Jackson National Life Insurance Co. Vice Chairman and COO Mike Wells was appointed as president and CEO of Jackson, and as an executive director of the Prudential plc Board of Directors, by Prudential plc, the company’s London-based parent company.
Jackson says Wells will succeed Clark Manning, who will step down as CEO at the end of 2010 and will serve as chairman of Prudential plc’s U.S. operations until April 30, 2011. Manning then will enter into an advisory role that will continue until the end of 2011, Jackson adds.
Wells joined Jackson in 1995 as president of Jackson National Life Distributors LLC, the marketing and distribution arm of Jackson, and played an integral role in the development of Jackson’s first variable annuity and fixed index annuity products, according to Jackson. He has experienced multiple promotions and achievements: Jackson recorded $2.3 billion in total sales when Wells joined the firm in 1995, compared to total sales and deposits of $15.2 billion in 2009, and as of the end of 2009, 87% of the company’s U.S. employees fell within Wells’ reporting structure, Jackson says.
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