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Northwestern Mutual Keeps Its Chief Distribution Officer in Place

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Northwestern Mutual Life Insurance Company announced a wave of executive changes Wednesday — but it seems to be happy enough with its sales and its finances that it kept the executives in charge of those matters in place.

The Milwaukee-based mutual insurer kept Tim Gerend on as chief distribution officer.

(Related: Americans’ Debt Declining, but Still Concerning: Northwestern Mutual)

The company also kept Mike Carter as its chief financial and risk officer, and Ron Joelson as its chief investment officer.

The company has promoted Souheil Badran to chief operating officer, from chief innovation officer.

Badran has been a senior vice president at First Data Corp. and president of Ant Financial’s Alipay unit.

He has served on the board of the Children’s Cancer Research Fund for the past five years.

John Schlifske continues to be Northwestern Mutual’s chairman and president.

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