Nationwide this week announced the retirement of Annuity President Eric Henderson after a four-decade career at the firm.
Henderson announced he would retire at the end of 2024. He has led the Nationwide annuity business team since 2007 and began serving as president of Nationwide Annuity in 2019, leading the firm past volatile markets and difficult interest environments.
Under his leadership, Nationwide has launched innovative solutions aimed at shifting consumer needs and has expanded digital and technological capabilities. These efforts have built greater discipline around product portfolio management and profitable growth pricing, Nationwide says.
“Throughout his career, Eric has displayed tremendous resiliency and courage to successfully manage risk and lead teams through challenging economic conditions and turbulent markets,” said John Carter, president and COO of Nationwide Financial.
“When headwinds began to impact the variable annuity business during the pandemic, Eric and his leadership team quickly pivoted focus to our portfolio of fixed products,” Carter further explained. “That shift paid off, with nearly $10 billion in fixed annuity sales in 2023, at a time when others in the industry were forced to exit business lines. Outcomes like this are indicative of Eric’s entire career in which his team helped us grow market share, contribute more profit to the broader Nationwide enterprise and become widely regarded as one of the top annuity providers in the industry.”
Henderson started his career as an actuarial assistant for Nationwide in 1985, before moving up to lead the firm’s annuity business. Since taking helm, Nationwide’s annuity business has produced $150 billion in sales between 2007 and 2023.
Aside from his work at Nationwide, Henderson services as a board member on the Insured Retirement Institute (IRI), the LIMRA Annuity Executive Advisory Board, Central Ohio Salvation Army, and the BalletMet Board of Trustees.
Nationwide says it will launch an internal and external search for Henderson’s replacement. Henderson will remain on as president of the annuity business until his retirement later this year.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.