RICHMOND, Va., Feb. 25, 2013 /PRNewswire/ -- Genworth announces that Chief Financial Officer Martin P. Klein has been named executive vice president of Genworth, effective immediately.
Klein will continue in his role as CFO. His new responsibilities as executive vice president include operational responsibility for Genworth's International Protection and Wealth Management segments, part of Genworth's Corporate and Other Division, as well as for Genworth's Corporate Development activities.
"As CFO, Marty helps drive our turnaround priorities that are designed to increase our financial strength and flexibility, such as our recently announced U.S. Mortgage Insurance Capital Plan," said Tom McInerney, Genworth chief executive officer. "Now, he also will lead the related priorities of increasing International Protection's and Wealth Management's value and exploring options to realize that value. Marty's new responsibilities will include supporting International Protection's efforts to navigate the tough European environment through pricing and expense actions, as well as pursue growth in new markets. Marty will also help the Wealth Management team continue to develop new product offerings and related services to foster the business's growth and enhance its ability to serve its financial advisors. Given the integral role Corporate Development will play in creating long-term value for Genworth, it makes sense to align that function under Marty."
Klein, with nearly 30 years experience working in financial services, became Genworth's chief financial officer on May 11, 2011.About Genworth Genworth Financial, Inc. (NYSE: GNW) is a leading Fortune 500 insurance holding company dedicated to helping people secure their financial lives, families and futures. Genworth has leadership positions in offerings that assist consumers in protecting themselves, investing for the future and planning for retirement -- including life insurance, long term care insurance, financial protection coverages, and independent advisor-based wealth management -- and mortgage insurance that helps consumers achieve home ownership while assisting lenders in managing their risk and capital.