NEW YORK, Oct. 12, 2016 /PRNewswire/ -- Voya
Financial, Inc. (NYSE: VOYA), announced today that Michael S. Smith has been named chief financial
officer (CFO), effective Nov. 7. Smith will continue to
report to Rodney O. Martin, Jr.,
Voya's chairman and chief executive officer (CEO), and serve on
Voya's Executive Committee.
Smith, who joined Voya in 2009, has previously served as CEO of
Insurance Solutions at Voya and has had management oversight for
the company's Closed Block Variable Annuity (CBVA) segment.
Smith has also served as Voya's chief risk officer (CRO) and, prior
to that, held the roles of CEO, CFO and CRO for Voya's Annuities
business.
Smith succeeds Ewout L.
Steenbergen, who has served as CFO of Voya since 2010 and
has decided to depart the firm for another opportunity.
Steenbergen will continue in the role through Nov.
7.
"I would like to thank Ewout for his significant leadership
contributions during his 23-year career with Voya and ING Group,"
Martin said. "He played a key role in preparing Voya to go
public in 2013 and his leadership has meaningfully contributed to
Voya's success. Ewout was a key driver of Voya's achievement
of our initial ROE target – two years ahead of schedule – as well
as our improved financial strength and shareholder value, as
reflected in our return of roughly $2.8
billion in excess capital. We wish Ewout and his
family the very best as he embarks on a new chapter in his
career.
"At the same time, we are delighted to announce Mike Smith's appointment as CFO," added
Martin. "Mike's in-depth knowledge of our business, combined
with his experience in CFO and CRO roles, makes him an ideal choice
to lead our Finance organization."
As CFO, Smith will be responsible for strategic finance, capital
management, actuarial, tax, insurance investments, controllership,
financial reporting, procurement, expense management, treasury and
investor relations. He will also oversee CBVA.
Voya's Employee Benefits business, which Smith has overseen,
will now report directly to Alain
Karaoglan, Voya's chief operating officer, who oversees all
five of Voya's Ongoing Business segments.
Prior to joining Voya, Smith held several leadership positions
at Lincoln Financial Group, where he ultimately served as head of
profitability and risk management of the company's retirement
solutions business. He also served as CFO & CRO of
Lincoln Life and Annuities, from
2004 to 2006, and as CFO for Lincoln Financial Distributors, from
2003 to 2004. He holds bachelor's degrees in economics and
Russian studies from the University of
Michigan and attained Fellowship in the Society of Actuaries
in 1990. Smith is also a member of the American Academy of
Actuaries.
Media
Contact:
|
Investor
Contact:
|
Christopher
Breslin
|
Darin
Arita
|
(212)
309-8941
|
(212)
309-8999
|
Christopher.Breslin@voya.com
|
IR@voya.com
|
About Voya Financial®
Voya Financial, Inc.
(NYSE: VOYA), helps Americans plan, invest and protect their
savings — to get ready to retire better. Serving the financial
needs of approximately 13 million individual and institutional
customers in the United States,
Voya is a Fortune 500 company that had $11 billion in revenue in 2015. The company had
$466 billion in total assets under
management and administration as of June 30,
2016. With a clear mission to make a secure financial future
possible — one person, one family, one institution at a time —
Voya's vision is to be America's Retirement Company™. The company
is equally committed to conducting business in a way that is
socially, environmentally, economically and ethically responsible —
Voya has been recognized as one of the 2016 World's Most Ethical
Companies® by the Ethisphere Institute, and as one of
the Top Green Companies in the U.S., by Newsweek magazine.
For more information, visit voya.com. Follow Voya Financial on
Facebook and Twitter @Voya.
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SOURCE Voya Financial, Inc.