LANSING, Mich.--(BUSINESS WIRE)--Jackson National Life Insurance Company® (Jackson®) today announced a change in senior leadership, with the impending retirement of Thomas J. Meyer, senior vice president and general counsel. Meyer will be succeeded by Andrew J. Bowden who is presently serving as director of the U.S. Security and Exchange Commission (SEC) Office of Compliance Inspections and Examinations.
Meyer has held the position of general counsel for the past 30 years since joining Jackson in 1985. He was instrumental in the development of Jackson’s legal and compliance functions supporting Jackson’s industry-leading variable annuity growth strategy as well as the governance structure over its North American subsidiaries and affiliates. He has also been very involved with numerous Lansing area charitable and community organizations.
“I thank Tom for his leadership and valuable contribution to Jackson’s success over the past three decades,” said Michael Wells, Jackson’s president and chief executive officer. “He will be truly missed, and we wish Tom and his family all the best in retirement.”
Meyer will be succeeded by Andrew (Drew) Bowden who will be leaving the SEC as director of the Office of Compliance Inspections and Examinations to assume the role of senior vice president, general counsel at Jackson. In his role at the SEC, Bowden reported directly to Chair Mary Jo White and oversaw a team of over 900 managers, professionals and staff who operate globally out of 12 office locations conducting examinations of investment advisors, investment companies, broker dealers, exchanges, self-regulatory organizations, clearing agencies, transfer agents, municipal advisors, and other registered entities. Prior to his work at the SEC, Bowden served as executive director, chief operating officer and general counsel at Legg Mason Capital Management. He holds a Bachelor of Arts from Loyola University (Baltimore) and a Juris Doctor from the University of Pennsylvania.
“We are excited to have Drew join our senior management team,” said James Sopha, Jackson’s chief operating officer. “Drew’s background, experience and leadership will be invaluable as Jackson continues to grow its retirement services businesses in North America.”
Jackson is a leading provider of retirement solutions for industry professionals and their clients. The company offers a diverse range of products including variable, fixed and fixed index annuities designed for tax-efficient accumulation and distribution of retirement income for retail customers, and fixed income products for institutional investors. Jackson subsidiaries and affiliates provide specialized asset management and retail brokerage services. With $212.2 billion in IFRS assets*, Jackson prides itself on product innovation, sound corporate risk management practices and strategic technology initiatives. Focused on thought leadership and education, the company develops proprietary research, industry insights and financial representative training on retirement planning and alternative investment strategies. Jackson is also dedicated to corporate social responsibility and supports charities focused on helping children and seniors in the communities where its employees live and work. For more information, visit www.jackson.com.
Jackson is the marketing name for Jackson National Life Insurance Company (Home Office: Lansing, Michigan), Jackson National Life Insurance Company of New York® (Home Office: Purchase, New York) and Jackson National Life Distributors LLC.
A variable annuity is a long-term, tax-deferred investment designed for retirement, involves investment risks and may lose value. Earnings are taxable as ordinary income when distributed and may be subject to a 10% additional tax if withdrawn before age 59 ½.
Variable annuities are issued by Jackson National Life Insurance Company (Home Office: Lansing, Michigan) and in New York by Jackson National Life Insurance Company of New York (Home Office: Purchase, New York). Variable annuities are distributed by Jackson National Life Distributors LLC, member FINRA. May not be available in all states, and state variations may apply. These products have limitations and restrictions, including withdrawal charges and excess interest adjustments (interest rate adjustments in New York) where applicable. Jackson issues other annuities with similar features, benefits, limitations and charges. Discuss them with your representative or contact Jackson for more information.
*Jackson has $212.2 billion in total IFRS assets and $198.7 billion of IFRS policy liabilities set aside to pay future policyowner benefits (as of December 31, 2014). International Financial Reporting Standards (IFRS) is a principles-based set of international accounting standards for reporting financial information. IFRS is issued by the International Accounting Standards Board in an effort to increase global comparability of financial statements and results. IFRS is used by Jackson's parent company.
Jackson National Life Insurance Company is an indirect subsidiary of Prudential plc, a company incorporated in England and Wales. Prudential plc and its affiliated companies constitute one of the world's leading financial services groups. It has been in existence for over 160 years and has $773.3 billion in assets under management as of December 31, 2014. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
The following cautionary statement is included to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. However, as with any projection or forecast, forward-looking statements are inherently susceptible to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such forward-looking statements. There can be no assurance that management’s expectations, beliefs or projections will result or be achieved or accomplished.