New leader for Northwestern Mutual advisors amid CEO succession plans

Senior leadership changes were announced at Northwestern Mutual as it prepares for the retirement of Chief Executive John Schlifske.

Tim Gerend, who has been overseeing the firm’s more than 8,000 financial advisors across the country, has been promoted to president in readiness for taking the CEO role and becoming chairman of the board of trustees from January 1, 2025.

As part of the succession plan, John Roberts is promoted from his current role as vice president of field talent and performance to succeed Gerend as executive vice president and chief distribution officer.

"Anyone who has worked with John can attest to his talent, leadership and deep knowledge of our business," Schlifske said. "The impact he has made as a leader for our field to attract and retain top talent while driving measures of success has brought significant positive change in all facets of the field, particularly the growth trajectory and health of our offices across the country."

Roberts has been with Northwestern since 2006, originally as an analyst for Northwestern Mutual Capital, and has held various roles across several departments.

MANDATORY RETIREMENT

Schlifske’s retirement is due to the company’s mandatory retirement age policy. He has been with the firm for 37 years, including 14 as CEO.

He is not the only senior leader to be retiring this year; executive vice president and chief of staff Mike Carter left the company last week after 30 years. Carter held several senior roles and became the firm’s longest serving CFO prior to his year as chief of staff. During his 15 years as CFO, he was faced with the challenge of navigating the Great Recession and the low-interest-rate environment that followed.

"We sincerely thank Mike for his leadership and many contributions to the company over the past 30 years, and wish him the very best in retirement," Schlifske said.