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Chief Risk Officer Appointed at Venerable Holdings

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Chief Risk Officer Appointed at Venerable Holdings

PR Newswire

WEST CHESTER, Pa., Sept. 4, 2018 /PRNewswire/ -- Venerable Holdings, Inc. ("Venerable") today announced the appointment of Charles Schwartz as Chief Risk Officer. In this role, Schwartz will report to David Marcinek, Chairman and Senior Managing Director, Venerable Holdings, Inc., and have responsibility for the measurement, management and reporting of risk across the company, with a particular focus on the variable annuity derivatives hedge program. He will be based in New York, NY.   

(PRNewsfoto/Venerable)

Over the last 20 years, Schwartz gained experience through significant leadership roles in derivatives and insurance risk management, most recently at AXA as the Head of Derivatives. At AXA, Schwartz was responsible for the company's $90b-notional derivatives and hedging programs, including P&L/risk-management, strategy, execution, counterparty management, risk-analytics, back office operations, and regulator-filings. Prior to his tenure at AXA, Schwartz served as the Director of Risk Management for Prudential Financial, as a Trader/Analyst for AIG, and as a quantitative analyst for Chicago Trading Company. He holds a Ph.D. in Electrical Engineering from Northwestern University.

"Charles is an outstanding addition to the Venerable leadership team," said Marcinek. "The execution of world class risk management is core to what Venerable is. Charles' experience will be invaluable today and as we execute on our growth strategy of providing risk transfer solutions to the variable annuity industry going forward."

About Venerable

Venerable is a privately held company with business operations based in West Chester, Pennsylvania and Des Moines, Iowa. Venerable owns and manages the legacy variable annuity business acquired from Voya Financial, Inc. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, and Reverence Capital Partners, Venerable is an emerging business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. For more information, please visit www.venerableannuity.com.

Contact:
Allison Proud, 610-425-4269
Corporate Communications
Allison.Proud@venerableannuity.com

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SOURCE Venerable

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