AXA has announced the promotion of Josh Braverman, Chief Investment Officer (CIO) and Treasurer to head its Legacy Book Business, and the promotion of Steven M. Joenk to CIO.
Braverman joined AXA in 2009 to lead its Derivatives & Hedging teams, which included the development and implementation of the company’s derivatives and hedging strategies. Three years after joining the firm Braverman was appointed AXA’s Treasurer, and was named CIO in 2015.
His new role will see him strategically manage AXA’s Legacy Life and Annuity books, while continuing to serve as President and Chief Executive Officer (CEO) of AXA Corporate Solutions Life Reinsurance.
Prior to AXA Braverman held positions at AEGON N.V, the U.S. Treasury Department, Deutsche Bank, and Goldman Sachs.
Braverman will report to AXA US Chairman and CEO Mark Pearson, who said; “With his extensive experience in shaping the company’s key strategies, years of solid leadership and knowledge of the business, I am confident Josh has the qualities to build and lead our new Legacy Book Business.”
Steven M. Joenk will replace Braverman as CIO, and will report to AXA US Chief Financial Officer (CFO), Anders Malmstrom. AXA reveals that Joenk will remain Chairman of the Board, CEO and President of AXA Equitable Funds Management Group, LLC. For FMG-related activities, Joenk will report to Head of US Life, Retirement and Wealth Management, Brian Winikoff.
Joenk’s position as CIO means he will oversee AXA’s general account investments, where the assets are used to pay benefits to clients. He joined the firm in 1999 as a senior vice president, and previously held positions at MeesPierson, Inc., Gabelli Funds., Inc., Mitchell Hutchins Asset Management, and PepsiCo.
“With his deep knowledge of the markets and his experience, it’s only natural that we’d want Steve as our CIO,” said Pearson.