Company Broadens Focus to Offer Retirement Solution to Large Corporations
NEW YORK, Sept. 24 /PRNewswire-FirstCall/ -- AXA Equitable Life Insurance Co. announced today that it has hired Bill McDermott as Executive Vice President of Corporate Markets; he has also been named a member of the company's Executive Management Committee. Mr. McDermott is charged with developing innovative retirement solutions for Fortune 1000 companies. The announcement was made by Christopher "Kip" Condron, the Chairman and Chief Executive Officer of AXA Equitable.
"Bill will explore new marketplaces and distribution channels for our life, annuity, and investment products, thereby contributing to AXA Equitable's ongoing success," said Mr. Condron. "Our commitment to providing workplace savings plans to the country's largest corporations is an important step toward our goal of being the 'at retirement' choice for Americans."
As head of this new business endeavor, Mr. McDermott will leverage the strengths of AXA Equitable's existing distribution platforms and organizational capabilities to create and manage the Corporate Markets team. Building on the power, capacity, and competencies of AXA Equitable and AXA Group, a worldwide leader in financial protection and wealth management, the team will develop offerings related to the company's existing investment products, guarantees, and financial planning services.
"Over his 25-year career, Bill has gained a deep understanding of the key drivers within the corporate and retirement services marketplace, making him the right person to help AXA Equitable identify opportunities and create initiatives that will provide us with a competitive advantage," Mr. Condron said.
Mr. McDermott spent the past 11 years with various divisions of
Fidelity Investments. He was most recently Executive Vice President of
Large Corporate Market Retirement Services at Fidelity Employer Services
Co. in Marlborough, MA; he was responsible f
|SOURCE AXA Equitable Life Insurance Co.|
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