The investment firm that is acquiring Security Benefit Corp. has brought in a senior managing director with experience at AXA S.A. and Guardian Life Insurance Company of America.
Guggenheim Partners L.L.C., Chicago, says Michael Kiley, the new senior managing partner, will “work closely with Todd Boehly,” a managing partner in the office of the chief executive officer at Guggenheim Partners, as the firm completes the Security Benefit acquisition.
Guggenheim announced plans to acquire Security Benefit, Topeka, Kan., in February and since then has announced plans to invest $175 million in the life insurer.
Guggenheim hopes to close on Security Benefit by Sept. 30.
Kiley “brings a strong track record of experience in both the insurance and the asset management industries,” Boehly says in a statement. “He is playing an important role in the transaction, and he will be integral in helping Guggenheim expand the size and the scope of the Security Benefit franchise.”
Kiley will work with the current leaders of Security Benefit Life and Security Global Investors to develop new products and new strategies, Guggenheim says.
“Guggenheim believes that there is a substantial opportunity to capitalize on the intersection of insurance and asset management — two industries where Kiley has extensive knowledge and experience,” the firm says.
Kiley most recently was president of the Van Kampen Investments, a division of Morgan Stanley & Company Inc., New York.
He also has been president of the Travelers Portfolio Group division at Citigroup Inc., New York. Earlier, he worked in annuity distribution at Guardian, New Yorok,
Kiley has a bachelor’s degree from Holy Cross College.