Managing directors for Northwestern Mutual Life Insurance Co.'s offices inGreensboro and Winston-Salem, N.C., expect to expand their staffs, the Triad Business Journal reported.
The company's chief investment officer, Ron Joelson,announced plans tocut hundreds of jobs to reduce expenses due to declining income fromfixed-income investments. Those job reductions will impact Northwestern Mutual'scorporate operation, which is based in Milwaukee, according to the report.
Directors for the company's adviser branches in the Triadregion of North Carolina, however, expect to increase their workforces. ScottHenegar, the Greensboro office managing director, expects to add up to 12 advisers,the news publication said. Jay Ward, managing director for the Winston-Salemoffice, likewise said he's anticipating adding moreadvisers, according to the news outlet.