METLIFE BOARD OF DIRECTORS APPROVES SPIN-OFF OF BRIGHTHOUSE FINANCIAL
Michel Khalaf takes on responsibility for the U.S Business; Maria Morris retires
Marty Lippert adds responsibility for MetLife Holdings
Ramy Tadros joins as Chief Risk Officer
NEW YORK, June 15, 2017
MetLife, Inc. (NYSE: MET) today announced a series of changes to its senior leadership ranks. All of the changes are effective July 1 unless otherwise noted.
Michel Khalaf will become President of the U.S. Business while retaining his role as President of EMEA. Khalaf joined MetLife in 2010 through the company’s acquisition of Alico and has been President of EMEA since November 2011. With Khalaf relocating to New York, MetLife Senior Vice President Eric Clurfain will oversee the EMEA business in region and continue to report to Khalaf. Maria Morris, who most recently has been Interim Head of the U.S. Business in addition to Head of Global Employee Benefits, will retire from MetLife this fall after 33 years at the company.
“Michel has been a tremendous asset to MetLife, helping to ensure the successful integration of Alico, managing EMEA with a strong focus on value creation and expense discipline, and serving as a trusted adviser on the Executive Group,” said MetLife Chairman, President and CEO Steven A. Kandarian. “I also want to thank Maria for her outstanding leadership over a storied and exceptional career at MetLife and wish her all the best in her retirement.”
While retaining his current duties as MetLife’s Head of Global Technology and Operations, Marty Lippert will assume responsibility for MetLife Holdings, which contains the closed-block business of the company’s former U.S. Retail segment. Senior Vice President Frank Cassandra, who manages the MetLife Holdings segment, will report to Lippert.
“Marty has been an exceptional leader for MetLife in both the technology and operations components of his job and in leading the company’s digital strategy,” Kandarian said. “He has built a world-class technology hub in Raleigh, N.C., improved our customer experience to an industry-leading level, and strengthened our operating leverage and effectiveness through a more rigorous adoption of a shared-services model. This experience will serve MetLife Holdings well as we manage the closed block for improved cash flow.”
MetLife’s Chief Risk Officer, Stan Talbi, will retire at the end of August after 43 years of service to the company. “Stan has held numerous high-level positions at MetLife throughout his distinguished career,” Kandarian said. “We thank him for his valuable contributions to the company and wish him the best during his retirement.”
Ramy Tadros will join MetLife in September as the company’s new Chief Risk Officer. Given the increasing importance of the risk function to the operation of financial services companies, the Chief Risk Officer position is being elevated to the Executive Group. Tadros will be joining MetLife from Oliver Wyman, where he is a partner, Global Head of Insurance, and member of the firm’s operating committee. Tadros has more than 19 years of experience in the insurance industry across strategy, distribution, product, risk and finance. He has advised leading life and P&C insurers in the United States, the United Kingdom, the Netherlands, Australia, and Southeast Asia.
“Ramy is a world-class risk manager who will help MetLife complete its transformation into a company that properly balances growth and risk while generating strong and predictable free cash flow,” Kandarian said.
MetLife, Inc. (NYSE: MET), through its subsidiaries and affiliates (“MetLife”), is one of the largest life insurance companies in the world. Founded in 1868, MetLife is a global provider of life insurance, annuities, employee benefits and asset management. Serving approximately 100 million customers, MetLife has operations in nearly 50 countries and holds leading market positions in the United States, Japan, Latin America, Asia, Europe and the Middle East. For more information, visit www.metlife.com.