American General Realigns Operations Into Two Strategic Business Units -- Asset Accumulation and Financial Services.Business Editors HOUSTON--(BUSINESS WIRE)--Nov. 8, 2000 American General (NYSE NYSE See: New York Stock Exchange :AGC AGC Automatic Gain Control AGC Automotive Glass Cartridge (fuse) AGC Associated General Contractors AGC Associated General Contractors of America AGC Atypical Glandular Cells AGC Attorney-General's Chambers ) today announced that it has realigned its operations into two strategic business units -- asset accumulation and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . As part of this realignment re·a·lign tr.v. re·a·ligned, re·a·lign·ing, re·a·ligns 1. To put back into proper order or alignment. 2. To make new groupings of or working arrangements between. , John A. Graf has been promoted to senior vice chairman - asset accumulation, and Rodney O. Martin Jr. has been promoted to senior vice chairman - financial services. In commenting on the announcement, Robert M. Devlin, chairman and 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. , said, "This realignment of our operations will enable American General to build on our progress in becoming a more comprehensive provider of financial products and services. With an expansive distribution network and market-responsive product portfolio, we are now uniquely qualified to meet a broader spectrum of our customers' lifetime financial needs. The promotion of John and Rod to these positions recognizes their outstanding achievements and leadership in building one of the premier financial services franchises in the nation. I look forward to their continued contributions as we realize our vision for American General." As senior vice chairman - asset accumulation, Graf is responsible for the company's retirement services, investment management, and mutual fund operations, as well as enterprisewide information technology. Richard W. Scott, vice chairman - investment management, who oversees American General's $74 billion investment portfolio, reports to Graf. Graf, 41, most recently served as vice chairman and group executive - retirement services. He joined American General as president of retirement services in 1998. Previously, he served as vice chairman, chief marketing and administrative officer of Western National Corporation. Graf has 20 years of experience in the financial services industry and began his career with John Hancock. A native of Chicago, Ill., Graf received his B.A. in economics from the University of Illinois University of Illinois may refer to:
As senior vice chairman - financial services, Martin is responsible for life insurance, consumer finance, and international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , as well as enterprisewide administration. Frederick W. Geissinger, vice chairman - consumer finance, reports to Martin. Martin, 48, most recently served as vice chairman and group executive - life insurance. He joined American General as president and chief executive officer of one of its New York-based life insurance subsidiaries in 1995 and assumed responsibility of the company's entire life insurance organization as chief executive officer of American General Life Companies in 1997. Prior to joining American General, Martin's career included 20 years of service with Connecticut Mutual where he held a variety of senior management positions, including president of Connecticut Mutual Insurance Services. A native of Portland, Maine, he received his B.S. degree in business administration from Alfred University in 1974. American General is one of the nation's largest diversified financial services organizations with assets of $123 billion and market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of $20 billion. Headquartered in Houston, it is a leading provider of retirement services, investments, life insurance, and consumer loans to 12 million customers. American General common stock is listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Pacific, London, and Swiss stock exchanges. |
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