The Retirement Solutions business of Voya Financial Inc. will be led directly by the firm’s Financial Chairman and CEO, Rodney O. Martin, Jr., the company said in a release. Maliz Beams, most recently the CEO of Voya’s Retirement Solutions business, is leaving the company.
“In considering the significant role that our Retirement Solutions business plays both in our financial performance and in our value proposition, at this time I have decided to directly oversee the next phase of the businesses’ growth and expansion,” Martin said in a prepared statement.
“We remain committed to our 2016 return on capital (ROC) and return on equity (ROE) targets, including our ROC targets for the Retirement and Annuities segments. We continue to believe that, through the execution of our more than 30 margin, growth, and capital initiatives, we can achieve our 2016 Ongoing Business operating ROE target of 12-13%, as well as our Ongoing Business operating ROC target of 10-11%,” Martin’s statement said.
Voya Financial’s Ongoing Business includes Retirement Solutions (Retirement and Annuities), Investment Management, and Insurance Solutions (Employee Benefits and Individual Life).
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