voya financial inc (VOYA) Key Developments
City of San Mateo Retirement Plans Selects Voya Financial, Inc. as New Single Service Provider
Aug 26 15
Voya Financial, Inc. announced that its Retirement business has been selected as the new single service provider for the City of San Mateo, California, defined contribution plans. Effective second quarter, the new five-year relationship follows the City of San Mateo's decision to consolidate service providers for its voluntary 457(b) Deferred Compensation Plan as well as the administration of its Retiree Health Savings Account Program and 3121 Plans. The City previously utilized the services of five different providers and chose Voya as the sole provider pursuant to a competitive bidding process. The combined plans represent approximately $58 million in total assets. As part of its commitment to advancing the retirement readiness of Americans, Voya will provide the City of San Mateo with full-service plan record keeping and administration support, including on-site resources for its employees. Voya representatives will educate eligible employees about investment options under the plan and assist them in their overall preparedness efforts. Voya will also assist the City in developing and executing targeted marketing campaigns designed to increase plan participation. In addition to localized support, employees will also have access to tools and resources such as Voya's newly enhanced participant website, which features the myOrangeMoney retirement income planning experience.
Trish Walsh to Join Voya Financial as Chief Legal Officer Effective September 14, 2015
Aug 11 15
Voya Financial, Inc. announced that Trish Walsh will join the company as executive vice president and chief legal officer, effective September 14, 2015. In this role, Walsh will oversee all aspects of Voya's Law, Compliance and External Affairs department, serving as an advisor to senior management and the board of directors on legal, compliance, securities and corporate governance matters. Walsh will report to Voya's chairman and CEO, Rodney O. Martin, Jr., and serve on the company's executive committee. Walsh joins Voya from Cigna, Inc., where she served as deputy general counsel and global chief compliance officer since 2012. In this role, she oversaw a number of key risk mitigation strategies and
represented the company with state and federal regulators. She joined Cigna in 2011 as chief counsel for its U.S. Healthcare business.
Voya Financial, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 5 15
Voya Financial, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues were $2,993.9 million against $2,700.1 million a year ago. Income before income taxes was $486.2 million against $421.0 million a year ago. After-tax operating earnings of $179 million, or $0.78 per diluted share, compared with $213 million, or $0.83 per diluted share in the second quarter of 2014. Net income available to common shareholders of $285 million, or $1.24 per diluted share, compared with $248 million, or $0.97 per diluted share in the second quarter of 2014. Ongoing Business operating earnings were $312 million, compared with $356 million in the second quarter of 2014. Ongoing Business adjusted operating earnings before income taxes were $319 million, compared with $346 million in the second quarter of 2014. Book value per share (excluding AOCI) of $56.33. Total operating earnings before income taxes were $263 million, compared with $328 million in the second quarter of 2014.
For the six months, the company reported total revenues were $5,624.9 million against $5,375.0 million a year ago. Income before income taxes was $747.5 million against $727.3 million a year ago. Adjusted operating earnings before income taxes- ongoing business was $638.1 million against $633.1 million a year ago. Operating earnings before income taxes-total consolidated was $552.1 against $559.4 a year ago. Net income available to common shareholders was $108.0 million or 2.02 per diluted share against $180.1 million or 1.96 per share a year ago. Book value per share was $56.33 against $46.01 a year ago. Return on adjusted operating return of equity- TTM was 12.6% against 10.7% a year ago. Return on adjusted operating return of equity-annualized was 11.8% against 10.9% a year ago.
Voya Financial Declares Third Quarter 2015 Common Stock Dividend, Payable on September 30, 2015
Jul 30 15
Voya Financial, Inc. announced that its board of directors has declared a common stock dividend of $0.01 per share for the third quarter of 2015. The dividend is payable on September 30, 2015 to shareholders of record as of August 31, 2015.
Voya Financial, Inc. Announces Executive Appointments
Jul 30 15
Voya Financial, Inc. announced that Ruth Ann M. Gillis and Byron H. Pollitt, Jr. have been elected to the company's board of directors, effective July 30, 2015. Gillis retired in 2014 as executive vice president and chief administrative officer (CAO), Exelon Corporation, and president, Exelon Business Services Company. She will serve on the board's finance committee and the compensation and benefits committee. Pollitt retired in 2015 as executive vice president and chief financial officer (CFO), Visa Inc. He will serve on the board's audit committee and the technology, innovation and operations committee. In her most recent role at Exelon – from 2005 to 2014 – Gillis oversaw key operations, including information technology and innovation, real estate, supply chain, and accounts payable and payroll. As CAO, Gillis was responsible for significant cost reductions and operating synergies. She previously served as executive vice president of Exelon's Commonwealth Edison Company subsidiary as well as senior vice president and CFO of Exelon Corporation. Pollitt served as CFO of Visa from 2007 to 2015. In this role, he was responsible for corporate finance, sourcing and facilities.