American Express Financial Advisors
signed on a former McKinsey top executive to oversee its strategic moves. The hire comes as American Express prepares to spin-off the asset management and brokerage arm to its shareholders as a new company in third quarter.
The new hire is John Woerner
, former head of McKinsey's North American Asset Management, Brokerage and Wealth Management practice. He reports directly to James Cracchiolo, who heads AEFA.
Woener takes the title of senior vice president of strategic planning and business development.
Prior to Woerner's hire, Kim Sharan
, chief marketing officer and senior vice president was responsible for both marketing and strategy at AEFA. Sharan remains at AEFA, where she will focus exclusively on marketing, said spokesman Paul Johnson.
Additionally, Laura Gagnon
has signed on as vice president of investor relations.
Gagnon's position is new, said Johnson. He declined to comment on whether AEFA would hire any additional staff in anticipation of the spin-off.
AEFA's lines of business include American Express Retirement Services, U.K.-based money manager Threadneedle Asset Management, a 12,000-strong advisor force, and IDS Life Insurance Company, IDS Property Casualty Company and subsidiary companies.
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