||For Immediate Release|
Pacific Life Names Khanh T. Tran President;
Adrian S. Griggs to be Chief Financial Officer
Newport Beach, Calif. (March 8, 2012) - Pacific Life's Chairman and CEO James T. Morris announced today that Khanh T. Tran, Pacific Life's chief financial officer and chief investment officer, has been named president of Pacific Life and elected to the boards for both parent companies of Pacific Life Insurance Company, effective April 1, 2012. In conjunction with this change, Adrian S. Griggs will become Pacific Life's chief financial officer.
Mr. Tran joined Pacific Life in 1990 as treasurer and in 1995 was named vice president of Corporate Development and treasurer to reflect his added areas of responsibilities in mergers, acquisitions, and strategic new businesses. He was elected to the board of directors of Pacific Life Insurance Company and promoted to chief financial officer in 1996. In 2011, Mr. Tran also assumed the role of chief investment officer.
In his role as president, Mr. Tran will continue to be responsible for financial, strategic planning, investments, and Pacific Life's non-insurance businesses, including Aviation Capital Group, Pacific Global Advisors, and Pacific Asset Management.
"Khanh has been an exemplary chief financial officer during a period of growth and expansion of the company," said Mr. Morris. "His stewardship of the financial position of the company and of Pacific Life's subsidiaries, particularly Aviation Capital Group, has provided Pacific Life with a solid foundation for future growth. The directors of our boards have expressed confidence in Khanh's ability to continue delivering strong results for the benefit of our policyowners."
Mr. Griggs joined Pacific Life in 1994 as an assistant vice president coordinating the financial reporting and planning for Pacific Life's institutional products. In 1999, he joined the Retirement Solutions Division as vice president, overseeing the financial, budgeting, planning, and compliance operations for the company's annuity and mutual funds product lines. He was promoted to senior vice president in 2008 and he assumed oversight of the division's Institutional & Structured Products and Risk Management departments in 2009. In his new responsibility as executive vice president and chief financial officer, Mr. Griggs will report to Mr. Tran and be responsible for the company's accounting, audit, tax, and treasury functions.
"Adrian is an extremely talented financial executive with sound business judgment. He brings that and the experience from the senior roles he has held in two separate divisions of the company to his new responsibilities as the senior financial officer of the company," said Mr. Tran.
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit Pacific Life online at www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of May 2011 is compiled by Pacific Life using the 2011 FORTUNE 500® list.