Former Morgan Stanley (NYSE: MS) wealth management head Ellyn McColgan has joined Primerica’s (NYSE: PRI) board of financial services, the company announced on Thursday.
McColgan has joined Morgan Stanley (NYSE: MS) in April of 2008 after working 17 years at Fidelity Investments. After the January 2009 creation of Morgan Stanley Smith Barney along with Citigroup, Inc (NYSE: C), McColgan stayed with Morgan Stanley.
Primerica, a company which sells life insurance through a network sales force, was spun off from Citigroup, Inc (NYSE: C) in an initial public offering during the month of April.
Primerica, Inc.is a distributor of financial products to middle income households in North America with approximately 100,000 licensed sales representatives. It assists the clients in meeting their needs of term life insurance, mutual funds, variable annuities, and other financial products. The Company operates in three business segments: term life insurance, investment and savings products, and corporate and other distributed products. The Company’s subsidiaries include Primerica Life Insurance Company (Primerica Life), National Benefit Life Insurance Company (NBLIC) and Primerica Life Insurance Company of Canada (Primerica Life Canada).
Shares of PRI traded up at 0.77% hitting $20.97 during mid-day trading on Friday.
