NORTHBROOK, Ill., July 15 /PRNewswire-FirstCall/ -- The Allstate
Corporation (NYSE: ALL) today announced that it has appointed Eric A. Simonson
to the position of Senior Vice President and Chief Investment Officer
effective July 29, 2002. He will also assume the position of President,
Allstate Investments LLC. Mr. Simonson replaces Casey J. Sylla, who is
currently serving as acting Chief Financial Officer following the retirement
of former CFO John Carl.
Mr. Simonson has had a distinguished career in diversified financial
services companies. He joined the Prudential Insurance Company of America in
1975 and held a variety of investment management positions including President
and CEO of Prudential Asset Management Group, where he headed all
institutional investment business for Prudential. He was then appointed
President and CEO of Prudential's Private Asset Management Group, where he
assumed responsibility for a $70 billion portfolio in proprietary and
institutional client investments in domestic and international private asset
classes.
In 1996 Mr. Simonson became Senior Vice President and Chief Investment
Strategist of John Hancock Mutual Life Insurance Company, where his
responsibilities included investment policy and strategy, asset and liability
management, asset allocation, and General Account portfolio management.
"We are fortunate that we have been able to attract a Chief Investment
Officer of Ric's caliber and experience," Allstate Chairman, President and CEO
Ed Liddy said today.
"As we continue our transformation to become a broader based financial
services organization, his expertise in building organizations of investment
professionals to meet the needs of institutional and individual investors
across a broad range of asset classes will add depth to what is already a
highly regarded investment group."
Mr. Simonson earned an A.B. degree from Princeton University and then
served from 1967-1973 as an officer in the U.S. Navy. Following active duty
he enrolled in the Graduate School of Business at Columbia University and
graduated with his M.B.A. in 1975. In addition to his professional
qualifications, he has been a lecturer on strategic management of financial
institutions at the Darden School, University of Virginia, an Advisor to the
Masters Degree Program in Investment Management for the Graduate School of
Business at Boston University, and a Corporate Advisor to Samsung Life
Insurance Co., Ltd.
SOURCE The Allstate Corporation
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CONTACT:
Michael Trevino, Media Relations of The
Allstate Corporation, +1-847-402-5600
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