Desired to increase reserves under management as clients rotated away from general account products. The 401k market stayed unreceptive to traditional guaranteed products to support stable value.
Developed a funding agreement note issuance platform to access different markets. This restructured funding agreements into 144A securities through a bankruptcy remote business trust. Drove the team to implement the new program across the enterprise.
The program produced $14.8 billion of issuance during 13 years generating in excess of $300 million of operating income.