TPG announces new CFO, shares drop 1.45%

By Ahmed Jamerson • Monday, June 22 10:51 • Permanent Link

TPG said Monday it has named Axel André as partner and chief financial officer, effective July 27, replacing Jack Weingart in the finance role.

André joins from Reinsurance Group of America, where he was executive vice president and CFO. Before that, he held CFO roles at American Equity Life and Jackson National, and earlier served as CFO and chief risk officer of AIG’s individual and group retirement services division.

Weingart will move full time to chief executive of TPG’s global wealth solutions business, a role he took on last year. TPG said that business has gained “significant momentum” since inception and that private wealth is a strategic priority.

The company said TPG now has $306 billion of assets under management and investment and operational teams around the world. It also said its T-Pop private equity evergreen business had a strong first year under Weingart’s leadership. As a result of these announcements, the company's shares have moved -1.45% on the market, and are now trading at a price of $41.44. For more information, read the company's full 8-K submission here.

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