AIG Names CEO of Retirement Services

American International Group, Inc. (AIG), announced that Jay S. Wintrob has been named to the new position of president and chief executive officer of Domestic Life and Retirement Services.

Wintrob, formerly president and CEO of AIG Retirement Services, will lead AIG’s U.S.-based life insurance and retirement services businesses, which market their products and services under the American General, AGLA, SunAmerica, VALIC, and Western National.

The unified businesses will offer a suite of life and retirement savings products through a multi-channel distribution network that includes banks, national, regional, and independent broker/dealers, career financial advisers, wholesale life brokers, insurance agents, and a direct-to-consumer platform, the company said.

Wintrob was named president and CEO of AIG Retirement Services in 2001. He previously served as senior vice president, executive vice president, vice chairman, and chief operating officer. He also served as president of SunAmerica Investments, Inc., from 1994 through 2000, overseeing the company’s invested asset portfolio.

AIG also announced that Mary Jane Fortin, currently senior executive vice president, chief administrative officer, and chief financial officer of the domestic life companies, has been named president and CEO of American General Life Companies. Fortin, as well as each Retirement Services profit center president, will report to Wintrob.

Fortin joined the American General Life Companies as executive vice president and chief financial officer in 2006. Prior to joining American General, she was a senior executive with the Hartford Financial Services Group, Inc., where she served as senior vice president and director of Mutual Funds and 529 Programs and president and CEO of the Canadian Mutual Fund business. She previously served as senior vice president and chief accounting officer for Hartford Life. Fortin has also held audit positions with PricewaterhouseCoopers and Arthur Andersen.

New ETF Offers Short Exposure for Long-Term Treasuries

ProFunds Group has launched an exchange-traded fund (ETF) designed to provide short exposure to the market for long-term U.S. Treasury bonds.

A news release said the ProShares Short 20+ Year Treasury (TBF), listed today on the NYSE Arca, is built to produce 100% of the inverse performance of the Barclays Capital 20+ Year U.S. Treasury Index for a single day, excluding fees and expenses.

The Barclays Capital 20+ Year U.S. Treasury Index measures the performance of U.S. Treasury bonds with maturities of 20 years or greater.


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