Metropolitan Life Plans a Reshuffling at the Top

Metropolitan Life Insurance Co., the nation’s No. 2 life insurer, said Harry P. Kamen will replace Robert G. Schwartz as chief executive and chairman April 1. Details of the reorganization of MetLife’s executive suite are contained in a “final draft” of a press release obtained by Bloomberg Business News.

MetLife executives weren’t immediately available for comment.

The New York firm, with $144 billion of assets under management, named Kamen to succeed Schwartz, who is 64 and retiring after 44 years at MetLife, a mutual insurance company.

Kamen, 59, was also elected to the company’s board of directors effective Oct. 1, the press release said.

Ted Athanassiades, senior executive vice president, will be named president and chief operating officer, the release said. He is to join the board Jan. 1, 1993.

In addition, Stewart G. Nagler, senior executive vice president, will become chief financial officer April 1, 1993, the release said. He succeeds Philip Briggs, vice chairman and CFO, who’s also retiring after 44 years at MetLife.

Gerald Clark, executive vice president, will take responsibility for MetLife’s investment activities, the release said. Robert E. Chappell Jr. is retiring as senior vice president.

Kamen has been responsible for operations such as legal, human resources, information systems, external relations and company property management, the release said. He’s also CEO of State Street Financial Services and a director of various MetLife units. He joined MetLife in 1959.

Athanassiades, 53, has been in charge of pensions, corporate planning, corporate quality and strategic research, the release said. He’s also a director for MetLife operations. Athanassiades joined MetLife in 1961.