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StanCorp Financial names new president and COO

Insurance provider StanCorp Financial Group has appointed Greg Ness as president and COO of StanCorp and its largest subsidiary, Standard Insurance Company.

The position includes responsibility for StanCorp’s insurance services and asset management segments. Mr Ness will also oversee new business development for both segments. Eric Parsons will continue as chairman and CEO of StanCorp and The Standard with primary responsibility for guiding adoption and execution of corporate strategy.

Mr Ness joined Standard Insurance Company in 1979 and has held a succession of positions with increasing responsibilities, most recently serving as senior vice president of insurance services.

Mr Parsons said: Greg’s extensive accomplishments across our organization over 30 years position him and the company well for future growth and innovation. In Greg’s new role, he will align the insurance services and asset management businesses to focus on providing our customers a suite of products under one brand.

StanCorp has also announced that Kim Ledbetter, senior vice president of asset management, will retire effective January 2, 2009. Mr Ledbetter joined Standard Insurance Company in 1974 and has been a member of the management committee since 1994.