March 23, 2017
NEW YORK – AXA, a leading financial protection company, announced today that two key executives will assume new responsibilities that will help maintain the company’s strong momentum. Chief Investment Officer and Treasurer Josh Braverman has been promoted to head AXA’s Legacy Book Business, reporting to AXA US Chairman and CEO Mark Pearson. AXA also promoted Steven M. Joenk to the position of Chief Investment Officer (CIO), reporting to AXA US Chief Financial Officer Anders Malmstrom.
“With his extensive experience in shaping the company’s key strategies, years of solid leadership and knowledge of the business, I am confident Josh has the qualities to build and lead our new Legacy Book Business,” said Pearson, who went on to say of Joenk, “With his deep knowledge of the markets and his experience, it’s only natural that we’d want Steve as our CIO.”
In his new role, Braverman will strategically manage AXA’s Legacy Life and Annuity books of business.
As CIO, Joenk will oversee the investment of AXA’s general account, the assets of which are used to pay benefits to clients. He remains Chairman of the Board, CEO and President of AXA Equitable Funds Management Group, LLC (FMG), which (as of 12/2016) manages more than $100 billion in assets for AXA’s insurance separate accounts and 1290 Funds retail mutual fund family. Joenk will continue to report to Head of US Life, Retirement and Wealth Management Brian Winikoff for FMG-related activities.
Braverman began his career at AXA in 2009 as head of the Derivatives & Hedging teams, responsible for the development and implementation of AXA’s derivatives and hedging strategies. In 2012, Braverman became AXA’s Treasurer. He was appointed CIO in 2015, responsible for overseeing AXA’s asset liability management, asset allocation and overall investment strategy for AXA’s general account investment and pension portfolios. Braverman continues to serve as President and CEO of AXA Corporate Solutions Life Reinsurance.
Prior to joining AXA, Braverman was global head of Derivatives for AEGON N.V. Previously, he worked for the U.S. Treasury Department as a sovereign debt advisor, Deutsche Bank as director of Mortgage Derivatives Trading and Goldman Sachs as vice president, Fixed Income Proprietary Trading. Braverman is a graduate of The Wharton School of the University of Pennsylvania, with bachelor’s degrees in finance and chemical engineering.
Joenk joined AXA in 1999 as a senior vice president, responsible for creating the sub-advised business model that integrated and improved many of AXA's separate account oversight functions. During the financial crisis, Joenk was credited for pioneering innovative strategies to help reduce fund expenses and address market volatility in AXA’s variable insurance subaccounts.
Immediately prior, Joenk was managing director of International Fund Services for MeesPierson, Inc. He also held executive positions at Gabelli Funds., Inc., and Mitchell Hutchins Asset Management. At PepsiCo, he was manager of Regional Analysis and Strategic Planning for North Asia and the Far East. He graduated from Washington University with a combined M.B.A and bachelor’s degree in chemical engineering. He completed coursework for the Doctoral Program in Finance at Pace University and is currently working on his thesis.
“AXA” is a brand name of AXA Equitable Financial Services, LLC and its family of companies, including AXA Equitable Life Insurance Company (NY, NY), MONY Life Insurance Company of America (AZ stock company, administrative office: Jersey City, NJ), AXA Advisors, LLC, and AXA Distributors, LLC. In business since 1859, AXA Equitable Life Insurance Company is a leading financial protection company and one of the nation’s premier providers of life insurance and annuity products distributed to individuals and business owners through its retail distribution channel, AXA Advisors, LLC (member FINRA, SIPC) and to the financial services market through its wholesale distribution channel, AXA Distributors, LLC (member FINRA, SIPC).
AXA S.A. (also referred to as “AXA Group”) is a Paris-headquartered holding company for a group of international insurance and financial services companies, including AXA Equitable Financial Services, LLC companies. AXA S.A. is a worldwide leader in financial protection strategies and wealth management with 103 million clients in 64 countries as of Dec. 31, 2016. AXA S.A. has been ranked the No. 1 insurance brand in the world by Interbrand for eight consecutive years as of Oct. 5, 2016.
The obligations of AXA Equitable Life Insurance Company and MONY Life Insurance Company of America are backed solely by their claims-paying ability. Find AXA on Facebook, Twitter and LinkedIn. For more information, visit www.axa.com.