KENNETH ANDREW TO SUCCEED JAMES R. BAILEY AT AETNA FINANCIAL MANAGEMENT INTERNATIONAL, LTD.
KENNETH ANDREW TO SUCCEED JAMES R. BAILEY AT AETNA FINANCIAL MANAGEMENT INTERNATIONAL, LTD. LONDON, Dec. 19 /PRNewswire/ -- Aetna Financial Management International, Ltd. (AFMIL) announced today that Kenneth Andrew will succeed James R. Bailey as managing director of AFMIL, effective on Bailey's retirement date of Dec. 31, 1991. AFMIL, a wholly owned subsidiary of the U.S. insurance and financial services organization, Aetna Life and Casualty Company (NYSE: AET), is a member of Aetna's international group with responsibility for both United Kingdom insurance operations and a worldwide network of investment management organizations. "Aetna's U.K. operations have much to be thankful for as a result of Jim's leadership and dedication," according to John W. Rosensteel, senior vice president of Aetna International, Inc. and non-executive chairman of AFMIL. "During his three-year assignment, Jim has successfully managed a complete restructuring of the companies, refocused the U.K. insurance operations to a niche marketing strategy, and overseen the establishment of Aetna's new international investment management organization." Kenneth Andrew joined Aetna earlier this year to establish and organize the international investment management network. With today's appointment, Andrew will assume the added responsibility for U.K. insurance operations. Over a 22-year career, Andrew has held senior positions for international financial companies including National & Provincial Building Society, Chase Manhattan Bank and National Westminister Bank. He holds several degrees, including First Class Honors in production engineering from the University of Wales, a master of science in operational research and management studies from the University of London, and a master of philosophy (honorary) and doctor of philosophy from the International Management Centre in Buckingham. "Ken's new role and responsibilities will present an exciting challenge," said Rosensteel. "With his extensive experience and record of success, coupled with the strong staff that is in place, we have every confidence that AFMIL will be a very profitable contributor to Aetna International." AFMIL oversees U.K. life and related insurance operations as well as a network of investment management companies in London, Sydney, Hong Kong, Taipei and Tokyo. Funds under management for the combined operations currently total $4.2 billion. -0- 12/19/91 /CONTACT: Jonathan Powell of Aetna, 203-273-7057, or Veronica France of Aetna (U.K.), 071-837-6494/ (AET) CO: Aetna Life and Casualty; Aetna Financial Management International ST: Connecticut IN: INS FIN SU: PER
SH -- NE001 -- 3722 12/19/91 09:02 EST
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|Date:||Dec 19, 1991|
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