Margaret Skinner, Guardian's EVP of individual products distribution, has recruited a top mutual fund sales executive from the Hartford to lead sales efforts for RS Funds.
The new team member is Philip Eichinger, a 20-year Hartford Financial veteran who last served as the insurer's national mutual fund sales manager and senior vice president.
Eichinger will lead RS Funds retail sales efforts as its national sales manager. He will also oversee retail annuity sales for Guardian, which purchased a 65-percent stake in RS Investments in May of 2006 (see The MFWire, May, 16, 2006).
During his two decades at Hartford, he won kudos for his efforts to boost fund sales, which included his key role in Hartford's sponsorship of the NCAA March Madness tournament.
How Eichinger's former responsibilities are being divvied at the Hartford could not be immediately learned and a spokesperson for the insurer was not immediately available for comment.
Eichinger's departure from Hartford came before the insurer announced 500 layoffs Wednesday morning. Last week the insurer also suffered a 50 percent stock drop after its quarterly earnings call with analysts.
Company Press Release
NEW YORK, Nov 05, 2008 -- Will Lead Guardian Annuity and RS Investments' Mutual Fund Sales in Retail Channels -
The Guardian Life Insurance Company of America (Guardian) today announced that industry veteran Philip Eichinger has joined the firm as National Sales Manager.
Mr. Eichinger will lead retail sales efforts for Guardian's annuity products and RS Funds, a family of mutual funds offered by RS Investments, an independently managed investment firm in which Guardian owns a majority interest.
Mr. Eichinger will report to Margaret W. Skinner, Executive Vice President, Individual Products Distribution, and joins Guardian after 20 years with Hartford Financial Services Group where he held a number of positions of increasing responsibility including: Vice President and National Sales Manager, Broker Dealer Channel; and National Sales Manager, Hartford Mutual Funds. In his most recent post at Hartford, Mr. Eichinger was Senior Vice President and National Sales Manager, Mutual Funds.
"We are very fortunate to have attracted someone of Phil's caliber to lead such a critical function," said Ms. Skinner. "He is extremely knowledgeable about all distribution channels, and has a demonstrated track record building mutual fund and annuity sales capabilities. That experience, coupled with his ability to recruit, train and motivate a sales team positions him well to make a big impact with Guardian and RS Investments."
Mr. Eichinger graduated from Fordham University with a Bachelor's degree in Economics and Finance.
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is one of the largest mutual life insurance companies in the United States. As of December 31, 2007, Guardian and its subsidiaries had $41.3 billion in assets (on a consolidated statutory basis). With close to 3,000 financial representatives and 80 agencies nationwide, Guardian and its subsidiaries protect individuals, small business owners, and their employees with life, disability, health, long-term care, and dental insurance products, and offer 401(k), annuities, and other financial products and trust services. Specializing in the small to mid-size business market, Guardian's group benefits business unit serves more than 120,000 employers, 6 million employees, and their families. More information about Guardian can be obtained at: www.GuardianLife.com.