Genworth Promotes Global Mortgage Head to New Chief Operating Officer Post
December 17, 2015 by Dennis Gorski, managing editor-online, BestWeek: Dennis.Gorski@ambest.com
RICHMOND, Va. – Genworth Financial has named one of its senior executives to the newly created post of chief operating officer.
Kevin D. Schneider, most recently executive vice president of global mortgage insurance, will assume the daily operations and performance of the company, including business improvement, growth and resourcing, Genworth said in a statement.
He reports to Tom McInerney, president and chief executive officer. Schneider will be responsible for the U.S. life insurance businesses in addition to his existing oversight of the mortgage insurance business, McInerney said in the statement.
Schneider became executive vice president of global mortgage insurance last May after serving as executive vice president since 2012. He was in various senior leadership roles for the company’s U.S. mortgage insurance business since Genworth’s initial public offering in 2004, according to the statement.
“This is a new position at Genworth,” said Julie Westermann, senior director of public relations, in an email to Best’s News Service.
“He brings significant experience to this position, including leading the U.S. mortgage insurance business through the financial crisis, and was instrumental in its return to profitability,” said McInerney in the statement. “This appointment will enable me to focus on driving Genworth’s overall strategy, including the continued pursuit of our strategic priorities.”
Genworth has been working to consolidate its balance sheet and shed non-core assets for the past year (Best’s News Service, Dec. 2, 2015).
Genworth’s operating insurance units have a current Best’s Financial Strength Rating of A- (Excellent).
