AXA Equitable Life Insurance Co.’s board elected Andrew McMahon as president of its Financial Protection and Wealth Management business, James Shepherdson as president of its Retirement Savings business, and Richard V. Silver as chief administrative officer and chief legal officer. The three executives, along with Richard Dziadzio, CFO, were also elected as senior EVPs of AXA Equitable. All four, previously EVPs, will continue to report to Christopher "Kip" Condron, chairman and CEO of AXA Equitable.
"These roles have been created to help support our vision to be the industry leader in providing financial advice and solutions to clients," says Condron, whom parent company AXA Group recently named to the additional position of head of the group's global Life & Savings and Health businesses. "Our strategic plan focuses on three key areas: expanding and diversifying our product portfolio to serve the needs of existing and new markets, building distribution to effectively deliver a broader range of products to a wider array of clients, and optimizing the management of our substantial and valuable in-force business."
Financial Protection and Wealth Management — McMahon will have overall responsibility for life insurance manufacturing, marketing, distribution, and in-force management. He will continue to lead AXA Advisors, AXA's highly regarded agent distribution system.
Retirement Savings — Shepherdson will have overall responsibility for annuity product manufacturing, third-party distribution, marketing, and in-force management. Additionally, he will lead product manufacturing for the employer-sponsored markets. He will continue to lead AXA Distributors and AXA Global Distributors.
Strategic Shared Services — Silver will oversee IT; central marketing, innovation and communications; external affairs; and the strategic initiatives group. He will continue to be responsible for the law department and the funds management group.
Finance — Dziadzio will continue as CFO with responsibility for the finance and related areas.
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