Northwestern Mutual is shaking up its leadership team, announcing that six individuals are receiving promotions, including a move to bolster its financial planning capabilities and the company’s first Black person and first woman leader of risk product lines and annuities. The biggest shakeup will be moving Ron Joelson, the firm’s former CIO, into a newly minted position as president of Northwestern Mutual Investment Management Company. All changes go into effect in 2021.
Joelson, CIO for the past eight years, will be focused on the financial planning capabilities the company provides its advisors in his new role, according to the announcement. He will report to Northwestern Mutual CEO John Schlifske.
Succeeding Joelson as CIO will be Jeff Lueken, who has been with the company since 1998. Lueken will be leaving the helm of Northwestern Mutual Capital to take on the new responsibilities of overseeing the $290 billion general account portfolio.
Lueken’s move gives Dan Julia an opportunity to move into a leadership role at Northwestern Mutual Capital. He’s been on the investment team since 2005, according to the announcement.
Kamilah Williams-Kemp is being named head of risk products, according to the firm. She’ll be leading product lines for life insurance, disability income insurance, long-term care insurance and annuities—the first Black person and first woman at the company to do so. She joined the firm in 1999.
Taking over Williams-Kemp’s responsibilities in the underwriting department is Deborah Schultz. She’s been with the firm since 2005 and comes with leadership experience at the financial management department.
Rounding out the promotions is David Simbro. He’s been promoted to VP of risk products conviction. A long-time employee of Northwestern Mutual, he’s been with the company since 1983 and was most recently head of risk products.
“These promotions reflect the strength of our leadership across the company, underscore our commitment to developing talent and ensure we have the depth of leadership to continue transforming our business to provide more people financial security,” Schlifske said in a statement.