Reuters: Regulatory News: Hartford wealth chief to get $2 million bonus to stay-filing

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Hartford wealth chief to get $2 million bonus to stay-filing Mar 25th 2012, 16:38 NEW YORK, March 25 | Sun Mar 25, 2012 12:38pm EDT NEW YORK, March 25 (Reuters) - The Hartford Financial Services Group offered a retention bonus worth up to $2 million to the head of its wealth management group if he stays through February 2013, according to a regulatory filing. David Levenson, president of the wealth management division, is entitled to receive the extra compensation as long as he remains "actively employed by the company in the performance of his duties on certain specified payment dates through February 28, 2013," the Connecticut-based insurer said in the Friday filing. The Hartford is currently battling calls from its biggest shareholder, hedge fund Paulson & Co, to split into separate life and property insurers. The company announced Wednesday it would sell most of its life-insurance related operations to focus on its property insurance, group benefits and mutual funds businesses. But hedge fund billionaire John Paulson wants the company to go further and called the plan to shut down its annuity business a "first step" that falls short of fixing the company's other problems and sagging stock price. Levenson was promoted to head wealth management midway through 2010, and joined the company in 1995 from Fidelity Investments.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions