Equitable Holdings Announces New Leadership Appointments
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Insights
The appointment of Julia Zhang as Chief Risk Officer (CRO) at Equitable Holdings signifies a strategic move that may reassure investors about the company's commitment to robust risk management, a key aspect for financial services firms. Zhang's promotion from Treasurer to CRO reflects a continuity of internal expertise, which is often viewed positively as it suggests stability and a deep understanding of the company's risk profile. Her previous role in capital and liquidity management, as well as her involvement in the company's hedging and corporate debt programs, indicates a comprehensive grasp of the financial strategies that underpin Equitable Holdings' operations.
With Equitable Holdings' share price potentially being sensitive to changes in leadership, especially in positions as crucial as the CRO, Zhang's track record could instill confidence among shareholders. Moreover, her efforts in establishing the FABN program highlight an innovative approach to financing that aligns with current trends in sustainable investment, which could appeal to socially conscious investors and possibly impact the stock positively.
Equitable Holdings' strategic realignment with Aaron Sarfatti taking on the role of Chief Strategy Officer and Head of Institutional Businesses and New Ventures can be interpreted as a forward-looking initiative aimed at revenue diversification. Sarfatti's new role encompasses P&L responsibility for institutional growth markets, which could be pivotal in the company's future performance. The mention of the in-plan guarantee market as a growth area is particularly noteworthy, as it suggests a focus on innovative retirement solutions that may address market demands for financial security.
From a market perspective, Sarfatti's previous experience and his role in the Federal Reserve Board's Insurance Policy Advisory Committee underscore his expertise and could be seen as a strategic advantage for Equitable Holdings in navigating regulatory landscapes and identifying growth opportunities. This could potentially lead to the development of new products and services that cater to untapped markets, thereby creating shareholder value.
Julia Zhang named Chief Risk Officer
Chief Strategy Officer, Aaron Sarfatti, to lead institutional businesses and new ventures
Julia Zhang has been named the company’s Chief Risk Officer, effective April 1, pending approval from the Equitable Holdings Board of Directors. Zhang will report to Mark Pearson, President and Chief Executive Officer of Equitable Holdings, and join the company’s Management Committee. Zhang succeeds Aaron Sarfatti, who served as the company’s Chief Risk Officer since 2018.
“After an extensive search, there is no one better positioned than Julia to lead our enterprise risk management function and build upon our strong framework as we deliver on our growth strategy,” said Mark Pearson. "For nearly two decades, Julia has demonstrated impeccable judgment, courage and vision, amidst many market cycles and significant milestones including our IPO in 2018. She is the right leader to guide us into the future, protecting our balance sheet while we drive growth.”
Currently, Zhang is Treasurer for Equitable Holdings, where she oversees the company’s capital and liquidity management, dividend and funding strategy, and banking and rating agency relationships. She also serves as a director and Chief Financial Officer for multiple Equitable Holdings subsidiaries and is a member of the company’s Capital and Liquidity, Hedging and Investment and Risk steering committees. Amongst her many accomplishments are helping to establish Equitable Holdings’ capital management strategy, hedging and corporate debt programs, and pioneering Equitable’s funding agreement-backed note (FABN) program, which, in part, supports sustainable financing while generating positive returns.
Zhang began her career at Equitable in 2007 on the company’s derivatives and hedging team. She earned a Bachelor of Science degree in Statistics and Finance from the University of Science and Technology of
Aaron Sarfatti will continue to serve on the Equitable Holdings Management Committee as its Chief Strategy Officer. In addition, he has assumed expanded responsibility as the company’s Head of Institutional Businesses and New Ventures. In this capacity, Sarfatti is charged with identifying and incubating new sources of revenue. This new role also includes P&L responsibility for the company’s institutional growth markets, including the emerging in-plan guarantee market, a compelling growth area for Equitable.
Pearson added, “In his new and expanded position, Aaron brings the deep industry expertise and strategic vision that we need to continue to innovate and capitalize on the significant opportunity ahead for our businesses. I would also like to thank Aaron for his many contributions to our risk function and the enterprise over the last six years. His sound judgment and leadership helped Equitable navigate times of volatility and uncertainty.”
Prior to his role as Equitable Holdings Chief Risk Officer, Sarfatti served as Head of Strategy for the company’s Retirement and Wealth Management businesses. He has more than 20 years of experience working in financial services, life insurance and asset management. Sarfatti started his career as a management consultant at Oliver Wyman, where he was a partner in its North American Insurance Practice and co-head of the firm’s
He received a Bachelor of Science in Engineering degree in Computer Science from
About Equitable Holdings
Equitable Holdings, Inc. (NYSE: EQH) is a financial services holding company comprised of two complementary and well-established principal franchises, Equitable and AllianceBernstein. Founded in 1859, Equitable provides advice, protection and retirement strategies to individuals, families and small businesses. AllianceBernstein is a global investment management firm that offers high-quality research and diversified investment services to institutional investors, individuals and private wealth clients in major world markets. Equitable Holdings has approximately 12,000 employees and financial professionals,
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Investor Relations
Erik Bass
(212) 314-2476
IR@equitable.com
Media Relations
Sophia Kim
(212) 314-2010
mediarelations@equitable.com
Source: EQH Investor Relations
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