NU Online News Service, June 17, 2003, 12:27 p.m. EDT – MetLife Inc., New York, says it has changed its executive line-up to “broaden the experience of its leadership team” and create a “strong succession plan for the future.”
The company has tapped Lee Launer, head of real estate investments, to succeed Jerry Clark as chief investment officer, and James Lipscomb, deputy general counsel, to succeed Gary Beller as general counsel.
Launer and Lipscomb will both be executive vice presidents, and both will be members of an executive group that reports to MetLife Chairman Robert Benmosche, MetLife says.
Clark, a vice chairman, has decided to retire after spending 35 years at MetLife and serving as the company’s investment chief for eight years.
Beller, who spent 16 years as general counsel at the American Express Company, New York, before joining MetLife in 1994, is also retiring. Beller, a senior executive vice president, will continue to be responsible for mergers, acquisitions, and government and industry relations until the end of the year.
Launer, the new investment chief, began working for MetLife in 1979, in the investments department. His career at MetLife has included two years in the company’s individual business unit.
Robert Merck, a managing director, will succeed Launer as the new head of real estate investments. Merck has been running the company’s real estate equity investments.