NU On-Line News Service, Oct. 10, 9 a.m. – After 25 years with Hartford Life, Peter W. Cummins, senior vice president for investment products sales and marketing, has announced his retirement from the company, a member of the Hartford Financial Services Group, Inc., Simsbury, Conn. His retirement will be effective in February.
Cummins’ accomplishments include the introduction of Hartford Life’s top selling variable annuity products, the Director, Putnam Hartford Capital Manager and Hartford Leaders. He also helped his company expand into retail mutual funds and pioneered the sales of these products through broker-dealers and financial institutions.
Hartford says that sales of both fixed and variable annuities grew to $10 billion a year under his leadership. In 1996, Cummins headed the expansion of the company’s investment product business to include retail mutual funds based on the investment portfolios available in the Director. In 2000, the Hartford Mutual Funds reached $10 billion in assets.
Bruce Ferris and Ryan Johnson will lead sales and marketing for Hartford Life’s investment products division, each as vice president and director. Ferris has been vice president for investment product sales through financial institutions, and Johnson has held the same position for sales through broker-dealers.