Minneapolis (Jan. 27, 2004) -- American Express Financial Advisors Inc. has named Mark Schwarzmann to the newly created position of senior vice president of insurance and annuities.

In his role as head of insurance and annuities, Schwarzmann will assume responsibility for driving new sales of life, health and annuity products and for pursuing other expansion opportunities. He will report to Jim Cracchiolo, chief executive of American Express Financial Advisors.

Schwarzmann joins AEFA from Allfinanz, a software company that produces processing and automation software for the insurance industry, where he served as CEO. Prior to joining Allfinanz in 2000, Schwarzmann served as senior vice president of wealth management services at GE Financial Assurance, where he was responsible for developing the market strategy for variable life products, trust products and long-term health care insurance business products.

-- WebCPA staff

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