Capital-management expert Thomas ''Tim'' J. Helotes appointed vice president, corporate finance, for WellPoint Health Networks Inc.WOODLAND HILLS, Calif.--(BUSINESS WIRE)--Nov. 14, 1996-- Financial skills critical to support WellPoint's national expansion strategy WellPoint Health Networks Inc. (NYSE NYSE See: New York Stock Exchange :WLP WLP WebLogic Portal (Bea Systems) WLP Wafer Level Packaging WLP Women's Learning Partnership (Bethesda, MD) WLP Workplace Learning & Performance WLP World Library Partnership, Inc. ) has named Thomas ``Tim'' J. Helotes to the newly created position of vice president, finance, responsible for WellPoint's corporate legal entities. The appointment was announced Thursday by Howard Phanstiel, executive vice president, finance and information systems. Helotes will be responsible for supporting the firm's growth with strategic reorganization of the legal structure of corporate entities to facilitate and enhance expansion. He will coordinate and monitor capital adequacy and other regulatory issues, as well as interact with regulators and rating agencies. Helotes will also be involved in setting subsidiary dividend policies as well in evaluating their capital requirements Capital requirements Financing required for the operation of a business, composed of long-term and working capital plus fixed assets. . As VP of finance, Helotes will ensure that the company maintains the financial flexibility and strength necessary for future acquisitions. ``Tim comes to us with 17 years of financial experience,'' said Phanstiel. ``His expertise in risk management and strategic financial reorganization will serve us well as we refine our internal legal structures to support WellPoint's continuing growth.'' Helotes came to WellPoint from Wells Fargo/First Interstate Bank of California The Bank of California was founded in San Francisco, California on July 5, 1864 by William Chapman Ralston. It was the first commercial bank in the Western United States, the second-richest bank in the nation, and considered instrumental in developing the American Old West. in Los Angeles, where he has served in corporate banking since 1994. While at First Interstate, Helotes was designated as an insurance-industry expert for the bank system. His 17 years of experience includes specializing in insurance risk, business development and client relationships, credit pricing and structuring, credit analysis, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. and financial management for strategic reorganization. Previous positions chronologically include market risk project manager, for Standard Chartered Bank Standard Chartered Bank (LSE: STAN, HKSE: 2888 ) is a British bank headquartered in London with operations in more than fifty countries. It operates a network of over 1,600 branches (including subsidiaries, associates and joint ventures) and employs almost 60,000 in London; capital markets risk manager, for First Interstate Bank, Los Angeles; vice president, First Interstate Public Finance Co.; and various positions in the First Interstate system, beginning in 1978. WellPoint Health Networks is one of the nation's largest publicly traded managed-health-care companies, serving the health-care needs of approximately 4.4 million medical members. WellPoint offers a comprehensive array of quality network health plans provided through its health-maintenance organization, preferred- provider organization and specialty managed-health-care networks. Specialty products include pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , dental, vision, mental health, life and disability insurance, flexible spending accounts flexible spending account, n an employee reimbursement account primarily funded with employee-designated salary reductions. Funds are reimbursed to the employee for health care (medical and/or dental), dependent care, and/or legal expenses and are , Medicare supplement, and 24-hour integrated, network-based workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. . CONTACT: WellPoint Health Networks Inc., Woodland Hills Cynthia Coulter, 818/703-3046 |
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