, a former head of consumer banking at Bank of America Corp. (BAC) who was named Hartford chief executive last fall.
A number of executives have left Hartford, which has been hit hard by its sales of variable annuities, which left it with big potential liabilities when the stock market tumbled.
Swift began his career as an auditor at KPMG LLP focused on financial services and became a partner by age 32. He later was named head of global insurance industry practice at that firm. Harford's shares were at $23.78, down 0.7%, in after-hours trading. The stock has gained 92% in the past year.
-By Kathy Shwiff, Dow Jones Newswires; 212-416-2357; Kathy.Shwiff@dowjones.com