Compulife Inc., a Richmond, Va., company that markets investment products through 60 financial institutions, has appointed Nicholas D. Skaltsounis to the new post of chief operating officer.
Mr. Skaltsounis will continue as president and chief executive officer of Compulife's sister company, Compulife Investor Services, the companies announced.
Compulife is a licensed insurance agency that sell annuities and Insurance products through commercial banks, savings institutions, and credit unions. Compulife Investor Services is a full-service broker-dealer that offers mutual funds, stocks, bonds, and other investments. A spokesman for Compulife said the chief operating officer's post was created because the two companies are in the process of more closely integrating their operations.
The companies serve a wide range of financial institutions, the largest being Marshall & Ilsley Corp., Milwaukee, which had $12.5 billion in assets at midyear. The smallest client has less than $100 million in assets.
In related news, E. Bruce Miller was named senior vice president and national sales manager of Compulife. He joins the company from First Interstate Financial Services, a unit of First Interstate Bancorp, Los Angeles.