New York Life Insurance Company named Ted Mathas as CEO-elect. He retains his title as president and will succeed CEO Sy Sternberg when he retires on June 30, 2008. Sternberg, who has been CEO for more than a decade, will remain chairman
of the New York
Schwab Institutional announced that the executive in charge of sales, Bernie Clark, will expand his responsibilities to include all of Schwab's practice management programs for advisors, along with technology consulting and Schwab Performance Technologies, the portfolio management software subsidiary which recently acquired Etelligent Consulting.
Prudential Retirement appointed James Cornell as senior VP and chief marketing officer. Frank Waltman has also joined Prudential Retirement as head of the Investment Products team, with overall management responsibility for the Prudential Retirement investment platform.
Vanguard's Board has elected William McNabb as its new president and as a director effective March 1, replacing John Brennan, who will remain chairman (see IA Interview, page 31).
Associated Financial Group, the holding company of Associated Securities Corporation, appointed J. Andrew Kalbaugh as chairman and CEO of the holding company and firm, effective on March 31. He replaces John Dixon, who will retire from both positions. Kalbaugh was also named chairman of Mutual Service Corporation and will remain CEO at MSC.
AXA Equitable Life Insurance Company named Vincent Parascandola president of the Advantage Group, a unit of AXA Equitable.