Best’s News & Research Service - April 09, 2014 02:30 PM (EDT)
Voya Financial Taps Protective Life Exec as New President of Annuities
WINDSOR, Conn. //BestWire// - Voya Financial Inc., the new brand for ING U.S. Inc., said it has hired Carolyn M. Johnson as president of its annuities business segment, effective April 7.
Johnson is responsible for product, distribution, financial management and operational performance in the annuities segment, which is an integral part of Voya's retirement solutions operations. Johnson is also part of the executive leadership team for retirement solutions and will collaborate on business strategy and corporate-wide initiatives.
Johnson most recently led life insurance and annuities business at Protective Life Corp., as executive vice president and chief operating officer. With more than 25 years of experience in financial services, she also oversaw the consolidation of Protective Life's three insurance companies and helped lead four acquisitions.
Voya is focused on driving growth and long-term success in the annuity and retirement income markets, the company said.
On April 7, Voya Financial (NYSE: VOYA) began using its official name as part of the multistep rebranding process of ING U.S.
On May 1, ING U.S. Investment Management will rebrand to Voya Investment Management. The employee benefits business also will begin to transition to Voya Financial, and expects to complete this transition by September. On Sept. 1, all remaining ING U.S. businesses will start using the Voya Financial brand and all ING U.S. legal entities that incorporate the ING name will change to Voya (Best's News Service, April 7, 2014).
Amsterdam-based ING Group divested its global insurance, ING Direct, in the United States only, as part of a US$13 billion bailout from the Dutch government during the global financial crisis.
Companies of ING U.S.A. Life Group have a current Best's Financial Strength Rating of A (Excellent).
On April 9, shares of Voya Financial were trading at $36.29, up 1.06% from the previous close.
(By Marie Suszynski, Best's News Service correspondent)