John Poff, the president and CEO of Mutual Service Corp. and the chair in 2006 of the Financial Services Institute, has announced his retirement from the broker/dealer. In a statement, John Dixon, president of Pacific Select Group and current chairman of MSC, said he will assume the CEO role as well at MSC, and that Poff will serve as a consultant through the end of 2007. MSC is a wholly owned subsidiary of Pacific Life Insurance Co.
Poff has served on the board of the FSI since its inception, and gained wide praise for his leadership of the independent broker/dealer group while serving as chairman of FSI in 2006.
In an interview, Poff denied speculation that his retirement was in any way connected to reports that MSC parent company Pacific Life was planning to sell its broker/dealers. Instead, he said he had planned to retire this year, when he turns 60, and admitted that while some “nagging health problems” contributed to his decision, “I’m not dying of anything.” For the balance of 2007, Poff said he would assist Dixon in the “internal and external search” for a new CEO, and since “my principal role within the firm over the past few years has been running the strategic planning group,” he anticipates that he will continue working on some strategic initiatives for MSC.