American Express Hires New Head of Insurance and Annuities.Business Editors MINNEAPOLIS--(BUSINESS WIRE)--Jan. 8, 2004 American Express American Express (NYSE: AXP), sometimes known as "AmEx" or "Amex", is a diversified global financial services company, headquartered in New York City. The company is best known for its credit card, charge card and traveler's cheque businesses. Financial Advisors Inc., a unit of American Express Company, (NYSE NYSE See: New York Stock Exchange :AXP The brand name Digital gave to its first family of Alpha-based computers. In 1998, Digital was acquired by Compaq. See Alpha. ) announced today the hiring of Mark Schwarzmann, Senior Vice President of Insurance and Annuities, a new position within the company. In his role as head of Insurance and Annuities, Schwarzmann will assume responsibility for driving new sales of life, health and annuity products while pursuing other expansion opportunities. Schwarzmann will report to Jim Cracchiolo, Chief Executive Officer of American Express Financial Advisors. "Mark Schwarzmann is a valuable and welcome addition to our company," according to Cracchiolo. "He is a veteran of the insurance industry and brings a wealth of experience and expertise to our insurance and annuity business lines." Schwarzmann comes to American Express Financial Advisors from Allfinanz, a software company that produces processing and automation software for the insurance industry, where he served as CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . Prior to joining Allfinanz in 2000, Schwarzmann served as Senior Vice President of Wealth Management Services at GE Financial Assurance where he was responsible for developing the market strategy for variable life products, trust products and long-term health care insurance business products. In his role as SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul of Financial Institution Services from 1997 to 2000, Schwarzmann successfully integrated the distribution activities of 14 insurance and investment companies acquired by GE Financial Assurance. Originally from New Jersey and a graduate of Lafayette College in Pennsylvania, Schwarzmann will be re-locating to the Minneapolis area from Virginia. American Express Financial Advisors is one of the nation's leading financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against companies. More than 10,200 American Express financial advisors help manage the personal economies of more than 2.7 million clients through comprehensive long-term financial planning and high quality financial products. For more information, visit the company's website at americanexpress.com. American Express Financial Advisors Inc. Member NASD NASD See: National Association of Securities Dealers NASD See National Association of Securities Dealers (NASD). . American Express Company is separate from American Express Financial Advisors Inc. and is not a broker-dealer. |
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