COLUMBUS, Ohio, Dec. 12 /PRNewswire/ -- Nationwide Mutual Insurance
Company today announced that Paul Hondros, president and chief executive
officer of Nationwide's NWD Investment Group (formerly Gartmore Group), as
well as non-executive chairman of Gartmore Investment Management since
2002, plans to leave NWD to pursue other opportunities, effective December
15, 2006. John Grady, who joined NWD in October as transition manager, will
lead all NWD operations on an interim basis.
Nationwide has been examining how best to align NWD as a part of its
operations since the sale of Gartmore's UK-based operations was completed
in October. As previously announced, Nationwide is pursuing the possible
sale of the retail mutual fund business to Nationwide Financial.
"I have greatly valued Paul's strategic insights on global investment
management," said Jerry Jurgensen, chief executive officer of Nationwide.
"Under Paul's leadership, Gartmore expanded its product and geographic
reach, added to its range of fund and product offerings both organically
and through acquisition and increased revenues to more than $750 million by
the end of 2005. I wish Paul all the best in the next chapter of his
distinguished career. We look forward to working with NWD's talented
leadership team going forward."
John Grady came to Nationwide from Constellation Investment Management
Company, a Berwyn, PA-based investment adviser and sponsor of the
Constellation Funds Group complex, where he served as chairman and chief
executive officer of both firms. Prior to Constellation, Grady served as
chief operating officer for Turner Investment Partners, Inc., a registered
investment adviser based in the Philadelphia area, and was a partner in the
investment management practice group with Morgan, Lewis & Bockius LLP.
Nationwide, based in Columbus, Ohio, is one of the largest diversified
insurance and financial services organizations in the world, with more than
$158 billion in assets. Nationwide ranks #98 on the Fortune 100 list. The
company provides a full range of insurance and financial services,
including auto, motorcycles, boats, homeowners, life, commercial insurance,
administrative services, annuities, mortgages, mutual funds, pensions and
long-term savings plans. The Nationwide companies include the country's
seventh-largest property/casualty, the fourth-largest homeowners, the
sixth- largest auto insurance group and the country's largest farm owners
insurer. Nationwide Life Insurance Company, the major subsidiary of
Nationwide Financial, ranks 11th in assets according to A.M. Best. For more
information, visit http://www.nationwide.com.
Nationwide and the Nationwide Framemark are federally registered
service marks of Nationwide Mutual Insurance Company. On Your Side is a
service mark of Nationwide Mutual Insurance Company.
Eric Hardgrove
(614) 249-6349
hardgre@nationwide.com
SOURCE Nationwide
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Related links:
http://www.nationwidefinancial.com
http://www.prnewswire.com/comp/607050.html /
CONTACT:
Eric Hardgrove of Nationwide,
+1-614-249-6349, or hardgre@nationwide.com
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