Lincoln Financial Group, which has major operations in Hartford, is cutting another $100 million from expenses and has made several management changes.
Given the continuing difficulty in market conditions, Lincoln said its previous target to shave $150 million in expenses companywide has increased to about $250 million by the end of this year, said CEO Dennis R. Glass.
The Philadelphia-based insurance and financial services provider said Mark E. Konen has been named president of retirement solutions as well as insurance solutions.
Charles C. Cornelio has been appointed executive vice president and chief administrative officer. Heather Dzielak has been named chief marketing officer.
At 11 a.m., Lincoln traded at $7.36, down 77 cents, or 9.5 percent.
