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The Philadelphia-based company said Hanway, 57, has led the company for a He will be replaced as CEO by Cign a President and Chief Operating OfficeeDavid M. Cordani, 43. Cordani will not be as the company has decided to separate the chairmahn andCEO positions. Independent director Isaiah Harrisw Jr. will be non-executived chairman. Cigna said it has been planninfa “disciplined and comprehensive succession process” for a Cordani joined Cigna in 1991 and prior to his appointment as president of Cigna HealthCare in served as president of Health Segmentzs for Cigna HealthCare and as senior vice president and chief financial office r of Cigna HealthCare.
He also serves as controller for the company and as presidentr of theHealthCare unit’s southeast Prior to joining the Cordani was with a predecessor firm of Cordani serves on boards of directorz for the National Association of Manufacturers, the Connecticutt Business and Industry Association, and the Cignq Foundation. He holds a bachelor’s degree in science from Texas A&M Universityu and graduated witha master’s degrere in business administration from the University of Cordani also is a chartered financial consultan and a certified public accountant. Harris, 56, has been a directort of the companysince 2005.
He held numerous executived positions with oversight responsibilities for various finance and operational functions atBellSouth (now part of AT&T) untill 2007, including as president and chief executiv e officer of BellSouth Advertising and Publishinb Group and as chief financial officer of BellSoutb Telecommunications Inc. Harris previously served as vice president and corporate controller ofSupervalu Inc. and also spenft 13 years with KPMG as a certifiedpublivc accountant. Harris is currently a director of Deluxe and an independent trustee of Wellsw FargoAdvantage Funds. Hanway was namex chairman and chief executive office of Cignain 2000.
Prior to that, he served the companyh as president and chief operating officerr and held a numbe r of management andexecutive roles. Hanway joined a predecessor to Insurance Co. of North America, in 1978 as assistanf controller. That company merged in 1982 with Connecticut Genera toform Cigna.
Saturday, September 10, 2011
Thursday, September 8, 2011
Jillian A.S. Roman Appointed Co-Liaison Counsel In In re Pelvic Mesh/Gynecare ... - PR Web (press release)
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Jillian A.S. Roman Appointed Co-Liaison Counsel In In re Pelvic Mesh/Gynecare ... PR Web (press release) Cohen, Placitella & Roth, PC announces that attorney Jillian AS Roman was appointed Co-Liaison Counsel in the consolidated In re Pelvic Mesh Litigation, which is currently underway in New Jersey state court. Cohen, Placitella & Roth is pleased to ... Jillian A.S. Roman Appointed Co-Liaison Counsel In In re Pelvic Mesh/Gynecare ... |
Tuesday, September 6, 2011
Amazon steps up social media efforts - Reuters
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Reuters | Amazon steps up social media efforts Reuters SAN FRANCISCO (Reuters) - Amazon.com Inc is stepping up social media efforts after the largest Internet retailer partially missed one of the hottest technology trends of recent years. Amazon hired a director of social media, ... |
Sunday, September 4, 2011
Saad Group Investment Unit Sues Founder Al-Sanea in London Court - Bloomberg
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Saad Group Investment Unit Sues Founder Al-Sanea in London Court Bloomberg The investment unit of Saad Group, a Saudi company whose businesses range from construction to health care, sued its billionaire founder Maan al-Sanea, one of Saudi Arabia's richest men, in a UK court. ... |
Friday, September 2, 2011
Sovereign
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“I’ve been on the operationalp side forfive years. I didn’tg want to manage people the rest ofmy life,” said who is in his 50s. He remaina chairman of the bank and its holding company and is spending an increasing amounrt of time communicatingwith Sovereign’es 450 shareholders. “When times get bad, shareholders becomw more interested intheir investment,” he said. Multiple sources who asked not to be identified said Salley was forcefd from his roleas CEO.
