We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Industry News

Categories

  • Industry Articles (21,052)
  • Industry Conferences (2)
  • Industry Job Openings (35)
  • Moore on the Market (408)
  • Negative Media (144)
  • Positive Media (73)
  • Sheryl's Articles (799)
  • Wink's Articles (346)
  • Wink's Inside Story (272)
  • Wink's Press Releases (121)
  • Blog Archives

  • February 2024
  • January 2024
  • December 2023
  • November 2023
  • October 2023
  • September 2023
  • August 2023
  • July 2023
  • June 2023
  • May 2023
  • April 2023
  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • September 2008
  • May 2008
  • February 2008
  • August 2006
  • Northwestern Mutual CEO John Schlifske announces plans to retire

    January 31, 2024 by Northwestern Mutual

    Schlifske’s 14-year tenure as CEO defined by historic business performance, bold client experience transformation, unsurpassed financial strength, exceptional product value, and meaningful investments in talent and diversity

    Tim Gerend to succeed Schlifske as the company’s next CEO, effective January 1, 2025

    MILWAUKEEJan. 25, 2024 /PRNewswire/ — After 14 years as Northwestern Mutual’s Chief Executive Officer and 37 total years of service at the leading financial security company, John E. Schlifske has announced his plans to retire, as of December 31, 2024, in accordance with the company’s long-standing mandatory retirement age policy.

    Northwestern Mutual’s Board of Trustees has elected Tim Gerend, 52, to serve as the next CEO, effective January 1, 2025. As part of the leadership change, Gerend will transition from his current role as Executive Vice President, Chief Distribution Officer and assume the position of President, Northwestern Mutual. John Schlifske will remain Chairman of the Board of Trustees through January 2025, at which time Gerend will assume the role.

    Schlifske’s distinguished career defined by strong performance and company transformation

    Under Schlifske’s leadership, Northwestern Mutual experienced historic performance while accelerating its evolution from a world-class insurance company into a sophisticated provider of comprehensive financial planning. During Schlifske’s tenure as CEO, Northwestern Mutual’s exclusive distribution system grew from approximately 6,000 to nearly 8,000 advisors – financial experts who deliver plans to help clients achieve financial security.

    Today, the company has more than five million total clients across all product lines and reported all-time high revenue in 2022 (revenue for 2023 has yet to be reported) of nearly $35 billion – an increase of more than 50% from $23 billion in 2010, when Schlifske became CEO. Northwestern Mutual declared its highest-ever dividend – $7.3 billion for 2024. Northwestern Mutual also maintained its number one individual life insurance sales ranking and increased its industry-leading market share. The company has life insurance protection for its policyowners totaling $2.2 trillion. The company’s wealth business also experienced significant growth during this time, growing from $53 billion of total client assets in 2010 to $257 billion last year. Coupled with the company’s general account, overall Northwestern Mutual’s managed investments are more than $570 billion.

    “It’s been a pleasure to serve Northwestern Mutual for nearly four decades. I have a deep sense of pride and gratitude for Northwestern Mutual, our dedicated employees and field force of advisors, and a noble mission that plays such a critical role for our clients’ financial well-being,” said Schlifske. “And, with our strategic vision, commitment to mutual values, leading financial strength, and unique culture, I’ve never had more confidence in the future of this company.”

    Maintaining Northwestern Mutual’s unsurpassed financial strength has been a hallmark of Schlifske’s legacy. The company remains one of the strongest across any industry, and in 2023 earned the highest available financial strength ratings awarded to any U.S. life insurer by all of the four major rating agencies (A.M. Best, Fitch, Moody’s and S&P).

    Tim Gerend, Executive Vice President, Chief Distribution Officer to become new CEO

    On January 1, 2025, Gerend will become Northwestern Mutual’s CEO. Gerend joined Northwestern Mutual in 2002 as an attorney. Throughout the past 22 years, Gerend had a variety of leadership roles spanning Law, Field Compensation and Planning, Enterprise Compliance, and Campus Planning (NM Tower & Commons). He became EVP, Chief Distribution Officer in 2018 and is currently accountable for Career Distribution, Marketing, and Strategic Communications. Today, Northwestern Mutual’s distribution system is the largest, fastest growing, and most diverse in the company’s history.

    “Tim brings a host of experiences from multiple areas of the company, and has played a significant role in the growth and evolution of our exclusive distribution – a key pillar of our company – which has grown to 8,000 financial advisors today,” added Schlifske. “As a strategic, principled, and mission-driven leader, Tim has the vision and experience to lead the company as we serve generations to come,” said Schlifske.

    In addition to his leadership at Northwestern Mutual, Gerend is a thought leader in the financial services industry. He previously served on the Advisory Board for the Center for Ethics in Financial Services and on the CFP Board’s Center for Financial Planning. He now serves as Trustee of The American College of Financial Services. He serves on the board of Milwaukee College Prep, a leading charter school that serves traditionally underrepresented scholars in Milwaukee. He is a graduate of Butler University with a B.S. in economics and received his J.D. from the University of Notre Dame.

    “I am humbled and honored to accept the role of CEO,” Gerend said. “I’ve had a front-row seat to the efforts that have driven Northwestern Mutual to become an integrated financial security company providing insurance and wealth management offerings to our clients. John’s leadership and guidance over the years has been invaluable to me and other company leaders. I’m confident that with our talented employees and financial advisors, we will continue the momentum that John has created during his tenure.”

    Thoughtful succession planning and governance

    Gerend’s selection as the next CEO is the result of the company’s thorough and diligent succession planning process to ensure the smooth transition of leadership and management.

    “Through a comprehensive succession planning process over many years, the company took a rigorous approach to select the right leader for the company’s future,” said Russell Hardin, lead independent Trustee for Northwestern Mutual. “This has resulted in the unanimous board selection of Gerend as the next CEO – a leader who has deep expertise in the company’s business and embodies the unique culture of Northwestern Mutual.”

    About Northwestern Mutual

    Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what’s most important. With more than $570 billion of total assets being managed across the company’s institutional portfolio as well as retail investment client portfolios, nearly $35 billion in revenues, and $2.2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500.

    Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with “Advisor” in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

    SOURCE Northwestern Mutual

    Originally Posted at PR Newswire on January 25, 2024 by Northwestern Mutual.

    Categories: Industry Articles
    currency