American Enterprise Announces CEO Tom Swank Will Succeed Mike Abbott as Chairman of the Board

DES MOINES, Iowa--(BUSINESS WIRE)--The Board of Directors of American Enterprise Mutual Holding Company, parent company of American Enterprise Group (AEG), is pleased to announce current CEO Tom Swank has been named the company’s new Executive Chairman of the Board. Swank will replace Mike Abbott, who has served the company for 52 years, including 19 years as CEO.

“I am proud of everything we have accomplished together as a company and our ongoing commitment to fulfill our promise to always be here,” Swank said. “I look forward to this expanded role and the opportunities to continue to lead this incredible organization as we help our customers secure their financial futures.”

Swank joined AEG as CEO in 2015 and will continue to serve as CEO as he takes on the additional responsibilities of Executive Chairman of the Board in March 2023. In his new capacity, Swank will, in consultation with the company’s Lead Independent Director, preside over the mutual holding company's board and annual meetings. Donna J. Blank, chair of the Board’s Audit and Risk Committee, will serve as the Lead Independent Director.

“I want to thank Mike for his decades of service to American Enterprise, both as Chairman and as our former CEO. His leadership and dedication have provided terrific value to our company, and we appreciate his contributions to our success,” Swank stated.

Prior to joining AEG, Swank served as president and CEO of Aegon Asset Management U.S., a Cedar Rapids-based asset management company and subsidiary of Netherlands-based Aegon Group. He has also held positions with Security Benefit Corp., US West, United Bank of Denver, and The Federal Reserve Bank of Kansas City. Swank holds a bachelor's degree in business administration from Miami University of Ohio and a Master of Business Administration from the University of Colorado.

About American Enterprise Group, Inc.

American Enterprise Group, Inc., has multiple insurance company subsidiaries under the American Republic®, Great Western Insurance Company (GWIC®), and Medico® brands. These companies offer life and health insurance product solutions to help people secure their financial futures through various distribution channels and are licensed in 49 states, plus the District of Columbia. American Enterprise is based in Des Moines, Iowa, and employs more than 400 people.