Deals & People March 22, 2011

Kandarian to Become President and CEO of MetLife

The board of directors of MetLife, Inc. announced that Executive Vice President and Chief Investment Officer Steven A. Kandarian will become MetLife’s president and chief executive officer on May 1, 2011.
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Kandarian will also be nominated for a seat on MetLife’s board at the company’s annual shareholder meeting in April. C. Robert Henrikson, who in 2012 will reach MetLife’s executive management mandatory retirement age, will continue to serve as chairman of the board during a transition period through year-end 2011.    

Kandarian joined MetLife as chief investment officer in April 2005. Prior to joining MetLife, Kandarian was the executive director of the Pension Benefit Guaranty Corporation (PBGC) from 2001 to 2004 (see “PBGC Head Steps Down to Spend More Family Time”). 

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Before joining PBGC, Kandarian was founder and managing partner of Orion Partners, LP. From 1990 to 1993 he served as president and founder of Eagle Capital Holdings and, prior to that, served as managing director of Lee Capital Holdings, a private equity firm based in Boston.   

He received a B.A. from Clark University, a J.D. from Georgetown University Law Center, and an M.B.A. from Harvard Business School.

Products March 22, 2011

OneAmerica Distributing Premier Trust Solution through Reps

McCready and Keene, a OneAmerica company, announced that its trust solution platform, Premier Trust, is available for distribution via registered representatives.
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“The ability to sell a retirement plan on the Premier Trust platform means registered representatives can now offer clients greater flexibility with a robust and extensive array of fund options,” said Bill Yoerger, senior vice president of the retirement services division of American United Life Insurance Company (AUL), a OneAmerica company.   

Premier Trust was launched in late 2010 targeted to plans with assets of $5 million and above (see “OneAmerica Launches Trust Offering”).It provides full fee transparency and can use open architecture to provide access to thousands of mutual funds, or plan sponsors can choose from a pre-screened line-up of 200 investment options from 38 fund families.    

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In addition, the program offers quarterly due diligence reporting and a customized approach based on an open investment platform.   

Wilmington Trust will serve as trustee and trading partner for Premier Trust plans sold by registered representatives.

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