Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Allianz Life Insurance Company of North America (Allianz Life) reported that it has appointed Jeff Pruitt to oversee all compliance activities for Allianz Life Financial Services (ALFS), the company's distributor of variable annuities, and Allianz Investment Management (AIM), which oversees investment management activities for all Allianz-affiliated insurance companies in North America.
Pruitt will report to Allianz Life Chief Compliance Officer Mike Brennan.
"I'm very excited to have Jeff join the team," said Brennan. "With his previous compliance experience in the financial services industry, I know he'll make an immediate and meaningful contribution in our continued efforts to drive results for our customers."
In its release, Allianz Life noted that Pruitt brings more than 10 years of compliance experience to this role. He joins Allianz Life from PNC Asset Management Group where he served as the chief compliance officer for funds and was senior vice president and director of asset management compliance.
Prior to PNC, Pruitt was deputy chief compliance officer for the Asset Management Compliance program at Thrivent Financial.
As a provider of fixed index annuities, Allianz Life is part of Allianz SE, specializing in the financial services industry with 142,000 employees worldwide.
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