LOS ANGELES SunAmerica Retirement Markets Inc. has promoted Edward L. Wall to the newly created post of senior vice president and national sales manager of its financial institutions division.
Mr. Wall supervises the 15 external wholesalers who sell annuities through banks. He reports to Leslie Hunnicutt, senior vice president and division manager.
Mr. Wall had been a manager responsible for SunAmericas East Coast annuity sales. He started in his new position Feb. 1.
A spokeswoman said the position grew out of SunAmericas bank annuity sales gains. Bank sales, which made up less than 1% of SunAmericas annuity business in 1998, accounted for roughly 10% of that business in 2000. AIG/SunAmerica issued $4.6 billion of variable annuities in 2000.
SunAmerica expects to add another five wholesalers by yearend, she said.
SunAmerica Retirement Markets is a subsidiary of SunAmerica Inc., which was bought by American International Group Inc. of New York in 1999.