Deals & PeopleDecember 9, 2009

Cornelio Tapped for Lincoln DC Post

<p>Charles C. Cornelio, who most recently served as chief administrative officer of Lincoln Financial, has been named president of Lincoln’s Defined Contribution business, effective immediately.</p>

Reported by Fred Schneyer

A Lincoln news release said that in this new role Cornelio will partner with Lincoln’s manufacturing and distribution platforms (Lincoln Financial Distributors). While he will retain oversight for certain centralized services that are critical to the success of Lincoln’s DC business and other business lines, the remainder of his previous responsibilities have been reassigned to other areas within the company, according to the company.

“Defined contribution programs are critical to helping many Americans rebuild their retirement savings,” said Dennis Glass, president and CEO, Lincoln Financial Group.

Lincoln also announced that Mark E. Konen, president of Retirement and Insurance Solutions, will take on added responsibilities as co-chair of the company’s Investment Management Committee and co-vice chair of the Risk Management Committee.

Also, as a result of the pending sale of Delaware Investments, Chief Financial Officer Fred Crawford will assume responsibility for a new General Account Investment Strategies team, which will provide strategic oversight of the insurance general account activities, the company said.