Hartford Life Inc. of Simsbury, Conn., promoted Thomas M. Marra to chief operating officer, a newly created position, and to president of its life insurance subsidiaries.
Mr. Marra, 41, is being groomed to succeed president and chief executive officer Lon A. Smith, a spokesman said. Mr. Smith turned 60 in September.
Mr. Marra was already in charge of the company's investment products and individual life units. In his new jobs, which he assumed Monday, he took charge of employee benefits as well.
First Union executive John C. Walters has been hired to succeed Mr. Marra as director of the investment products unit, overseeing annuities, mutual funds, and group pension plans. Mr. Walters, 38, was president of the financial services group of First Union Securities, the brokerage arm of First Union Corp. in Charlotte, N.C.
- Amy L. Anderson