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Leadership Changes Announced at Jackson National Life Insurance CompanyJackson National Life Insurance Company® (Jackson®) today announced several changes in senior leadership, including the impending departure of Clifford Jack as executive vice president and head of retail at the end of the year to pursue other opportunities. Since joining Jackson in 1995 as a senior vice president, Jack has held a series of leadership positions in the firm. He was instrumental in the development of Jackson's variable annuity product line and has been a key architect of Jackson's industry-leading distribution and organic growth strategy. Jack also launched National Planning Holdings®, Inc., Jackson's affiliated broker-dealer network, and Curian Capital,® LLC, Jackson's asset management subsidiary, serving as the first president and chief executive officer for both firms. He served as the chairman of the Insured Retirement Institute during the turbulent global financial crisis and is currently involved with many local charities. "I personally thank Clifford for his dedication, exceptional leadership and friendship over the past two decades, as well as his many accomplishments and contributions to Jackson's success," said Michael Wells, Jackson's president and chief executive officer. "He will be truly missed, and we wish both Clifford and his family all the best in the future." Greg Cicotte will assume the role of head of U.S. wealth management and distribution, a newly created position that will replace the role held by Jack. Cicotte currently serves as president of Jackson National Life Distributors LLC (JNLD), the sales and marketing arm of Jackson. In Cicotte's new role, he will be responsible for overall product, marketing and distribution strategy and execution across all of Jackson's U.S. businesses. He will report to Wells. In conjunction with Jack's impending departure, Jackson also announced the following senior management changes:
About Jackson Jackson is a leading provider of retirement solutions for industry professionals and their clients. The company offers a diverse range of products including variable, fixed and fixed index annuities designed for tax-efficient accumulation and distribution of retirement income for retail customers, and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. With $206.8 billion in assets*, Jackson prides itself on product innovation, sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, the company develops proprietary research, industry insights and financial representative training on retirement planning and alternative investment strategies. Jackson is also dedicated to corporate social responsibility and supports charities focused on helping children and seniors in the communities where its employees live and work. For more information, visit www.jackson.com. Jackson is the marketing name for Jackson National Life Insurance Company (Home Office: Lansing, Michigan), Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York) and Jackson National Life Distributors LLC. *Jackson has $206.8 billion in total IFRS assets and $192.6 billion in IFRS policy liabilities set aside to pay primarily future policyowner benefits (as of 6/30/14). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent company. A variable annuity is a long-term, tax-deferred investment designed for retirement, involves investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59 ½. Variable annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. May not be available in all states, and state variations may apply. These products have limitations and restrictions, including withdrawal charges and excess interest adjustments (interest rate adjustments in New York) where applicable. Jackson issues other annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information. Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups. It has been in existence for over 160 years and has $781.1 billion in assets under management as of June 30, 2014. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America. The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.
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