Independent Financial Marketing Group in Purchase, N.Y., said Tuesday that its chief executive officer, Bob Spadafora, has left the company and would be succeeded on an interim basis by Gary Corsi, a vice president and the chief financial officer of Sun Life Financial (US), the U.S. subsidiary of its Toronto parent company.
Julie DiCarlo, a spokeswoman for IFMG, would not comment on the reason for Mr. Spadafora's departure. Mr. Corsi will be president during the search for a permanent successor to Mr. Spadafora, she said. Mr. Corsi is a member of the third-party marketer's board.
IFMG is No. 1 among third-party marketers in the bank channel, the sixth consecutive year it has gotten that ranking from Kenneth Kehrer Associates, a Princeton, N.J., consulting firm that tracks bank sales of insurance and investment products.
The Sun Life subsidiary had three times the revenue of its nearest competitor last year, according to the Kehrer firm, including $6.1 billion of annuity revenue.
