Genworth Financial ( GNW) named Mark W. Griffin chief investment officer.

The Richmond, Va., GE ( GE) insurance spinoff said Griffin has served as chief risk officer since 2000, and has been acting CIO since June 2005. The company said it would search for a new chief risk officer.

"As acting CIO, Mark has made strong progress in building our investment strategy, infrastructure and team," said CEO Michael D. Fraizer. "Mark's deep experience and broad knowledge are perfectly suited to today's investment climate. In his new role, Mark will focus on driving core growth through the repositioning of our investment portfolio to ensure that we optimize risk-adjusted returns."

On Wednesday, Genworth fell 62 cents to $30.16.

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