Lincoln Financial Appoints Matthew Grove as Head of Individual Life Insurance and Annuities and Lincoln Financial Network

RADNOR, Pa.–(BUSINESS WIRE)–Lincoln Financial Group (NYSE: LNC) is pleased to announce that Matthew Grove will join the company in July as Executive Vice President, responsible for Individual Life Insurance and Annuities and Lincoln Financial Network. Grove will serve on Lincoln’s executive committee and will report to Lincoln CEO-elect Ellen Cooper, who will assume the role of CEO after the company’s annual meeting of shareholders in May.

In this newly created role, Grove will be responsible for executive leadership of these areas, consistent with Lincoln’s strategic business direction. For the individual life insurance and annuity businesses, this includes overseeing the ongoing design and manufacturing of Lincoln’s individual products, optimizing in-force management and ensuring first-class service. Bringing these companies together provides Lincoln with the opportunity to leverage its capabilities more, share best practices and enable greater innovation.

Grove will also oversee Lincoln Financial Network, the company’s retail brokerage network of independent financial professionals, where he will be responsible for growing Lincoln’s advisor channels and expanding its managed account business. David Berkowitz, senior vice president and president of LFN, will report to Grove.

“We are thrilled that Matt has decided to join Lincoln,” Cooper said. “He brings broad and deep experience in all aspects of life insurance, annuities and wealth management. His expertise will add tremendous value to these areas of our business and be a benefit to the business, our customers and our shareholders.”

Randy Freitag will continue in his pivotal role as Executive Vice President and Chief Financial Officer, reporting to Cooper, with a focus on maintaining and building Lincoln’s financial strength and managing key relationships with the investment community and agencies rating.

Grove has 25 years of financial services experience, including leading life insurance, annuity and wealth management businesses, and overseeing functions such as operations, product management, underwriting, distribution, marketing and technology. He comes from Resolution Life USA, where he was President and CEO. Prior to Resolution Life, Matt worked for New York Life for 11 years, most recently as Co-Chief Operating Officer and Executive Vice President, as a member of the company’s Executive Committee. Matt is a graduate of the University of Pennsylvania and earned his MBA from Columbia University.

About Lincoln Financial Group:

Lincoln Financial Group provides advice and solutions that help people take charge of their financial lives with confidence and optimism. Today, more than 17 million customers trust our expertise in retirement, insurance and wealth protection to help them achieve their lifestyle, savings and income goals, and protect against long-term care expenses. Based in Radnor, Pennsylvania, Lincoln Financial Group is the trading name of Lincoln National Corporation (NYSE: LNC) and its subsidiaries. The company had $324 billion in account value at the end of the period on December 31, 2021. Lincoln Financial Group is a committed corporate citizen that is listed in major sustainability indices, including the Dow Jones Sustainability Index North America and FTSE4Good, and ranks among Newsweek’s Most Responsible Companies. . Dedicated to diversity, equity and inclusion, we are listed on transparency benchmarking tools such as the Corporate Equality Index, Disability Equality Index and the Bloomberg Gender Equality Index. Committed to providing our employees with flexible working arrangements, we have been named to the FlexJobs list of Top 100 Companies to Watch for Remote Jobs in 2022. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn and Instagram. Sign up for email alerts at http://newsroom.lfg.com.

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