Earlier this week, Rod Halvorson, Paul Huntsberger and Michael Cheesman abruptly left annuities provider Symetra. According to rumors, the three key players in the firm’s bank wholesaler unit were let go.

Halvorson, formerly senior vice president and managing director of the financial institutions division at Symetra, spent the past four years leading the firm’s wholesaling efforts to banks and credit unions. His lieutenants Huntsberger, vice president of new business development and Cheesman, vice president and key account manager, left at the same time.

The question of why the three managers were released remains a mystery. Symetra’s official response is cryptic: “While we will continue to seek new partners, much of our future success will revolve around optimizing our relationships with banks—increasing the number of advisors who sell Symetra products within our bank distribution network,” which seems to suggest that while Halvorson sought to grow through new client acquisition, Symetra’s managers favored growing sales through existing bank client.

Halvorson could not be reached at press time.

Taking Halvorson’s place, Pat McCormick, a 25-year Symetra veteran, has expanded his responsibilities to include bank channel management in addition to all sales and distribution for the firm’s life and annuities division.