Jackson Financial Inc. and PPM America, Inc., an indirect, wholly-owned subsidiary of Jackson, announced today that after nearly 20 years of service, Craig Smith, President and Chief Executive Officer of PPM, intends to retire on December 31, 2025. While a search is conducted for his successor, Smith will begin to transition his day-to-day leadership responsibilities of PPM to Chris Raub, President, Jackson National Life Insurance Company (JNLIC), who will serve as the interim leader of PPM following Smith’s retirement.
“I am deeply appreciative of Craig’s steadfast leadership and contributions over the years. During his tenure, he helped PPM navigate significant change and helped establish Jackson’s successful track record as a stand-alone public company,” commented Laura Prieskorn, President and Chief Executive Officer of Jackson. “Craig has fostered a collaborative, client-centric approach, positioning PPM and Jackson well for future growth and success. I wish Craig the absolute best in retirement.”
“I am grateful to have had the opportunity to lead one of the best asset management teams in the business,” commented Smith. “It is inspiring to be a part of a team that exhibits clear dedication to clients, stakeholders, and each other every day. I look forward to seeing PPM continue to evolve and grow with an unwavering focus on delivering value for its clients well into the future.”
Prieskorn continued, “As we prepare for this transition in leadership, I am confident Chris is well-suited for this interim role. He will provide oversight for PPM’s executive leadership team with a continued focus on delivering world-class investment performance and service to all clients and executing on key growth initiatives through global institutional channels.”
Raub 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, including oversight of Jackson’s distribution, product development, operations, information technology and sub-advisor/fund accounting functions.
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