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Rating:The Hartford Mutual Funds Report to a New Old Chief Not Rated 4.0 Email Routing List Email & Route  Print Print
Wednesday, June 30, 2010

The Hartford Mutual Funds Report to a New Old Chief

News summary by MFWire's editors

The mutual fund team at the Hartford is about to report to a new, yet familiar, chief. Today the Hartford, Connecticut-based insurer revealed that David Levenson will take over from John Walters tomorrow as president of wealth management (which includes annuities, individual life offerings and retirement plans, as well as funds).

David N. Levenson
Hartford Wealth Management
The Hartford confirmed that Walters will leave at the end of next month "to pursue other opportunities."

Most recently, Levenson led Hartford's "in-force domestic variable annuity business and its international and institutional business segments," yet he is no mutual fund neophyte. A fifteen-year Hartford veteran (and a Fidelity alum), Levenson previously developed the insurer's mutual fund operations. He has also overseen Hartford's retirement plans unit, its retail products, its Japanese unit and Hartford Investment Management Company's sales and marketing.

"Dave has a proven track record of building and managing several successful businesses at The Hartford, including launching the company's mutual funds operations and revitalizing the retirement plans business," stated Liam McGree, Hartford's chairman, president and CEO.

Hartford spokesman David Potter confirmed that Jim Davey, executive vice president and director of the investment and retirement division, will report to Levenson. Spokesman Tim Benedict added that Rob Arena will continue to serve as head of retail products (which includes annuities and 529s, as well as mutual funds).

Company Press Release

HARTFORD, Conn., Jun 30, 2010 -- The Hartford Financial Services Group, Inc. today announced that it has named David N. Levenson President of Wealth Management, effective July 1. John C. Walters, current president of Hartford Life, will leave The Hartford at the end of July to pursue other opportunities.

"I look forward to working with Dave as we implement our go-forward strategy and officially roll out the new organizational structure on July 1," said Liam E. McGee, Chairman, President and Chief Executive Officer of The Hartford. "Dave has a proven track record of building and managing several successful businesses at The Hartford, including launching the company's mutual funds operations and revitalizing the retirement plans business. The breadth of his experiences across the organization and his leadership skills makes him an excellent choice to lead Wealth Management."

"I want to thank John for his many contributions to The Hartford over the last ten years. He managed the wealth management businesses during a period of significant growth, led Hartford Life during a particularly challenging period, and played a strong role in the development of the company's strategy. We wish John well in his future endeavors," added McGee.

Levenson joined The Hartford in 1995 from Fidelity Investments, and since that time has worked in nearly every aspect of the company's wealth management business. He led the development of The Hartford's mutual funds operations and also ran the retirement plans business before heading the retail products business. In 2005, he joined Hartford Investment Management Company (HIMCO) as Managing Director in charge of sales and marketing.

From 2006 to 2009 he was with Hartford Life Insurance K.K., the company's Japan subsidiary, where he initially was charged with leading a turnaround as head of product and distribution and ultimately was named President and CEO. He returned from Japan in July 2009 to serve as executive vice president leading the company's in-force domestic variable annuity business and its international and institutional business segments.

Levenson earned a bachelor's degree from the Wharton School at the University of Pennsylvania and a master's in business administration from Columbia Business School. He is a Fellow of the Society of Actuaries (FSA) and is a Chartered Financial Analyst (CFA).

About The Hartford

Celebrating 200 years of helping its customers achieve what's ahead, The Hartford is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 100 company, The Hartford is recognized widely for its service expertise and as one of the world's most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2009 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.

SOURCE: The Hartford Financial Services Group, Inc. 

Edited by: Neil Anderson, Managing Editor

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