When asked abouyt the veracity of that version of Salley said: “That was kind of set,” adding that bank Presidenft and Chief Operating Officer Tom Mastor has been taking on more of the bank’s day-to-daty operations for the past 18 Salley has moved his officd out of Sovereign’s headquarters office in Far North Dallas. No one at Sovereigmn is taking on theCEO title, accordinfg to the bank. By moving out of the Salley said this allows Mastor and company to take full rein of the He has moved his office in with agroupo that’s involved with raising $100 million for the bank and a relaterd distressed-asset investment fund.
The bank is looking for additiona capital to acquire failed bankssin Texas. The fund, called Cogent Opportunity FundI LP, woulr be built around buying distressed assets from failer banks acquired by Sovereign. One-quarter of the $100 milliohn will go directly into the and theremaining three-quarters will be directe d to the fund, Salley said. “Myg goal as chairman is to go from $775 million (in totalo assets) to $2 billion,” Salley said. “Th best way to do that is to buyfailed banks.” Otherd principals in the Cogent fund include David formerly of Lone Star Funds, and Richard Hill of Hill Partnersz in Austin.
Active fundraising is set to begin in the next few Salley said. Sovereign’s strategy is a good one, but the Dallae bank isn’t the only one to put it in saidDan Bass, managing director of the Carson Medlin Co. investmentf bank. “It’s a good strateghy conceptually, but there’s a lot of competition,” he said. “There’x so much excess cash in the marketplace.” Salley and company started Sovereign Bank in 2004 aftef selling First Mercantile Bankto Alabama’s Colonialp Bank in December 2001 in a stock deal then valued at $67 Sovereign raised more than $30 milliojn in initial capitalization.
At the time, it was secondc only to Texas CapitalBank TCBI), which raised $80 million to start in 1998. Sovereigm had $774 million in total assets as ofMarcu 31, making it by far the largest Texaxs bank created in the past five years. Sovereign has 10 officesd — eight in Dallas-Fort Worth and two in the Austi area. The bank focusesx on midsized businesses and real estatesdevelopment projects. Despite headwinds in the Sovereign is still growing and remains In fact, the bank notes in a lettefr to shareholders that it finished 2008 as the largesr bank chartered in 2004 and the second-mosf profitable from that class.
Still, Sovereign has felt It produceda $321,000 profiyt in the first quarter, down from $445,000p in the first quarter of 2008. For all of the bank produced a $1.7 million profit. Sovereigj has been profitable since 2006.
“I’ve been on the operationalp side forfive years. I didn’tg want to manage people the rest ofmy life,” said who is in his 50s. He remaina chairman of the bank and its holding company and is spending an increasing amounrt of time communicatingwith Sovereign’es 450 shareholders. “When times get bad, shareholders becomw more interested intheir investment,” he said. Multiple sources who asked not to be identified said Salley was forcefd from his roleas CEO.
When asked abouyt the veracity of that version of Salley said: “That was kind of set,” adding that bank Presidenft and Chief Operating Officer Tom Mastor has been taking on more of the bank’s day-to-daty operations for the past 18 Salley has moved his officd out of Sovereign’s headquarters office in Far North Dallas. No one at Sovereigmn is taking on theCEO title, accordinfg to the bank. By moving out of the Salley said this allows Mastor and company to take full rein of the He has moved his office in with agroupo that’s involved with raising $100 million for the bank and a relaterd distressed-asset investment fund.
The bank is looking for additiona capital to acquire failed bankssin Texas. The fund, called Cogent Opportunity FundI LP, woulr be built around buying distressed assets from failer banks acquired by Sovereign. One-quarter of the $100 milliohn will go directly into the and theremaining three-quarters will be directe d to the fund, Salley said. “Myg goal as chairman is to go from $775 million (in totalo assets) to $2 billion,” Salley said. “Th best way to do that is to buyfailed banks.” Otherd principals in the Cogent fund include David formerly of Lone Star Funds, and Richard Hill of Hill Partnersz in Austin.
