He also will be elected to the Genworth board of directors. James S. Riepe will continue to serve as the company’s non-executive chairman of the board. The appointment is effective January 1, 2013.
McInerney has many years of experience in financial services, previously holding senior leadership positions at both ING Groep and Aetna Financial Services. Most recently, he served as an adviser to The Boston Consulting Group. At ING, he was chief operating officer and a member of the Management Board for Insurance. Before that, he was CEO of ING Americas, overseeing insurance, pension and investment management businesses in the U.S., Canada and Latin America.
Before joining ING, McInerney was at Aetna for more than 20 years, where his roles included president of Aetna Financial Services. He was responsible for Aetna’s retirement services, life insurance and annuities, and investment management businesses. As vice president of strategy, he was deeply involved in the transformation of Aetna through the sale of its property and casualty business and subsequent acquisition of U.S. Healthcare.
“We are very pleased to have someone with Tom McInerney’s breadth of experience and record of achievement step into this role at Genworth,” Riepe said. “With his extensive expertise in insurance and investment management, exposure to the global financial services markets, and proven track record of execution, Tom will provide strong leadership at this important time for the company as we continue towards our goal of rebuilding value for our shareholders and other stakeholders.”
McInerney graduated with honors from Colgate University in 1978 with a bachelor’s degree in economics, and received an MBA with a concentration in finance and investments from the Tuck School of Business at Dartmouth. For many years, he has been active with the American Council of Life Insurers and the Financial Services Roundtable, serving on each association’s board and CEO committee.