The head of Aetna Life and Casualty Co.'s bank distribution business has resigned.
Robert K. O'Mara said this week that he resigned in the middle of last week because Aetna is moving the business to Hartford, Conn., from Tampa, where he and his family live.
"I elected not to move and to leave Aetna," he said. "This is all very amicable." Mr. O'Mara, who had been national sales manager for financial institutions at Aetna Retirement Services since July 1996, said he is "actively looking at other opportunities."
Aetna's decision to consolidate the business at its Hartford headquarters is part of an effort that includes adding more banks to its distribution network and selling more products through banks.
Aetna sold almost $400 million of annuities through banks last year; it sells directly through 45 institutions and reaches another 200 through third-party marketers.