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December 13, 2002
The Guardian Life Insurance Company Of America Announces Executive Management Changes
The Board of Directors of The Guardian Life Insurance Company of America announced the following promotions and executive management changes effective January 1, 2003.
Gary B. Lenderink, Executive Vice President will oversee all Risk Management Products. He will have oversight responsibility for Guardian's Individual Life Insurance, Disability Insurance (Berkshire Life), Group Insurance, Group Pensions and Corporate Marketing. Lenderink began his career with Guardian in 1977 as a Group Sales Representative in Denver. In 1992, he joined the home office as Vice President, Group Sales and Marketing. He currently serves on LIMRA's Board of Directors.
Thomas G. Sorell, CFA was promoted to Executive Vice President and Chief Investment Officer and has been elected President of The Park Avenue Portfolio® family of mutual funds. His responsibilities include: shaping Guardian's investment policies; overseeing the management of Guardian's bond, stock and real estate portfolios in Guardian's general accounts; and overseeing the management of the mutual funds and underlying investment options in Guardian's variable annuities and variable life insurance contracts offered through Guardian's subsidiaries. Previously he was Senior Managing Director and Head of Guardian's Fixed Income Department. Sorell joined Guardian in 1994 and has 22 years of experience in the securities industry. He is succeeding Frank J. Jones, PhD who will retire from Guardian on December 31, 2002.
Bruce C. Long, CLU, Executive Vice President has assumed responsibility for Park Avenue Securities LLC and Guardian Trust Company FSB. This is in addition to responsibility of sales, marketing, product development and administration of the variable annuities and mutual funds offered through Guardian's subsidiaries. Long also serves as President of Guardian Investor Services LLC and Executive Vice President of The Guardian Insurance & Annuity Company, Inc. Prior to joining Guardian in 1999, he was President of New England Annuities (a unit of New England Financial). He currently serves a member of the NASD's committee of Variable Insurance Products.
Dennis S. Callahan, Chief Information Officer, was promoted to Executive Vice President assuming responsibility for Building Services. This is in addition to his responsibility for Information Technology, E-Business and Business Process Outsourcing. Before joining Guardian in Oct 2000, he was Chief Information Officer for the Financial Services Division of American International Group (AIG) in New York. Callahan currently serves as Chairman for the 2002/2003 Financial Services CIO Forum.
About Guardian and Its Subsidiaries
The Guardian Insurance & Annuity Company, Inc., Guardian Investor Services LLC and Park Avenue Securities LLC are wholly owned subsidiaries of The Guardian Life Insurance Company of America, New York, NY (Guardian), the fourth largest mutual life insurance company in the United States. As of December 31, 2001, Guardian and its subsidiaries had $34.3 billion in assets. Founded in 1860, Guardian is listed among Fortune magazine's top 500 businesses—and in 2002 was ranked once again as one of the top 10 most admired life and health companies in Fortune's "America's Most Admired Companies" list. With 5,500 employees, over 2,700 financial representatives and 100 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses and their employees with life, disability, health and dental insurance products as well as offering mutual funds, annuity investment products, and trust services. More information on Guardian can be obtained at: www.guardianlife.com.
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