Products October 27, 2009

AXA Launches Resources for Women

AXA Equitable Life Insurance Company recently launched a program to attract women consumers and financial professionals.

Reported by

The program, “The AXA Equitable Connection: Women, Wealth and Wisdom” aims to connect women consumers to the education, resources, and guidance needed to take control of their finances, the company said. Additionally the program is designed to build a community that enhances workplace opportunities for growth and development for female employees and financial professionals.

“Ultimately, we want to be the first company women think of when seeking financial information and guidance, as well as the first company they consider when interested in pursuing a career in financial services,” said Barbara Goodstein, executive vice president and chief innovation officer for AXA Equitable.

AXA Equitable unveiled a section on its Web site focusing on five areas, each with tips and tools: Women Taking Charge of Their Finance; Money Made by Women; Women Protecting Their Loved Ones; Women Educating Their Children; and Making a Woman’s Legacy Come True.

“The financial needs of women are different from men, especially when planning for retirement,” said Goodstein. “Women tend to live longer, work fewer years, make less money, and invest more conservatively. As a result, their money needs to last longer, and we want to make sure they have at their disposal the tools and resources that empower them.”

As part of the new program, AXA also said it plans to connect female employees and financial professionals through events, mentoring relationships, employee resource groups, and networking.

More information is available at www.axa-equitable.com/women.

Deals & People October 27, 2009

McCann in to Head UBS Wealth Management

Now that his dispute with Bank of America (BofA) is behind him, Robert McCann will now step in as CEO of Wealth Management Americas at UBS.

Reported by

UBS announced today that McCann will immediately assume responsibility for the firm’s domestic wealth management businesses in the U.S. and Canada, leading nearly 8,000 financial advisers in more than 320 branches.

McCann most recently served as president of Global Wealth Management at Merrill Lynch, which he left soon after it was acquired by BofA. He recently settled a lawsuit with Bank of America over his non-compete clause, which prevented him from taking the job at rival bank UBS, according to news reports (see “McCann Sues BofA, in Talks with UBS”).

“Coming to UBS is a once-in-a-lifetime opportunity to join a leading global wealth manager,” McCann said, in a statement. “It is a firm that I always considered to be a tough competitor and I will add my energy and ideas to the turnaround underway. The domestic Americas business represents an enormous wealth management opportunity for UBS. I see tremendous long-term potential growth for clients, employees, and shareholders.”

In addition to heading the brokerage unit, McCann held a variety of executive leadership roles during his 26 years at Merrill Lynch. Previous roles he held during his tenure included vice chairman of the Wealth Management Group, which included Global Private Client and Merrill Lynch Investment Managers; head of Global Securities Research; chief operating officer of Global Markets and Investment Banking; head of Global Institutional Sales; and head of Global Equity Trading and Markets.

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