Nationwide Financial announces realignment to expand services to advisors, agents and customers
FOR IMMEDIATE RELEASE
October 3, 2011
Jeff Whetzel (614) 249-6354
Columbus, OH — Nationwide Financial Services, Inc. today announced a reorganization that will expand delivery of its financial services offerings to members of its mutual while strengthening partnerships with key firms and advisors through innovative product development.
Peter Golato, formerly senior vice president of Individual Protection, will now lead a new group assuming the name Nationwide Financial Network that will include the current affiliated sales team, Nationwide Business Solutions Group (COLI) and the Advanced Consulting Group.
Also, the Individual Protection and Individual Investment Group, Nationwide Financial’s life insurance and annuity segments, respectively, will be combined to form Individual Products & Solutions and be led by Eric Henderson, who was previously senior vice president of the Individual Investments Group.
“This realignment is designed to accelerate growth by further executing on Nationwide’s mutual strategy by delivering comprehensive financial services to our members,” said Kirt Walker, president and chief operating office for Nationwide Financial. “At the same time, enhancing our innovative capabilities within our life and annuity products strengthens our commitment to provide our key firms and advisors with the products and services necessary to help their clients prepare for a secure retirement.”
Variable annuities and life insurance have recently helped fuel sales momentum for Nationwide Financial. Variable annuity sales for the first half of the year were $3.6 billion, up 56 percent compared to the first half of 2010, and life insurance-in-force was $207 billion.
Nationwide, based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A+ by both A.M. Best1 and Standard & Poor’s2. The company provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions and long-term savings plans. For more information, visit www.nationwide.com.
1 A.M. Best, affirmed 3/16/11
2 Standard & Poor’s, affirmed 7/8/11
Nationwide, Nationwide Financial, the Nationwide framemark, and On Your Side are service marks of Nationwide Mutual Insurance Company.
Nationwide variable annuities are issued by Nationwide Life Insurance Company, Columbus, Ohio. The general distributor for variable annuity contracts is Nationwide Investment Services Corporation, member FINRA. In MI only: Nationwide Investment Svcs. Corporation.
© 2011 Nationwide Financial Services, Inc. All rights reserved.