The Penn Mutual Life Insurance Company has promoted David O'Malley to president and chief operating officer, effective January 1, 2016.
Over the last 21 years, the company noted, Mr. O'Malley – who started his career as a Drexel University co-op student in the company's investment department – has shown dedication, has delivered successful results, and has been instrumental in the firm's growth.
Upon graduation from Drexel in 1994, Mr. O'Malley took on a full-time role at Penn Mutual where, over the next few years, he was responsible for overseeing fixed income portfolios and managing various sectors of the bond portfolio. His first major appointment came in 2006, when he was named chief risk officer. His rise continued just a year later, when he was promoted to senior vice president, overseeing the development of the firm's life insurance and annuity product portfolio. In 2013, he took on the responsibility of chief operating officer.
“Dave has been integral to our success, and is one of the reasons for my optimism about our company's future,” said Eileen McDonnell, the chairman and chief executive officer of Penn Mutual. “His inspiring ascent from intern to president and COO is telling of his hard work and dedication to our company and what we stand for. We are thrilled to welcome him as Penn Mutual's 19th president, and I look forward to our continued partnership in growing Penn Mutual.”
“Looking back since the start of my career, the meaningful relationships that I have formed, the mentors that have helped to push me along, and the culture at Penn Mutual have been significant factors in my development,” said Mr. O'Malley. “To me, it's all about the people. Working with talented professionals has helped shape my drive and encouraged me to excel. Looking forward, I am excited to take on this new role and to lead our home office and field partners to be the best company we can be for our policyholders.”
Learn more: http://www.pennmutual.com/.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].