Jo Ann Tizzano
212-314-2979
joann.m.tizzano@axa-equitable.com
New York, NY - June 27, 2007 - Effective July 1, 2007, Andrew McMahon, Executive Vice President of AXA Equitable Life Insurance Company, will become Chairman of AXA Advisors, LLC, the company's retail distribution channel and broker/dealer. He will succeed Robert S. Jones, ChFC, CLU, who will retire from the company on June 30 after a successful 41-year career. Most recently, Mr. McMahon held the position of Chief Operating Officer of Retail Distribution. He will continue to serve as a member of the company's Executive Management Committee. The announcement was made by Christopher M. "Kip" Condron, Chairman and Chief Executive Officer of AXA Equitable, to whom Mr. McMahon continues to report.
Mr. McMahon will have overall responsibility for the management of the company's retail distribution channel, including approximately 6,000 financial professionals and 60 branch offices nationwide and in Puerto Rico. In his role as Chairman, he will continue to drive strategy for profitable growth across retail distribution, focusing on management development, recruiting, retention, and development of new and experienced financial professionals, and veteran productivity.
In making the announcement, Mr. Condron said, "Andrew has made significant contributions in strengthening the efficiency and effectiveness of our retail distribution organization since joining the company in 2005. He is the natural successor to continue to build on the foundation he and Bob Jones created to drive profitable growth across retail, to enhance our value proposition for new and existing financial professionals, and to further align our business processes in pursuit of the company's long term goals."
Mr. McMahon joined AXA Equitable in April 2005 as Senior Vice President to launch the company's Strategic Initiatives Group. In that role he was responsible for the development and implementation of strategies to increase revenue growth in the company's retail and wholesale distribution channels. He was promoted to Executive Vice President and elected to the company's Executive Management Committee in September 2005.
Prior to joining AXA Equitable, Mr. McMahon was a principal with McKinsey & Co., serving as a Life Insurance Practice Leader in North America, focusing on distribution and strategy for the retail and third-party distribution operations of many insurance clients. Earlier, he held a series of management positions in several business divisions of General Electric.
Mr. McMahon earned a BS from Fairfield University and an MBA from Columbia Business School.
About AXA Equitable
AXA Equitable Life Insurance Company, New York, N.Y., is one of the premier U.S. organizations providing life insurance and annuity products and services for the financial services market, co-distributed by AXA Advisors, LLC, and AXA Distributors, LLC.
AXA Equitable's parent company, AXA Financial, Inc., is a member of the global AXA Group, a worldwide leader in financial protection and wealth management. AXA Group's operations are diverse geographically, with major operations in Western Europe, North America, and the Asia/Pacific region. The AXA ordinary share is listed on the Paris Stock Exchange and trades under the symbol AXA. The AXA American Depositary Share is also listed on the NYSE under the ticker symbol AXA.
AXA Equitable is a sponsor of the Variable Annuities Knowledge Center(www.variableannuityfacts.org), an online resource aimed at helping consumers understand the facts surrounding variable annuities. The Variable Annuities Knowledge Center is operated by a standalone non-profit organization and is overseen by an independent advisory board.
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