Nationwide Financial Services President John Carter to retire at year end

After a 40-year career in the financial services industry, John Carter, President and COO of Nationwide Financial, announced his plans to retire from Nationwide at the end of this year.

“John’s leadership throughout his 20 years at Nationwide has played a significant and lasting role in the company’s success,” said Kirt Walker, CEO of Nationwide. “Through John’s vision and leadership, Nationwide Financial has grown into one of America’s leading financial services firms.”

Under Carter’s leadership, Nationwide Financial recorded four consecutive years of record-breaking sales, growing 62% since 2019. The firm also forged relationships with a broad network of some of the largest and most important distribution partners in the industry. In the past five years, the firm has modernized its core business systems, expanded and deepened distribution relationships, and launched new and innovative solutions. In fact, more than 25% of NF’s sales are through businesses, solutions and partnerships that did not exist five years ago, including some of the firm’s fastest-growing solutions: Protected Retirement, Pension Risk Transfer and CareMatters – Nationwide’s long-term care suite of products.

With a distinguished 40-year career in financial services, Carter joined Nationwide in 2005 as president of Nationwide Financial Sales and Distribution. He became president of the Nationwide Retirement Plans business in 2013 and was named President and COO of Nationwide Financial in 2019. Prior to Nationwide, Carter worked in leadership positions at Prudential Financial, UBS and Kidder Peabody.

Admired leader

Carter led the development of cultural programs designed to help employees bring their best selves to work, resulting in world-class engagement and high-performing teams. He spearheaded the introduction of the NF internship program in 2013, a successful program that continues today. A proud graduate of the University of Missouri, Carter has remained involved with the university through the years, including supporting the Tiger Scholarship Fund, serving on the Robert J. Trulaske College of Business Marketing Advisory Board, and creating the Sales and Customer Development program in the College of Business.

Industry advocate

Throughout his career, Carter has advocated for the retirement security of America, traveling to Washington, D.C., to lend a voice to regulatory and industry conversations impacting retirement planning. He served on the boards of several leading industry associations, including the American Council of Life Insurers (ACLI), Insured Retirement Institute, Employee Benefit Research Institute and the Columbus Chamber of Commerce.

In 2020, he championed the formation of the Financial Alliance for Racial Equity (FARE), a coalition of leading financial services firms, associations and Historically Black Colleges and Universities (HBCUs), with the goal of building sustainable economic wealth in diverse communities and increasing inclusivity in the financial services industry.

Community supporter

Within Nationwide, Carter served as co-executive sponsor the Nationwide Latino Alliance for four years and is the co-executive sponsor of the Nationwide Cares campaign supporting employee volunteerism and giving.

For the past five years, he has served as Chair of the Champions of the Community Board for the Nationwide Children’s Hospital Championship, one of the most successful PGA tournaments benefiting a single non-profit organization. The annual event has raised $30 million for pediatric cancer research and treatment since 2007.

“John will leave a lasting impact on the industry and Nationwide, and Nationwide Financial is well positioned to continue its above-industry growth for years to come because of his leadership,” said Nationwide CEO Kirt Walker. Walker shared that Carter will be with the organization through the end of the year.