Jackson Financial CEO Craig Smith to Retire

By Tamara Parker • Thursday, October 09 10:25 • Permanent Link

Lansing, Mich./Chicago, Ill. — October 8, 2025 – PPM America, Inc. (PPM), an indirect, wholly-owned subsidiary of Jackson Financial Inc. (NYSE: JXN), has announced the retirement of Craig Smith, the President and CEO, effective December 31, 2025. Following Smith’s retirement, Chris Raub, the President of Jackson National Life Insurance Company (JNLIC), will step in as the interim leader of PPM.

Under Smith's leadership, PPM has navigated significant change and helped establish Jackson’s successful track record as a stand-alone public company. During his tenure, Smith fostered a collaborative, client-centric approach, positioning PPM and Jackson well for future growth and success.

Chris Raub, who will serve as the interim leader of PPM, has spent more than 25 years with Jackson in various roles, including chief risk officer of Jackson and senior managing director and head of insurance assets at PPM. While serving in this interim capacity, he will maintain his responsibilities as president of JNLIC.

As PPM prepares for this leadership transition, there is a continued focus on delivering world-class investment performance and service to all clients and executing on key growth initiatives through global institutional channels.

Jackson Financial Inc. (NYSE: JXN) is a U.S. holding company and the direct parent of Jackson National Life Insurance Company, Brooke Life Insurance Company, PPM America, Inc., and Jackson National Asset Management, LLC.

Jackson Financial Inc. is committed to helping clarify the complexity of retirement planning for financial professionals and their clients. Through a range of annuity products, financial know-how, history of award-winning service, and streamlined experiences, Jackson strives to reduce the confusion that complicates retirement planning.

As PPM prepares for this transition in leadership, it's important to note that the company continues to focus on delivering value for its clients well into the future. The market has reacted to these announcements by moving the company's shares 0.27% to a price of $100.89. If you want to know more, read the company's complete 8-K report here.

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