WASHINGTON, July 15 /EMWPresswire/ -- AARP announced the appointment of Richard (Mac) Hisey as the new President of both AARP Financial Inc. and AARP Funds. AARP Financial -- a wholly-owned taxable subsidiary of AARP Services Inc. based in Tewksbury, Massachusetts -- is dedicated to helping people build a more secure financial future by making available products and services that are designed to meet their retirement needs. It makes available a carefully chosen array of investment, banking and insurance products including a portfolio of mutual funds that follow an index-based approach to investing. "Mac's new role will help us continue our efforts to ensure that more of our aging population is saving for retirement and creating income for their retirement years," said AARP CEO Bill Novelli. "Mac has spent his career in financial services and knows first hand the issues people face as they approach retirement. With his leadership, we will make great strides in successfully creating change in the financial industry to ensure that we make investing, financing and insuring the lives of the general population less complex and more accessible," added Novelli. Regarding his new position Mr. Hisey said, "I am excited for the opportunity to deliver a positive impact on the AARP vision of improving financial security and literacy in America. With the cost of living, healthcare and energy costs continuing to rise, AARP Financial's role is even more important in helping people prepare for retirement." Prior to his new role, Mr. Hisey served as Chief Investment Officer of AARP Financial and Treasurer for AARP Funds since 2006. Mr. Hisey joined AARP Financial from Cole Management Incorporated, a venture capital firm focused on early-stage investments in Russia, where he served as Executive Vice President and Chief Investment Officer. Previously, he was the Treasurer and Chief Financial Officer of the MFS Group of Mutual Funds. Prior to that, Mr. Hisey was Senior Vice President of The Bank of New York, with responsibility for global investment fund accounting and administration. Mr. Hisey spent 15 years at Lexington Global Asset Managers, Inc. (now part of ING/Reliastar). There, he served as Executive Vice President and Chief Financial Officer of the publicly-listed holding company as well as its advisor and broker-dealer subsidiaries. He also served as the Chief Financial Officer and Treasurer of all the mutual funds advised by the company and was a member of the Board of Directors of the funds. During his tenure, he created the first open-ended Russian equity mutual fund in the United States and served as the fund's portfolio manager and investment strategist. Mr. Hisey also managed the Corporate Leaders Trust Fund, a passively managed grantor trust investing in stocks of leading U.S. companies. Holding the Chartered Financial Analyst designation, Mr. Hisey is a member of the CFA Institute and the Boston Society of Security Analysts. He received both an MBA and a B.A. with Distinction in Soviet and East European Studies from the University of Connecticut. As an undergraduate student, he also attended Middlebury College and Leningrad State University in the former USSR.
About AARP: AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 33 million readers; AARP Bulletin, the go-to news source for AARP's 39 million members and Americans 50+; AARP Segunda Juventud, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. About AARP Services Inc. AARP Services Inc., founded in 1999, is a wholly owned subsidiary of AARP. AARP Services manages the wide range of products and services that are offered as benefits to AARP's 39+ million members. The offers span health products, travel and leisure products, and life event services. Specific products include Medicare supplemental insurance; member discounts on rental cars, cruises, vacation packages and lodging; special offers on technology and gifts; pharmacy services; legal services; and long-term care insurance. AARP Services founded AARP Financial Incorporated, a subsidiary that manages financial products that carry the AARP name, including AARP Funds. AARP Services develops new products, manages and markets products and services, and creates and maintains sponsorship and other relationships. About AARP Financial Inc. Founded in 2005, AARP Financial Inc. is a wholly owned taxable subsidiary of AARP Services. AARP Financial is dedicated to helping people age 50 and over prepare for a more secure financial future by offering products and services designed to meet their retirement needs and supporting them with clear information and guidance. We are proud that AARP Financial won the Mutual Fund Education Alliance's 2006 STAR Award for Best Investor Fulfillment/Prospectus Kit and Best Retail Retirement Kit by a small company. Visit us at http://www.aarpfinancial.com for more information. AARP Financial makes available a carefully chosen array of investment products and guidance, including mutual funds from AARP Financial, that are designed to meet the needs of investors at any life stage; auto and home insurance through The Hartford; credit cards through Chase; online savings and checking accounts and certificates of deposit through the AARP Financial Savings Center powered by Waterfield Financial Services, Inc.; life insurance and lifetime income annuities through New York Life; and mobile home and motorcycle insurance through Foremost. Please visit us at http://www.aarpfinancial.com for more information.
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