NEW YORK, July 10, 2019 /PRNewswire/ -- Aflac Global Investments announced today that it has hired Stephen Scott as managing director; chief financial officer of Aflac Global Investments, reporting to Eric M. Kirsch, executive vice president and global chief investment officer of Aflac Incorporated and president of Aflac Global Investments. In this new role, Scott is responsible for all financial aspects of the investment division's business, including managing the daily operations of the investment division globally and serving as the business lead working with investment accounting and accounting policy at the divisional and asset class level.
With more than 20 years of industry experience, Scott most recently served as chief financial officer for BNY Mellon Investment Management, which has over $1.8 trillion of assets under management. In that capacity he was responsible for financial controls, business strategy, compliance and certain treasury functions. Prior to that, he served as BNY Mellon Investment Management's Global Head of FP&A, responsible for various reporting and controller functions in its London and New York offices. Scott previously held positions with UBS and Lloyds Treasury Group.
Aflac Global Investments also announced that, effective July 1, Teresa Q. McTague has been promoted to senior managing director; U.S. chief investment officer, global co-head of Aflac Global Investments' external manager platform. McTague also manages the investments risk team based in the U.S. and will continue to report to Eric M. Kirsch.
McTague joined Aflac in 2013 as director, U.S. chief investment officer. She was promoted to managing director, U.S. CIO in 2014, responsible for asset allocation, asset liability management, investment strategy, ensuring implementation of portfolio management in the U.S., plus the expanded role of launching the Global Investments external manager platform. In early 2018, she was named global co-head of the external manager platform and took responsibility for managing the investment risk functions. With more than 30 years of investment experience, McTague previously served as senior client strategist at General Re-New England, with responsibility for comprehensive management of client portfolios in the areas of portfolio design, asset allocation, ALM, and risk management, as well as the implementation of these strategies within investment policy guidelines and statutory and regulatory constraints.
Commenting on the announcements, Executive Vice President; Global Chief Investment Officer of Aflac Incorporated and President of Aflac Global Investments Eric M. Kirsch commented: "It is an exciting time for Aflac Global Investments as we continue to expand our asset management capabilities and business opportunities. Adding Stephen as our divisional CFO supports our strategic business growth objectives, and we are pleased to add his vast experience to our platform. In addition, it is great to have such talented leaders and recognize Teresa for her many accomplishments in driving Aflac Global Investments' success. In an extremely challenging investment environment, I am confident that Aflac Global Investments will continue to find attractive investment opportunities to deliver stable returns, diversity and high quality to our insurance client's global portfolios as we work to drive both shareholder and policyholder value."
About Aflac Global Investments
Aflac Global Investments refers to Aflac Asset Management LLC and Aflac Asset Management Japan Ltd., which are the asset management subsidiaries of Aflac Incorporated. Aflac Global Investments is responsible for managing the invested assets of Aflac Incorporated's insurance subsidiaries in Japan and the U.S. At the end of 2018, Aflac Global Investments managed more than $120 billion in general account assets and had 125 investment and support professionals who work at its offices in New York and Tokyo.
About Aflac Incorporated
Aflac Incorporated (AFL) is a Fortune 500 company, helping provide protection to more than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading supplemental insurer by paying cash fast when policyholders get sick or injured. For more than six decades, insurance policies of Aflac Incorporated's subsidiaries have given policyholders the opportunity to focus on recovery, not financial stress. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan where it insures 1 in 4 households. Through its trailblazing One Day PaySM initiative in the United States, for eligible claims, Aflac can process, approve and electronically send funds to claimants for quick access to cash in just one business day. For 13 consecutive years, Aflac has been recognized by Ethisphere as one of the World's Most Ethical Companies. In 2018, Fortune magazine recognized Aflac as one of the 100 Best Companies to Work for in America for the 20th consecutive year and in 2019 Fortune included Aflac on its list of World's Most Admired Companies for the 18th time. To find out more about One Day PaySM and learn how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol.
Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. The company desires to take advantage of these provisions. This document contains cautionary statements identifying important factors that could cause actual results to differ materially from those projected herein, and in any other statements made by company officials in communications with the financial community and contained in documents filed with the Securities and Exchange Commission (SEC). Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Furthermore, forward-looking information is subject to numerous assumptions, risks and uncertainties. In particular, statements containing words such as "expect," "anticipate," "believe," "goal," "objective," "may," "should," "estimate," "intends," "projects," "will," "assumes," "potential," "target," "outlook" or similar words as well as specific projections of future results, generally qualify as forward-looking. Aflac undertakes no obligation to update such forward-looking statements.
The company cautions readers that the following factors, in addition to other factors mentioned from time to time, could cause actual results to differ materially from those contemplated by the forward-looking statements: difficult conditions in global capital markets and the economy; exposure to significant interest rate risk; concentration of business in Japan; foreign currency fluctuations in the yen/dollar exchange rate; operation of the former Japan branch as a legal subsidiary; limited availability of acceptable yen-denominated investments; deviations in actual experience from pricing and reserving assumptions; ability to continue to develop and implement improvements in information technology systems; governmental actions for the purpose of stabilizing the financial markets; interruption in telecommunication, information technology and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; ongoing changes in the Company's industry; failure to comply with restrictions on patient privacy and information security; extensive regulation and changes in law or regulation by governmental authorities; changes in tax rates applicable to the company; defaults and credit downgrades of investments; ability to attract and retain qualified sales associates, brokers, employees, and distribution partners; decline in creditworthiness of other financial institutions; subsidiaries' ability to pay dividends to Aflac Incorporated; decreases in the Company's financial strength or debt ratings; inherent limitations to risk management policies and procedures; concentration of the Company's investments in any particular single-issuer or sector; differing judgments applied to investment valuations; ability to effectively manage key executive succession; significant valuation judgments in determination of amount of impairments taken on the Company's investments; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, war or other military action, terrorism or other acts of violence, and damage incidental to such events; changes in U.S. and/or Japanese accounting standards; loss of consumer trust resulting from events external to the Company's operations; increased expenses and reduced profitability resulting from changes in assumptions for pension and other postretirement benefit plans; level and outcome of litigation; and failure of internal controls or corporate governance policies and procedures.
Analyst and investor contact – David A. Young, 706.596.3264 or 800.235.2667; FAX: 706.324.6330 or email@example.com
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