Newport Appoints Chaffee to Lead Bank and Financial Institution Services

 

 

 

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Newport Appoints Chaffee to Lead Bank and Financial Institution Services

The Newport Group, a national provider of retirement and executive benefit plans, today announced the appointment of Neil Chaffee as Vice President. In this newly created position, Mr. Chaffee will lead the marketing and business development of the firm’s financial institution services area, including the marketing of bank-owned life insurance (BOLI) and corporate-owned life insurance (iCOLI).

“Neil will sharpen our competitive position in this important marketplace by increasing brand awareness, market penetration and revenue growth,” said Newport Chief Operating Officer Bryant Kirk. “He will facilitate the ongoing development of our BOLI and iCOLI strategic positioning, product strategy and service model.

Mr. Chaffee is a very well-known and respected figure in the industry, with 27 years of experience in insurance and financial services, and an extensive background in BOLI product delivery and non-qualified executive benefit plans.

Kirk noted that “Neil will also play an important role in expanding Newport’s distribution through national strategic alliances, by building on our existing relationships and establishing new ones. He’ll personally support client development initiatives and the cross sales and marketing of Newport’s suite of products and services to the financial institution and insurance company markets.”

Most recently, Mr. Chaffee served as managing director of institutional markets with Hartford Life Private Placement in New Jersey. In that role, he was responsible for overseeing the development and distribution of institutionally priced life insurance and annuity products in a variety of corporate and trust-owned markets. He has also worked for the Hartford subsidiary International Corporate Marketing Group, as well as Phoenix Home Life.

Neil earned his bachelor’s degree in sociology from the University of Massachusetts Amherst and his MBA in Finance from Bryant University in Smithfield, RI. He is a member of the Association of Advance Life Underwriters (AALU) and holds FINRA Series 6, 26, and 63 securities registrations and insurance licenses in 50 jurisdictions.

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