After a quarter of a century, Peter Cummins, SVP for investment products sales and marketing at Hartford Life, will retire from the firm. During his career at the Simsbury, Conn.-based firm, Cummins introduced the Director, Hartford's flagship product, as well as two additional top-selling products, Putnam Hartford Capital Manager and Hartford Leaders.
During Cummins' tenure, fixed and variable annuities grew to $10 billion a year. Cummins was also instrumental in the promotion of the firm's own retail fund line within the annuity offerings.
"I have been fortunate to have been a part of building an industry whose main goal is to help people reach their retirement dreams, and to have done so in a company as dedicated to the same goal as mine," Cummins said of his time at Hartford.
Starting in February 2002, the investment products division sales and marketing organization will be led by Bruce Ferris and Ryan Johnson, both vice presidents who will also share the role of director of sales and marketing. Ferris is currently VP of sales and marketing through the financial institution channel. Johnson is VP of sales and marketing through the broker/dealer channel. Both will retain their current responsibilities in addition to their new duties.
Cummins has also had a hand in Hartford's international development, specifically in the recent start-up of the firm's business in Japan. While he will continue to work on the firm's international efforts until his departure, spending much of his time overseas, Hartford will not find somebody to take over those duties once he is gone, said Hartford spokesperson Christina Divigard.
As for Cummins' future plans, he said that he intends to stay active in the industry as a consultant and doing board of director work.
