Mortgage insurer Genworth Financial Inc. (GNW) has appointed a new chief executive officer.

The appointment arrives seven months after the resignation of former CEO Michael Fraizer.

The Richmond, Va.-based company named Thomas McInerney president and CEO. McInerney will assume his new role and board member duties on Jan. 1.

James Riepe will continue to serve as non-executive chairman of the board going forward.

The mortgage insurer shook up its c-suite last May when it was announced that Michael Fraizer would be resigning. At the time, the board named Martin Klein acting chief executive officer and Riepe was appointed nonexecutive board chairman.

McInerney previously held leadership positions at ING and Aetna Financial Services.  While at ING, McInerney served as chief operating officer and on the management board for insurance.

He also was CEO of ING Americas. McInerney spent 20 years at Aetna Financial Services and served as president of the company before leaving for other opportunities.

“We are very pleased to have someone with Tom McInerney’s breadth of experience and record of achievement step into this role at Genworth,” said Riepe. “With his extensive expertise in insurance and investment management, exposure to the global financial services markets, and proven track record of execution, Tom will provide strong leadership at this important time for the company as we continue towards our goal of rebuilding value for our shareholders and other stakeholders.”


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