Great-West Financial Names Michael P. McCarthy SVP of National Sales
Industry Veteran to Lead Retirement Income Distribution Strategy
GREENWOOD VILLAGE, Colorado., April 5, 2016 – Great–West Financial today officially announced the appointment of Michael P. McCarthy as Senior Vice President of National Sales. He will oversee all aspects of the firm’s variable annuity wholesaling operation, including sales, service and distribution. McCarthy, based in Greenwood Village, reports directly to Bob Shaw, President of Individual Markets for Great–West Financial.
“Great–West has a tremendous opportunity to expand its presence as a retirement income provider—we have new product strategies and multiple new distribution channels. Mike is the ideal leader to help take us to the next level,” said Shaw. “His vast experience providing sales leadership will be invaluable to our efforts in this critically important market.”
McCarthy’s career includes over 25 years of experience and a track record of developing successful distribution organizations. For the past seven years McCarthy was managing director and chief sales officer with AXA Equitable where he was responsible for all sales and distribution of variable annuities. In this role, he managed five distribution channels that sold variable annuities through financial advisors and delivered over $7 billion in sales in 2014.
Earlier, McCarthy served as National Sales Manager, for AXA, where he rose through the ranks eventually leading broker–dealer, bank and wholesaling teams. Previously, McCarthy held roles with Dividend Capital and Scudder Investments, among other organizations.
McCarthy is a graduate of St. Joseph’s University in Philadelphia, where he earned a B.S. degree in finance. McCarthy maintains FINRA Series 7, 24 and 63 securities licenses.
About Great-West Financial
Established 125 years ago, Great-West Financial administers about $25 billion in assets and manages almost a half-million individual accounts1. The company’s offerings range from investments, life insurance, annuities and executive benefits products marketed under the Great-West Financial brand to retirement savings products and services provided by Empower Retirement, the nation’s second-largest retirement plan record keeper by participants2. Great-West Financial is also the No. 2 underwriter of life insurance sold through banks3 and No.3 in bank-owned life insurance sales.4
Together with Empower Retirement, the company administers a total of $465 billion in assets for 7.9 million retirement, insurance and annuity customers.5
Great-West Financial® is a registered mark of Great-West Life & Annuity Insurance Company. It is an indirect, wholly owned subsidiary of Great-West Lifeco Inc. and “A Member of the Power Financial Corporation Group of Companies” ®.
Stephen Gawlik – Office: 303-737-0899; Cell: 617-417-4408
1As of June 30, 2015, includes accounts of Great-West Life & Annuity Insurance Company and its subsidiaries.
2PLANSPONSOR June, 2015
3BISRA Life Report, Fourth Quarter 2014, based on total premiums at Dec. 31, 2014
4IBIS Associates, 2014
5As of June 30, 2015