Lawyer Picked to Run Variable Annuities Group

RESTON, Va. - Mark J. Mackey has been chosen as the first paid president of the National Association of Variable Annuities.

Formerly a partner at the Washington law firm of Routier, Mackey & Johnson, Mr. Mackey said he plans to beef up the educational and regulatory programs at the 210-member association based in Reston, Va.

To support membership increases, he plans to boost the association staff to 12 from eight within a year.

"Services have expanded and membership has grown without growth in our modest staff," Mr. Mackey said.

Voluntary efforts by the membership have filled the gap so far, Mr. Mackey said, but "we've gone as far as we can down that road."

The organization's members include insurance companies, broker-dealers, third-party marketers, and 13 banks.