The Penn Mutual Life Insurance Company, Horsham, Pa., has announced that Eileen McDonnell has been named President of the 163-year old company. McDonnell has also been elected to the company’s Board of Trustees.

In her new role, McDonnell will lead the day-to-day operations of Penn Mutual. McDonnell joined Penn Mutual in February 2008 as Executive Vice President and Chief Marketing Officer, and Chairman of the Board of Hornor, Townsend & Kent, Inc. She is also a member of the Janney Montgomery Scott LLC Board of Managers.

“In just two years, Eileen McDonnell has made a significant impact on Penn Mutual, building a record of field and home office advocacy, fostering team work and enabling an environment of collaboration and leadership,” said Robert E. Chappell, Penn Mutual’s chairman and chief executive officer. “Her strategic and tactical expertise has created positive momentum for the company. I have every confidence that Eileen will continue to pilot Penn Mutual toward a bright and promising future that is full of possibilities.”

McDonnell is a 22-year veteran of the financial services industry. She was president of New England Financial, a wholly-owned subsidiary of MetLife and senior vice president at Guardian Life Insurance Company. McDonnell also held positions at AXA/Equitable. In addition, she was a member of the Master of Science in Management faculty at The American College, where she held the Chair for Women and Financial Services.

An active industry participant, Eileen is a member of the Board of Directors of LL Global, Inc., the holding company for LIMRA International and LOMA. She has also served on the Board of the Insurance Marketplace Standards Association (IMSA) and is a National Advisor for Vision 2020.

McDonnell graduated from Molloy College, Rockville Centre, New York, where she majored in mathematics and computer science. She formerly served as member of the Molloy College board of trustees. McDonnell earned her MBA in finance and investments from Adelphi University, in Garden City, NY.