Top Jackson National exec Clifford Jack to step down

Clifford Jack, a longtime executive at Jackson National Life Insurance Co. and the progenitor of its independent broker-dealer network National Planning Holdings Inc., is leaving the company. Mr. Jack, 51, joined Jackson National in 1995 and is currently executive vice president and head of retail for Jackson National. Along with launching NPH, he was key in developing Jackson National variable annuity product line as well as Curian Capital, Jackson National's asset management subsidiary. (More: Jackson National's variable annuities sales suspension pays off) Melissa Hernandez, a Jackson National spokeswoman, said that Mr. Jack was leaving to pursue new opportunities. She did not elaborate. Jim Livingston will replace Mr. Jack as the interim president and chief executive of NPH, Jackson National said in statement. Mr. Livingston has been president of the broker-dealer network in the past. Greg Cicotte will assume the role of head of U.S. wealth management and distribution, a newly created position that will replace the role held by Mr. Jack. He will report to Michael Wells, Jackson National's president and CEO. Mr. Cicotte is president of Jackson National Life Distributors. He will be replaced in that role by Scott Romine. “I personally thank Clifford for his dedication, exceptional leadership and friendship over the past two decades, as well as his many accomplishments and contributions,” Mr. Wells said in the statement.