Guardian Life Hires Manulife’s Costantini as Finance Chief

Apr 23, 2014 11:13 am ET

(Updates with Manulife spokesman in last paragraph.)

April 23 (Bloomberg) -- Guardian Life Insurance Co. of America, the policyholder-owned firm founded in 1860, hired Marc Costantini as chief financial officer to replace Robert Broatch, who’s retiring.

Costantini, 44, was most recently executive vice president of corporate development and strategy at Manulife Financial Corp., New York-based Guardian said today in a statement. He reports to Chief Executive Officer Deanna Mulligan. Broatch, 65, is retiring on Dec. 31.

Costantini’s “distinguished career in finance and general management will serve our company well,” Mulligan said in the statement.

Guardian had a pretax gain from operations of $1.1 billion last year, and gave almost three-quarters of that sum to policyholders, according to the company’s annual report. The firm offers life insurance and retirement products, and is among the largest U.S. sellers of dental coverage.

Last year, Mulligan hired Caitlin Pincus, formerly of JPMorgan Chase & Co., as senior vice president of strategy, and Dean Del Vecchio from News Corp.’s Dow Jones & Co. as chief information officer. At the time, she said the hires showed “Guardian’s commitment to thinking differently about how we leverage technology to evolve as a company.”

Costantini received a bachelor of science degree in actuarial science from Concordia University in Montreal, Guardian said. He previously held positions including CFO of John Hancock, the U.S. seller of savings products and life insurance that’s now owned by Manulife, and president of Hancock’s annuities business.

Sean Pasternak, a spokesman for Toronto-based Manulife, confirmed that Costantini left the insurer and declined to comment further.