National Life CEO MacLeay Announces Retirement

first_imgNational Life Group CEO Announces RetirementMontpelier, Vermont (June 10, 2008) – Thomas H. MacLeay announced today that he will retire by year’s end as President and Chief Executive Officer of National Life Group(r). MacLeay will remain as Chairman of the Board of the financial services company.”National Life is strong,” said MacLeay, 58. “This is an excellent time to make the transition to new leadership.”MacLeay, a Vermont native who has worked at National Life for 32 years, has served as President of the company for a total of 11 years and CEO and Chairman for the past six years.”I have accomplished what I set out to do six years ago, which was to strengthen the company’s financial foundation, diversify and grow its businesses, and build an executive team superbly qualified to continue to move the organization forward,” said MacLeay.National Life Group(r), a Fortune 1000 company, serves more than 700,000 customers. With 2007 revenue of $1.4 billion and net income of $109 million, the companies of National Life Group(r) have roughly 900 employees, with most located at the Group’s home office in Montpelier, Vermont. Group companies also maintain offices in Dallas, New York, San Francisco, Boston and Philadelphia.National Life Group(r) (NLGroup) includes its flagship company, National Life Insurance Company, founded in Montpelier in 1848. Also in NLGroup are Life Insurance Company of the Southwest in Dallas, Texas, and Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors, all located in Montpelier.David Coates, lead independent director on the National Life Group(r) Board of Directors, said MacLeay has revitalized the company. “The right person in the right place at the right time can change everything – and for National Life, Tom MacLeay has been that person.””When the Board named Tom as CEO, I said no one was better suited, better prepared or better able to fill the leadership post. Time has proven me right. By every measure National Life is stronger and more vibrant today than it was before Tom took over,” said Coates.During MacLeay’s tenure as chief executive officer, National Life Group(r) has experienced exceptional growth by every possible measure. NLGroup’s assets under management jumped from $13 billion in 2002 to $20 billion this year; net income has broken the $100 million mark each of the last two years, and statutory capitalization has been growing at an annual rate of 15 percent since 2002.”Most importantly, Tom has worked to grow and diversify the businesses so that today the company has an excellent and healthy balance of business, with about a third of its assets under management from life insurance, a third from annuities and roughly 25 percent from Sentinel Investments, our asset management company,” said Coates.MacLeay also has been responsible for enhancing National Life Group’s(r) commitment to the environment and its reputation as a socially responsible corporate citizen. Under his leadership the company formed a major charitable foundation and embarked upon an ambitious, multi-faceted project to turn its Montpelier headquarters into a green campus. MacLeay just announced the company will soon begin installing on its roof the largest solar electricity project in the state. National Life Group(r) is on schedule to win coveted LEED (Leadership in Energy and Environmental Design) certification this year for its Montpelier headquarters.Coates said he and the other members of the Board are pleased MacLeay will remain as Chairman of the Board, “and that we will still have the benefit of his leadership and vision.”According to Coates, the Board has been focused on leadership development and succession planning for some time in anticipation of MacLeay’s retirement. The Board has already begun a process to select a successor.MacLeay joined National Life in 1976 as a security analyst, rapidly advancing through the management ranks and serving in pivotal positions at critical times in the company’s growth and expansion. He became President and Chief Operating Officer in 1996; in 2002 he was named Chief Executive Officer and Chairman of the Board.MacLeay said he is looking forward to continuing a role with the company as Chairman of the Board, and is also eager to have time for other endeavors. “Charlotte and I are looking forward to spending more time with our children and grandchildren and hope to do some extended travel,” he said. “We are both active with several organizations, have deep roots in the local community and have no plans to change our primary residence.”MacLeay is Chairman of the Board of Sentinel Group Funds, Inc., and currently serves on the Board of Directors of Chittenden Trust Company and the Central Vermont Economic Development Corporation. He is a Trustee and Chairman of the Finance Committee of the Air Force Aid Society.The MacLeays live in Montpelier. They have two grown children, David MacLeay and Kate MacLeay Crespo, and two grandchildren.###About National Life Group(r)National Life Group(r) is a diversified family of financial service companies that has successfully forged a strong identity as a product innovator. Companies in the group offer a comprehensive portfolio of life insurance, annuity and investment products to help individuals, families and businesses pursue their financial goals.National Life, a Fortune 1000 company, serves more than 700,000 customers. With 2007 revenue of $1.4 billion and net income of $109 million, members of National Life Group(r) employ roughly 900 employees, with most located at its home office in Montpelier, VT. Group companies also maintain offices in Dallas, New York, San Francisco, Boston and Philadelphia.The Group is made up of its flagship company, National Life Insurance Company, founded in Montpelier, Vermont in 1848; Life Insurance Company of the Southwest, Dallas, Texas, and Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors, all located in Montpelier.National Life Group(r) is a trade name of National Life Insurance Company and its affiliates. National Life Insurance Company’s variable insurance products are distributed by Equity Services, Inc., Member FINRA and SIPC. Sentinel Funds are distributed by Sentinel Financial Services Company, Member FINRA/SIPC. Life Insurance Company of the Southwest offers fixed insurance products in all states except New York. All companies referenced are affiliates of National Life Group(r). Each company of the National Life Group(r) is solely responsible for its own financial condition and contractual obligations.last_img read more

