Northwestern Mutual Announces Updates to Board of Trustees

MILWAUKEE, Sept. 14, 2023 /PRNewswire/ -- Northwestern Mutual, a leading financial security company, announced today that Anne F. Ackerley and Andrew J. Harmening have been appointed to serve on its Board of Trustees.

As a mutual company with a responsibility to policyowners, Northwestern Mutual has a Board of Trustees elected by its policyowners with responsibility and governance on company matters.

Ackerley is a seasoned investment executive with more than 35 years of experience in the development and distribution of investment strategies and services for institutional and retail clients. She currently serves as managing director and head of BlackRock's Retirement Group which brings the defined contribution and retirement insurance businesses together. Since joining BlackRock in 2000, she has held various leadership positions across the organization including Chief Marketing Officer, Chief Operating Officer of BlackRock's Global Client Group and head of its U.S. Retail Group. Ackerley also spent 15 years at Merrill Lynch in investment banking.

"Anne's leadership in retirement planning strategies across the defined contribution and retirement insurance businesses, as well as marketing, brand strategy, and institutional and retail client businesses brings additional expertise to Northwestern Mutual," said Northwestern Mutual Chairman, President and CEO John E. Schlifske.

She holds a bachelor's degree, magna cum laude and Phi Beta Kappa, in economics from Harvard College and an MBA degree from Harvard Business School.

Her appointment became effective September 1.

Harmening is a seasoned banking executive and CEO with more than 25 years of experience in consumer, small business and commercial banking.

"Andy's experience in commercial, small business and consumer banking across a number of different banking organizations, including his leadership role at Associated Bank brings a welcome perspective to Northwestern Mutual," added Schlifske. "We look forward to his contributions given his strong background in both digital transformation and omni-channel strategy as we look to enhance our service experience for our millions of clients across our comprehensive portfolio of insurance and investment offerings."

Harmening currently serves as president and chief executive officer of Associated Bank, one of the top-50 publicly traded bank holding companies in the U.S. Prior to joining Associated Bank, Harmening served as senior executive vice president, consumer and business banking director for Huntington Bank as well as vice chairman of the consumer banking division of Bank of the West and nine years in various roles at U.S. Bank in small business and commercial banking divisions. Harmening served 12 years on the Consumer Bankers Association Board of Directors.

Harmening earned a bachelor's degree from DePauw University and an MBA from the University of Cincinnati.

His appointment will become effective December 1.

Ackerley and Harmening are joining the Board following the departure of Ben Wilson, former Chairman at Beveridge & Diamond, P.C., and Mary Ellen Stanek, founder and managing director for Baird Advisors, who recently ended their long-standing respective terms on the Board in June.

"We welcome Anne and Andy's deep financial services leadership experience so that we can continue to meet the needs of our policyowners and clients while also ensuring the company's financial strength," added Schlifske.

For more information about Northwestern Mutual's commitment to sound corporate governance, visit our 2022 Sustainability Report.

About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With more than $570 billion of total assets being managed across the company's institutional portfolio as well as retail investment client portfolios, nearly $35 billion in revenues, and $2.2 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 111 on the 2023 FORTUNE 500.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.