F&G Annuities & Life is changing its top leadership and finance team in a move that shifts the company’s focus further toward fee-based businesses and capital-light growth.
Chris Blunt, who has been chief executive officer since 2019, will retire from that role on June 30, 2026. He will remain on F&G’s board and continue as chief executive officer of Peak Altitude Equity, the company’s owned distribution business. F&G said Blunt will lead a formal process to explore strategic alternatives for Peak Altitude.
Conor Murphy, currently president and chief financial officer, will become chief executive officer and president on June 30, 2026. Murphy joined F&G in April 2025 and has 38 years of financial services experience, including 33 years in insurance.
The finance role is also changing. Michael Bailey will join F&G as executive vice president and chief financial officer on August 3, 2026. Until then, Mark Wiltse, F&G’s chief accounting officer, will serve as interim chief financial officer. Wiltse has been chief accounting officer since May 2020 and has been with F&G since 2016.
The company highlighted the growth under Blunt’s tenure, saying F&G has nearly tripled assets under management since 2019. That expansion came alongside a broader shift in the business mix, including diversification in products and distribution, flow reinsurance and owned distribution.
F&G said it is now moving further into a more fee-based, higher-margin and less capital-intensive model. The company said that transition is expected to support steady long-term earnings growth, stronger cash generation and higher returns.
Murphy said the company is continuing to grow assets under management while maintaining attractive and stable liabilities, and that disciplined growth in spread-based products remains part of the plan. Following these announcements, the company's shares moved -4.71%, and are now trading at a price of $27.32. For more information, read the company's full 8-K submission here.
