Cigna Retirement and Investment Services has tapped Michael T. Daley, formerly of Bankers Trust Co., to coordinate strategy and marketing.
The position is a new one and was effective Monday, said a Cigna spokesman. Mr. Daley's hiring reflects Hartford, Conn.-based Cigna's desire to have a "more dedicated focus" in the strategic planning and marketing areas.
Cigna has five business segments, each with its own marketing discipline, said the spokesman. The groups are: defined benefit or pensions; 401(k)s; Cigna Financial Services, its discount broker-dealer; Benefits and Access Inc., which integrates benefits and administration counseling; and institutional pensions.
"What we wanted was to bring a counselor role to all of those segments," said the spokesman. While Mr. Daley will not be directly responsible for those areas, he will "be very much a senior strategist and planner for each of those businesses," the spokesman said.
Mr. Daley also will hold the title managing director and will report directly to Cigna's president Byron D. Oliver.