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NEWPORT BEACH, Calif.--April 20, 2005--Thomas C. Sutton, Chairman and CEO of Pacific Life, today announced the creation of an Office of the Chairman that will include himself as well as Glenn Schafer, who will assume the title of Vice Chairman.
Reporting to the Office of the Chairman with expanded responsibilities will be:
- Jim Morris, who assumes the title of Executive Vice President and Chief Insurance Officer. He will oversee the Life Insurance Division, the Annuities and Mutual Funds Division (AMFD), and Pacific Select Distributors (PSD). AMFD and PSD will continue to report to Executive Vice President Bill Robinson.
- Mark Holmlund, who assumes the title of Executive Vice President, Investments. He will maintain responsibility for the Institutional Products Division and assume the lead of the Securities Division immediately. Larry Card, who previously led the Securities Division, announced his intention to retire at the end of 2005. He will take on the role of Executive Vice President & Chief Credit Officer until then.
Also reporting to the Office of the Chairman will be Khanh Tran, Executive Vice President & CFO; Mike Robb, Executive Vice President, Real Estate Division; Tony Bonno, Senior Vice President, Human Resources; Dave Carmichael, Senior Vice President & General Counsel; and Bob Haskell, Senior Vice President, Public Affairs.
Founded in 1868, Pacific Life provides life and health insurance products, individual annuities, mutual funds, group employee benefits, and offers to individuals, businesses, and pension plans a variety of investment products and services. A FORTUNE 500® company, Pacific Life counts 25 of the 50 largest U.S. companies as clients1 and is a member of IMSA (Insurance Marketplace Standards Association), whose membership promotes ethical market conduct for individual life insurance and annuities.
1 Data compiled by Pacific Life using the 2004 FORTUNE 500 list, as of April 2004.
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