More details have emerged regarding the reorganization at the Hartford
]. The Connecticut-based insurer has pulled the plug on Hartford Life Distributors (HLD) less than year after its formation, company spokesman David Potter confirmed to The MFWire.com
. Kevin O'Connor
, who ran HLD, is no longer with the company.
The news was first
created HLD last September
as the distribution organization for its retirement and investment products, including mutual funds.
Now, each of the four business lines within Hartford's wealth management division has its own sales organization, according to Potter. The four business lines are mutual funds, retirement plans, global annuities and individual life.
There are a total of 425 wholesalers across the business segments, Potter said.
Last week, wealth management chief David Levenson sent out a memo to employees
announcing his four direct reports. Jim Davey, as reported
by The MFWire.com
on Monday, was appointed head of the mutual fund business.
In April, Hartford Financial Services officials outlined a new organizational structure
at an investor meeting. Top executives at the insurer said they will focus on three business areas: wealth management, commerical markets and consumer markets.
Armie Margaret Lee
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