Phoenix Cos. Chief Wehr optimistic.The new chief of U.S. life insurer Phoenix Cos. Inc. is optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the company's strategy that includes building new distribution channels and rolling out alternative retirement-income products as a way to resolve some recent financial strength issues. [ILLUSTRATION OMITTED] James O. Wehr, formerly Phoenix's chief investment officer and senior executive vice president, took over as president and chief executive officer, succeeding Dona D. Young, who retired from the Hartford, Conn.-based company after 29 years. In early March, Phoenix said it was building its future business in ways that will be "less capital intensive and ratings sensitive,' Its strategy includes shifting the focus of new business to private labeling, expanding alternative retirement products and developing new distribution channels for core products. As CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. , Wehr said he already had a challenging assignment as he was in the epicenter ep·i·cen·ter n. 1. The point of the earth's surface directly above the focus of an earthquake. 2. A focal point: stood at the epicenter of the international crisis. of the market meltdown meltdown Occurrence in which a huge amount of thermal energy and radiation is released as a result of an uncontrolled chain reaction in a nuclear power reactor. The chain reaction that occurs in the reactor's core must be carefully regulated by control rods, which absorb . He joined Phoenix in 1981 and held a series of senior investment-related positions. As CIO, Wehr oversaw o·ver·saw v. Past tense of oversee. the life insurance company's general account and affiliated investment portfolios and directed the public fixed income group. Phoenix will be a smaller company, as well as "open-minded and considerate con·sid·er·ate adj. 1. Having or marked by regard for the needs or feelings of others. See Synonyms at thoughtful. 2. Characterized by careful thought; deliberate. +of other segments of the market" in addition to the high-net-worth market it previously focused on,Wehr said. The affluent market "was clearly an important part of our distribution focus" |
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