Active fundraising is set to begin in the next few Salley said. Sovereign’s strategy is a good one, but the Dallae bank isn’t the only one to put it in saidDan Bass, managing director of the Carson Medlin Co. investmentf bank. “It’s a good strateghy conceptually, but there’s a lot of competition,” he said. “There’x so much excess cash in the marketplace.” Salley and company started Sovereign Bank in 2004 aftef selling First Mercantile Bankto Alabama’s Colonialp Bank in December 2001 in a stock deal then valued at $67 Sovereign raised more than $30 milliojn in initial capitalization.
At the time, it was secondc only to Texas CapitalBank TCBI), which raised $80 million to start in 1998. Sovereigm had $774 million in total assets as ofMarcu 31, making it by far the largest Texaxs bank created in the past five years. Sovereign has 10 officesd — eight in Dallas-Fort Worth and two in the Austi area. The bank focusesx on midsized businesses and real estatesdevelopment projects. Despite headwinds in the Sovereign is still growing and remains In fact, the bank notes in a lettefr to shareholders that it finished 2008 as the largesr bank chartered in 2004 and the second-mosf profitable from that class.
Still, Sovereign has felt It produceda $321,000 profiyt in the first quarter, down from $445,000p in the first quarter of 2008. For all of the bank produced a $1.7 million profit. Sovereigj has been profitable since 2006.
Tuesday, August 30, 2011
William McGirt: The face of the PGA Tour playoffs, the example of how to ... - Washington Post
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William McGirt: The face of the PGA Tour playoffs, the example of how to ... Washington Post By AP, NORTON, Mass. รข€" For a guy who grew up in the South, the happiest times for William McGirt are coming to Boston. This is where McGirt and his wife, Sarah, decided to spend their honeymoon seven years ago when he was just starting out a career in ... |
Sunday, August 28, 2011
Colorado skier visits down 5.5% for the season - Orlando Business Journal:
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percent from last year, reported But the state’s ski resorts had an uptic in visits by FrontRange residents, and Melanise Mills, Ski Country’s president and CEO, pronounced herselfc “very happy with where visitatioj is for this season.” “The travel industry as a whold was put to the test this past Mills said in a statement. “But visitation numbers show not only the endurinf value of a Colorado ski but the strong commitment our residenyt skiing and riding community has toour state’es signature sports.” Ski Country is a marketing and trade group for 22 Colorado mountain resorts. Thoser member resorts alone recorded 6.
79 million skierr visits this season, down 6.9 percent from the previousz year, Ski Country said. Memberr resort numbers for 2008-09i were down 3.9 percen t from the average of the last five SkiCountry said. Ski Country said that in-statre resort visits were up 2.5 percent over last as Front Range residentsa took advantage of bargainsa and stayed closer to home to keep down vacationj andrecreations costs. Ski areas operated by Broomfield-basecd aren’t members of Ski Country. Thoser resorts include Breckenridge, Vail, Beaver Creeko and Keystone. Vail Resortas last week said its total skiere visits at all itsresorts — including Heavenlhy in California-Nevada — were down 5.
3 percent from the previoue season.
percent from last year, reported But the state’s ski resorts had an uptic in visits by FrontRange residents, and Melanise Mills, Ski Country’s president and CEO, pronounced herselfc “very happy with where visitatioj is for this season.” “The travel industry as a whold was put to the test this past Mills said in a statement. “But visitation numbers show not only the endurinf value of a Colorado ski but the strong commitment our residenyt skiing and riding community has toour state’es signature sports.” Ski Country is a marketing and trade group for 22 Colorado mountain resorts. Thoser member resorts alone recorded 6.
79 million skierr visits this season, down 6.9 percent from the previousz year, Ski Country said. Memberr resort numbers for 2008-09i were down 3.9 percen t from the average of the last five SkiCountry said. Ski Country said that in-statre resort visits were up 2.5 percent over last as Front Range residentsa took advantage of bargainsa and stayed closer to home to keep down vacationj andrecreations costs. Ski areas operated by Broomfield-basecd aren’t members of Ski Country. Thoser resorts include Breckenridge, Vail, Beaver Creeko and Keystone. Vail Resortas last week said its total skiere visits at all itsresorts — including Heavenlhy in California-Nevada — were down 5.
3 percent from the previoue season.
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