Hire Up: Large Annuity Companies Creating Distribution Leadership Positions
The Life Annuity Specialist article, “Hire Up: Large Annuity Companies Creating Distribution Leadership Positions,” quoted Russell Reynolds Associates Consultant Dave Seeley about the new type of distribution and product leaders. The article is excerpted below.
Annuity sales are trending down, but sales and product teams are hiring up.
Some of the largest annuity manufacturers are creating new leadership positions among their product and distribution teams, hoping an evolving retirement and regulatory landscape offers prepared companies a chance to grab market share. Lincoln Financial, Prudential and Franklin Templeton have all created new or expanded annuity distribution leadership roles this year.
“What you’re seeing is the need for a new type of distribution and product leader,” says Dave Seeley, a consultant in the insurance practice for executive search firm Russell Reynolds Associates. He notes that historically, many companies focused on the product first and the customer second. That focus has reversed, Seeley says. Companies are breaking the silos that once existed between distribution and product and are creating a coordinated effort across the organization that prioritizes the customer.
To read the full article, click here.