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May 16, 2007
DAVID TURNER TO LEAD GUARDIAN'S PRIVATE EQUITY INVESTMENT INITIATIVE
Responsible for Growing Guardian's Private Equity Portfolio
NEW YORK, May 16, 2007 — David Turner, a veteran private equity investment manager, has joined The Guardian Life Insurance Company of America (Guardian), as head of its private equity investment initiative. In this new role, Turner will lead Guardian's continued efforts to expand the company's private equity portfolio. Turner comes to Guardian from WestLB Mellon Asset Management, Private Equity Group where he served as general partner and, most recently, chief executive officer and chief investment officer.
"We are very pleased to have David join Guardian to lead our private equity team," said Thomas Sorell, executive vice president and chief investment officer, Guardian. "David's breadth of knowledge and relationships in the investment community will give Guardian a decisive advantage in growing our private equity portfolio. Private equity is an important component of Guardian's long-term asset allocation. As a mutual life insurance company, sound investment strategies and diversification of our portfolio are integral in our efforts to operate in the interests of our policyholders. Gains through strong investment performance and operational efficiencies are passed on to our policyholders in the form of dividends and lower costs for coverage."
Prior to his work with WestLB Mellon Asset Management, Turner spent seventeen years with the State of Michigan Retirement Systems where he served as a Senior Portfolio Manager and then head of the Alternative Investment Division.
About Guardian
Founded in 1860, The Guardian Life Insurance Company of America, New York, NY (Guardian) is one of the largest mutual life insurance companies in the United States. As of December 31, 2006, Guardian and its subsidiaries had $39.5 billion in assets (on a consolidated statutory basis). With more than 5,000 employees and 3,000 financial representatives, as well as more than 80 agencies nationwide, Guardian and its subsidiaries protect individuals, businesses, and their employees with life, disability, health, long-term care, and dental insurance products, and offer 401(k), annuities and other financial products and trust services. More information about Guardian can be obtained at: www.guardianlife.com.
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