Lincoln Financial Group Creates Employer Markets Division
Key distribution leadership in place; focused on segment synergies.
Philadelphia (PRWEB) September 22, 2006
Lincoln National Corporation (NYSE: LNC), the parent company of the Lincoln Financial Group (LFG) of companies, recently announced the official launch of its Employer Markets division. Lincoln Employer Markets includes numerous employer-based businesses that were previously dispersed throughout the organization. Offering a broad breadth of products focused on Retirement, Group Protection and Executive Benefits, the newly formed division was strategically created to provide employers with integrated solutions for all non-healthcare-related benefits.
While this is a new division for the company, Lincoln Employer Markets already is a well-established player in this marketplace. In fact, today Lincoln Employer Markets includes nearly 2000 employees and a sales force of 400 that serves nearly 60,000 plan sponsors and approximately 5 million plan participants. The business segment accounts for 31 percent of Lincoln Financial Group’s operating income and has more than $38.5 Billion in account values as of June 30, 2006.
As president of Lincoln Employer Markets, Westley V. Thompson brings more than 20 years experience in the financial services industry. Prior to taking the reins at Lincoln Employer Markets, he served as president and CEO of Lincoln Financial Distributors, Inc., the wholesaling distribution organization of Lincoln Financial Group. Thompson, who is well-known as a pioneer in recognizing the importance of centralized, customer-focused wholesaling forces, has placed this same emphasis on building a strong Distribution Channel within the Lincoln Employer Markets Defined Contribution, Executive Benefits and Group Protection business segments.
“In the wake of the newly passed Pension Reform legislation and the ever-changing needs in the market, Lincoln Employer Markets is committed to providing integrated benefit solutions to employers and helping America’s employees successfully prepare for retirement,” said Thompson. “With our strong leadership team and unique distribution platform, we are well positioned to be the partner of choice to our intermediaries and their clients.”
Lincoln Employer Markets Distribution Leadership
Don Roberson has been appointed Senior Vice President of Distribution for Employer Markets Defined Contribution & Executive Benefits. Formerly, Roberson served as Head of Distribution for the Wire/Regional Broker Dealer Division of Lincoln Financial Distributors. As Senior Vice President of Distribution for Defined Contribution & Executive Benefits, Roberson is responsible for building and growing the business through independent advisors, wire regional firms, regional broker-dealers, banks, consultants and third-party administrators.
Len Cavallaro has been appointed Senior Vice President of Sales and Marketing for Employer Markets Group Protection, which includes group life, short-term and long-term disability and dental insurance products. Prior to the Lincoln Financial Group and Jefferson Pilot Financial merger, Cavallaro served as the Senior Vice President of Sales and Marketing for the Group Division of Jefferson Pilot Financial. As Senior Vice President of Sales and Marketing for Employer Markets Group Protection, Cavallaro is responsible for distribution development and operations, marketing, product development and training for the Group Protection segment.
Lincoln Employer Markets is building a value proposition to provide intermediaries with integrated accumulation, protection and retirement income solutions.
“We are extremely proud to have Don and Len leading our Distribution teams,” said Thompson. “They both have established excellent relationships in the industry and have proven track records of success. Don and Len are strong assets to our team and are hard at work identifying how all of our employer-based products can best work together.”
About Lincoln Financial Group:
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. With headquarters in Philadelphia, Lincoln Financial Group had consolidated assets of $167 billion as of June 30, 2006, and had annual consolidated revenues of $5.5 billion in 2005. The company offers: annuities; life, group life and disability insurance; 401k and 403b plans; savings plans; mutual funds; managed accounts; institutional investments; and comprehensive financial planning and advisory services. Company affiliates include: Lincoln Financial Distributors, which provides wholesaling and marketing support; Lincoln Financial Advisors and Jefferson Pilot Securities Corp., Lincoln Financial Retail Distribution, a national network of financial planners, agents, and registered representatives; Delaware Investments, the marketing name for Delaware Management Holdings, Inc. and its subsidiaries; Lincoln
Financial Media, which owns and operates three television stations, 18 radio stations, and the Lincoln Financial Sports production and syndication business; and Lincoln UK. For more information please visit http://www. LFG. com (http://www. LFG. com).
CONTACT:
Daniela Palmieri
Lincoln Financial Group
Strategic Communications
Ph: 215.255.2986
Amy Garber
Tierney Communications
Ph: 215-790-4353
This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: www. HRmarketer. com) on behalf of the company listed above.
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