AXA Financial Elects Two New Directors to Company Boards

NEW YORK, May 26, 2011 /PRNewswire/ --AXA Financial, Inc. announced that Ramon de Oliveira and Andrew J. McMahon have been elected to the Boards of Directors of AXA Financial, Inc., AXA Equitable Life Insurance Company, MONY Life Insurance Company and MONY Life Insurance Company of America. The elections were effective May 17, 2011. Additionally, de Oliveira has joined the Audit Committees of all four companies.

"Ramon and Andrew have distinguished track records that include many achievements within the financial services industry," said Mark Pearson, president and CEO of AXA Financial. "We look forward to their valuable insights and contributions, and we are delighted to welcome them to our boards."

Ramon de Oliveira

Ramon de Oliveira is currently managing director of the consulting firm Investment Audit Practice, LLC based in New York. Starting in 1977, de Oliveira spent 24 years at JP Morgan & Co. From 1996 to 2001, he was chairman and Chief Executive Officer of JP Morgan Investment Management. De Oliveira was also a member of the firm's Management Committee since its inception in 1995. Upon the merger with Chase Manhattan Bank in 2001, de Oliveira was the only executive from JP Morgan & Co. asked to join the Executive Committee of the new firm with operating responsibilities. De Oliveira was an adjunct professor of Finance at Columbia University between 2002 and 2006.

De Oliveira is currently a member of AXA Group's Board of Directors. He is also trustee and chairman of the Investment Committee of The Kauffman Foundation; the chairman of the Investment Committee of Fonds de Dotation du Louvre; a member of the Investment Committee of The Red Cross; and a director of Quilvest SA, Taittinger-Kobrand USA and L'Atelier – New York.

Previously, de Oliveira served as a member of AXA's Supervisory Board and as a director of JP Morgan Suisse, American Century Company, Inc., SunGuard Data Systems, and The Hartford Insurance Company. De Oliveira also served as chairman of the Board of Friends of Education. He received his M.A. in Law/Economics from the University of Paris (Paris, France) and his M.A. from Institut d'Etudes Politiques in Political Science (Paris, France).

Andrew J. McMahon

Andrew McMahon is president of AXA Equitable Life Insurance Company and a member of the company's Executive Committee.  He has responsibility for the company's Financial Protection & Wealth Management business, including life insurance manufacturing, marketing, distribution and in-force management. McMahon is also chairman of AXA Advisors, LLC, the company's broker/dealer and retail distribution channel comprised of more than 5,000 career-contracted financial professionals.

McMahon joined AXA Equitable in March 2005 as senior vice president to launch the company's Strategic Initiatives Group. Later that year, he was promoted to executive vice president and was named chief operating officer of AXA Advisors. He was named chairman of AXA Advisors in 2007.

Before joining AXA Equitable, McMahon was a principal at McKinsey & Co. and served as a life insurance practice leader in North America. Prior to McKinsey, he spent several years in management positions with various business divisions of General Electric. Mr. McMahon is a member of the Board of Trustees of Fairfield University. He earned a B.S. from Fairfield University and an M.B.A. from Columbia Business School.

About AXA Financial, Inc.

AXA Financial is one of the premier organizations in financial protection strategies and wealth management. Affiliated companies include AXA Equitable Life Insurance Company, AXA Advisors, LLC, AllianceBernstein, L.P., AXA Distributors, LLC and The MONY family of companies. AXA Financial is a part of the global AXA Group, a worldwide leader in financial protection strategies and wealth management.  "AXA Group" refers to AXA, a French holding company for an international group of insurance and financial services companies together with its direct and indirect consolidated subsidiaries. For more information, visit www.axa-equitable.com.

SOURCE AXA Financial