Stillwater resident Randy F. Wallake, vice chairman of Securian Financial Group, is retiring July 1 after 25 years with the company, Securian officials announced this week.
Wallake joined Securian, then Minnesota Mutual Life Insurance Company, in 1987 with 16 years of sales and leadership experience in the financial services industry. He was hired as vice president of pension sales and subsequently assumed responsibility for the company’s retirement business.
In 2001, he was promoted to executive vice president, adding responsibility for the company’s individual insurance business and, two years later, its broker-dealer and trust operations. In 2005, he was named vice chairman and in 2007 he was named president of Securian Financial Group. As Securian’s 15th president, Wallake directed all of the company’s insurance businesses and its information technology division. Christopher M. Hilger succeeded Wallake as president Jan. 1, 2012.
"Much of the success we enjoy today is due to Randy’s vision and leadership in shaping Securian’s future," said Robert L. Senkler, chairman and CEO of Securian Financial Group. "He led the way in developing and executing key growth strategies, including diversifying and modernizing our distribution systems. Randy leaves a legacy of strong, ethical leadership whose impact on this company will be felt for decades."
Wallake is a native of Toledo, Ohio. He received his undergraduate degree from Ohio University in Athens, Ohio, and an MBA from Bowling Green State University in Bowling Green, Ohio.
Throughout his career, Wallake has been active in industry and community organizations including the American Council of Life Insurers Executive Roundtable, General Agent and Managers Association Executive Management Cabinet and the boards of L.L. Global, Inc. and the American College. In the Twin Cities, he is a past chairman and a member of the board of North Central Blood Services, a unit of the American Red Cross.
As for his retirement plans, Wallake said: "I’m going to take a year off and figure it out. I have many hobbies and much I yet want to learn. Then we’ll see."
Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation’s largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Co., Securian Life Insurance Co., a New York admitted insurer, and Advantus Capital Management.