Phoenix Announces Organizational Changes.HARTFORD Hartford, city (1990 pop. 139,739), state capital, Hartford co., central Conn., on the west bank of the Connecticut River; settled as Newtown 1635–36 on the site of a Dutch trading post (1633; abandoned 1654), inc. 1784. , Conn. -- The Phoenix Companies, Inc. (NYSE NYSE See: New York Stock Exchange : PNX PNX can stand for:
--Moving Distribution into its Asset Management and Life & Annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. business lines to align align (  līn),v to move the teeth into their proper positions to conform to the line of occlusion. more closely distribution with manufacturing, including product development and operations. --Establishing a new Chief Marketing Officer and Strategic Business Development position and appointing John F. Sharry, 52, senior vice president. --Appointing George R. Aylward, 40, vice president, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Asset Management. With Distribution moving to the business lines, Phoenix also announced that Michael J. Gilotti, 57, executive vice president, Wholesaling Distribution & Marketing, has decided to pursue opportunities outside of Phoenix, but has agreed to stay until the end of the year to assist with the transition. "The changes announced today will improve our execution on sales, marketing and product development. We recognize that we have to continue to improve the financial performance of the company, including bottom line profitability, sales and net asset flows, and this structure should enhance accountability and our performance around these key drivers," said Dona D. Young, chairman, president and chief executive officer of Phoenix. "Looking back, I am grateful for Mike Gilotti's contributions to our management team over the past five years, including establishing an annuity distribution group and building a distribution organization that has attracted talented sales people, which will continue to serve us very well." More specifically, Phoenix is: --Moving Distribution into the business lines to more closely align this key function with Manufacturing, including the product development process and operations. As a result, Daniel T. Geraci, executive vice president, Asset Management, will add Distribution to his Manufacturing responsibilities. Stephen D. Gresham, 43, vice president, Asset Management Distribution and Sales, will assume responsibility for Asset Management Distribution and Sales. He will report to Mr. Geraci. Philip K. Polkinghorn, executive vice president, Life and Annuity, will have responsibility for Distribution in this area, with Robert E. Primmer, senior vice president, continuing to head up Life Distribution and Sales, and Mark R. Tully, senior vice president, continuing as head of Annuity Distribution and Sales. Both will report to Mr. Polkinghorn. --Establishing a new Chief Marketing Officer and Strategic Business Development position and appointing John F. Sharry, senior vice president. The new position will focus management attention on new business development from an enterprise-wide perspective, along with continuing to oversee a consolidated marketing function. He will report to Mrs. Young. Mr. Sharry has led Asset Management Distribution since 1995, and during his tenure has expanded and diversified diversified (di·verˑ·s the company's retail investment product line to include managed accounts in addition to the core mutual fund business. He was also responsible for integrating marketing and marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales functions in support of the company's three business lines - life, annuity and asset management. --Appointing a Chief Operating Officer for Asset Management. Effective early November, George R. Aylward will oversee all operational areas in Asset Management, including, for example, fund accounting and tax, and financial operations. He will report to Mr. Geraci. As Chief of Staff to the 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. for the last two years, Mr. Aylward has had increasingly responsible roles in tracking progress in Phoenix's businesses, helping execute overall strategy, and playing a key role in developing the company's IT transformation strategy. A Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. , he joined Phoenix in 1996 and previously served in increasingly senior financial positions in Asset Management. The Phoenix Companies, Inc. is a leading manufacturer of life insurance, annuity and asset management products for the accumulation, preservation and transfer of wealth. Through a variety of advisors 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. firms, the company provides products and services to affluent and high-net-worth individuals and to institutions. Phoenix has corporate office in Hartford, Connecticut “Hartford” redirects here. For other uses, see Hartford (disambiguation). Hartford is the capital of the State of Connecticut. It is located in Hartford County on the Connecticut River, north of the center of the state. . For more information on Phoenix visit www.PhoenixWealthManagement.com |
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