Financial Chairman and CEO Rodney O. Martin Jr. will take over from Maliz Beams, who was most recently the CEO of the Voya's retirement solutions business.
Voya Financial, Inc. announced that its retirement solutions business, which consists of the retirement and annuities segments, will be led directly by Voya Financial Chairman and CEO Rodney O. Martin Jr. The change is effective immediately.
"Over the past few years, we have made significant progress toward achieving our long-term objectives and our vision to be America's retirement company," said Martin in a statement. "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 business's growth and expansion."
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To that end, Martin takes over from Maliz Beams, who was most recently the CEO of the firm's retirement solutions business. She is leaving the company to pursue other opportunities.
Martin added, "As one of the largest retirement solutions providers in the U.S., we have a tremendous opportunity to positively impact Americans' retirement readiness. I am committed to ensuring that we continue to leverage the full breadth of our capabilities, our scale, and the current demographic trends as we strive to establish Voya Financial as the company of choice for helping Americans with their asset accumulation, asset protection and asset distribution needs."
He concluded, "We remain committed to our 2016 return on capital and return on equity 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 percent to 13 percent, as well as our ongoing business operating ROC target of 10 percent to 11 percent."
Voya Financial's other ongoing business includes investment management and insurance solutions (employee benefits and individual life).
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