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Genworth Financial Announces Key Management and Organizational Changes


RICHMOND, Va., June 19 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) today announced several key leadership and organizational shifts in order to enhance growth, improve competitiveness and simplify operations.

Genworth's U.S. Mortgage Insurance segment, led by Kevin Schneider, will now report directly to Chairman and Chief Executive Officer Michael D. Fraizer. Executive Vice President Tom Mann will concentrate on leading the international segment.

"Kevin and his organization have kept a clear focus on executing our strategy and positioning the business for the future -- all while mitigating risk during a difficult industry transition," said Fraizer. "I'm equally excited about Tom's proven leadership and the opportunities we have to selectively expand our international business operations and product presence."

Mark Griffin, senior vice president and chief investment officer, will leave the company to pursue other career interests. Dan Sheehan, senior vice president of Portfolio Management, will serve as acting chief Investment officer. Sheehan, a Harvard University graduate, has served in multiple investment and risk management capacities at Genworth and its predecessor companies since 1987.

In addition, Vic Moses, 60, senior vice president for Actuarial and Risk, will retire on October 1, 2008. "We thank Vic for his many contributions during his distinguished 25-year career," said Fraizer. "He has provided advice, counsel and invaluable insurance expertise to me and the broader leadership team."

The actuarial function will now report to Pat Kelleher, senior vice president and chief financial officer. The risk management function will report to the CEO.

About Genworth

Genworth Financial, Inc. (NYSE: GNW) is a leading public Fortune 500 global financial security company. Genworth has $114 billion in assets and employs approximately 7,000 people in 25 countries. Its products and services help meet the investment, protection, retirement and lifestyle needs of over 15 million customers. Genworth operates through three segments: Retirement and Protection, International and U.S. Mortgage Insurance. Its products and services are offered through financial intermediaries, advisors, independent distributors and sales specialists. Genworth Financial, which traces its roots back to 1871, became a public company in 2004 and is headquartered in Richmond, Virginia. For more information, visit

SOURCE Genworth Financial, Inc.
CONTACT: Media, Al Orendorff, +1-804-662-2534,,
or Investors, Alicia Charity, +1-804-662-2248,,
both of Genworth Financial, Inc.
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