A Securian news release said while Shay will retain his leadership of the retirement services unit, the change means he will also take on responsibility for Securian’s individual life insurance product manufacturing and the Independent Distribution Group, which markets the individual life insurance offerings.
Shay will continue to report to Randy Wallake, president and vice chair of Securian, and assume his additional responsibilities March 1.
Shay joined Securian’s retirement division in 1985. After serving in various sales and management positions, he was named vice president of the division in 2002 and senior vice president in 2004. Shay’s responsibilities were expanded in 2005 to include the individual annuity product line.