Guggenheim Taps Kiley To Help Oversee Security Benefit
August 12, 2011 by NU ONLINE NEWS SERVICE
The investment firm that is acquiring Security Benefit Corp. has brought in a
senior managing director with experience at AXA S.A. and Guardian Life Insurance
Company of America.
Guggenheim Partners L.L.C., Chicago, says Michael Kiley, the new senior
managing partner, will “work closely with Todd Boehly,” a managing partner in
the office of the chief executive officer at Guggenheim Partners, as the firm
completes the Security Benefit acquisition.
Guggenheim announced plans to acquire Security Benefit, Topeka, Kan., in
February and since then has announced plans to invest $175 million in the life
Guggenheim hopes to close on Security Benefit by Sept. 30.
Kiley “brings a strong track record of experience in both the insurance and
the asset management industries,” Boehly says in a statement. “He is playing an
important role in the transaction, and he will be integral in helping Guggenheim
expand the size and the scope of the Security Benefit franchise.”
Kiley will work with the current leaders of Security Benefit Life and
Security Global Investors to develop new products and new strategies, Guggenheim
“Guggenheim believes that there is a substantial opportunity to capitalize on
the intersection of insurance and asset management — two industries where Kiley
has extensive knowledge and experience,” the firm says.
Kiley most recently was president of the Van Kampen Investments, a division
of Morgan Stanley & Company Inc., New York.
He also has been president of the Travelers Portfolio Group division at
Citigroup Inc., New York. Earlier, he worked in annuity distribution at
Guardian, New Yorok,
Kiley has a bachelor’s degree from Holy Cross College.