Genworth Names Barclay Manager Martin Klein To CFO Post

Date : 03/18/2011 @ 4:31PM
Source : Dow Jones News
Stock : Genworth Financial (GNW)
Quote : 4.1  0.0 (0.00%) @ 3:59PM

Genworth Names Barclay Manager Martin Klein To CFO Post

Genworth (NYSE:GNW)
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Genworth Financial Inc. (GNW) named a Barclays PLC (BCS, BARC.LN) manager, Martin P. Klein, as its chief financial officer, recruiting an executive with nearly 30 years of experience in the insurance, finance and investment banking fields.

Klein, 51, previously worked as managing director of Barclays Capital's insurance and pensions units. He also led the insurance advisory group at Lehman Brothers.

He will become a senior vice president at Genworth on April 11 and assume the CFO title after the company files its fiscal first-quarter results.

Last month, Genworth Financial reported a surprise fourth-quarter loss on charges tied to its troubled mortgage-insurance unit. The company's bottom line had been improving in recent quarters, but core profits have disappointed as the mortgage operation has dragged on results.

Shares were recently up 2.3% to $12.73 Friday.

 
   -By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; Andrew.FitzGerald@dowjones.com 
 
 



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