Lincoln Financial Distributors eliminated its marketing and communications department, cutting chief marketing officer Chuck Cavanaugh and 11 other positions from its payroll.

The eliminated department was responsible for the creation of marketing materials used by Lincoln Financial wholesalers; communicating internal marketing strategies will now be done by the marketing department of Delaware Investments.

Lincoln Financial tapped Cavanaugh in December 2000 to head up the marketing strategy of the new entity. Before arriving at the Philadelphia-based firm, Cavanaugh was at GE Financial Assurance.

The firm is still figuring out the nuts and bolts of the new distribution entity, according to a spokesperson, who explained that 13 others had been laid off in the Lincoln Financial's life insurance division. Unrelated to the layoffs except by timing, one additional mutual fund employee left to pursue other opportunities.

Links:

Lincoln Shifts Distribution Strategy 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE