Guardian Hires Hartford's Rosenblum for Government Affairs Roleby
Rosenblum will set strategic direction for government advocacy
He joins at `unprecedented' time for change, CEO says
Guardian Life Insurance Co. of America hired Hartford Financial Services Group Inc.’s Jay Rosenblum as senior vice president of government affairs as the industry faces increased regulation.
Rosenblum will be based in Washington and help set the strategic direction of Guardian’s government advocacy efforts, the New York-based insurer said Tuesday in an e-mailed statement. He will report to Chief Executive Officer Deanna Mulligan.
Regulators have been scrutinizing providers of retirement products and insurance to improve customer protections and avoid a repeat of the 2008 rescues that were needed to prop up companies including American International Group Inc. A U.S. panel has designated AIG, Prudential Financial Inc., and MetLife Inc. as systemically important financial institutions. And the Department of Labor says new rules are needed so that savers won’t be pushed into high-fee products by brokers who make commissions on the sales from banks or insurers.
“Jay joins Guardian at a time of unprecedented change for the insurance industry. A key element in attaining our future growth will be our ability to predict, understand, and manage this changing regulatory environment,” Mulligan said in the statement. “Jay’s background in financial regulation and tax policy, along with his political acumen and strong reputation in the insurance industry, will be valuable assets as we further engage with state and federal regulators.”
Rosenblum previously led Grant Thornton’s government affairs office, and also worked for the Clinton administration, including roles in the Labor Department and the White House Counsel’s office, according to the statement. He earned his bachelor’s from Tufts University and law degree from George Washington University Law School.
Insurers have been seeking to add expertise in government affairs. Liberty Mutual Holding Co. hired Citigroup Inc.’s Colin Dowling in 2013 to lead its public affairs office in Washington and MetLife appointed former Commerce Secretary Carlos Gutierrez to its board of directors that same year. Matthew Sturdevant, a spokemsan for Hartford, had no immediate comment.