NCUA to release risk-based capital proposal today

first_imgCUNA continues to press agency for significant changes to the plan.NCUA is expected to unveil its revised risk-based capital proposal during its board meeting today.The agency has agreed to let CUNA and a limited number of other parties to record today’s much-anticipated session on risk-based capital, CUNA’s News Now reports.The video cameras are a significant change from the agency’s standard operating procedures for board meeting.CUNA President/CEO Jim Nussle thanked NCUA for agreeing to CUNA’s request to video record the important RBC discussions. He noted that CUNA will post the video to and announce through News Now when the recording is available.“We look forward to the meeting, and hope that live-streaming will become available in the near future to best serve all those in the credit union system,” Nussle says.CUNA continues to press the agency for significant changes on:Risk weightingsA lower risk-based capital component for well-capitalized credit unions;Several years for implementation;Clarification of the very limited use of additional capital requirements; andHaving good will and credit unions’ National Credit Union Share Insurance Fund deposit factored into risk-based capital calculations. continue reading » ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Dad of a Young Girl Shares 20 Simple Yet Important Truths About Upbringing

first_imgGive her moments that you both can share.2. Take her camping. When she gets older, give her more freedom. She’ll exceed your expectations.4. Remember that she’s a butterfly that will fly away one day. She needs your support all the time, all life long. She’ll grow up and start looking for a hero. And you’ll probably be her hero. You won’t even need to wear a red cloak.18. Tell her how beautiful she is. Your favourite teams, career, TV, and hobbies won’t disappear. But your daughter will grow up and enter her own life. Keep your priorities in mind.And here is Michael Mitchell and his adorable daughter.Source Enjoy the years when she’s still a “caterpillar.”3. Don’t worry about Christmas and birthday presents. She’ll probably wriggle even more than a hooked worm. That’s OK.15. Hug her. There are not many things that can soothe a crying little girl better than her dad’s shoulder. Keep that in mind.14. Always be with her. She’ll always remember that dad let her “steer.”7. Never miss her birthdays. Don’t think about it. Just say “yes” without even thinking at least once in your life.12. She’s as talented as any boy. Do it now because your back is strong and your daughter is still tiny.19. Be her hero. Make sure she knows that and keep encouraging her.11. Yes, you look silly when you play with her. Encourage her.9. She’ll always wait for you to come home. Today she wears diapers, tomorrow you give her your car keys, and before you notice, she’ll start conquering this world. One day, she’ll remember this moment. And that’s priceless.16. Take her fishing with you. 10 years later, she won’t remember what you gave her. But she’ll always remember that you weren’t there.6. Her intelligence will help her more than her beauty to accomplish things. Dads who adore their daughters excite internet users everywhere. Michael Mitchell has a blog called Life to Her Years where he gathers other dads’ advice. Michael turned the ways of fatherhood into a life philosophy and he inspires a lot of people from all over the world.We gathered the most interesting tips about raising kids by Michael Mitchell that can be put to use right now.20. Let her ride on your shoulders. It’s true magic. Show her this giant world. Take a look at her eyes full of astonishment when she sees its beauty for the first time.1. Fatherhood is your main duty. But you still do it because she needs it.10. When she learns how to kiss, she’ll start kissing all over your face. Make sure she knows that.5. Trust her. You don’t need a strong reason to spend time with your daughter. Be interested in things that she cares about. It’s important for her to see that her dad takes part in each moment.13. One day she’ll want to have a puppy. Say it over and over again. One day, popular magazines and Hollywood will try to convince her otherwise.17. Enjoy each moment spent with her. Don’t be late.8. Let her hold the wheel.last_img read more