NEW YORK - Equitable Holdings, Inc. (NYSE:EQH), a prominent financial services holding company with a market capitalization of $16.17 billion, has announced the addition of Douglas Dachille as an independent member of its Board of Directors. The company's stock has shown remarkable strength, delivering a 56.44% return over the past year and currently trading near its 52-week high. Dachille's appointment took effect immediately, expanding the board's expertise particularly in the strategic areas of insurance, banking, and asset management. According to InvestingPro analysis, which offers comprehensive insights through its Pro Research Reports covering 1,400+ top stocks, EQH's management has been actively buying back shares, demonstrating confidence in the company's future.
Dachille is recognized for his extensive career spanning over 30 years, during which he has led complex corporate transactions and developed innovative investment solutions tailored to insurance liabilities. His background includes a tenure as Chief Investment Officer at American International Group Inc. (NYSE:AIG), where he managed a $350 billion portfolio from 2015 to 2021, contributing to the company's stabilization and financial recovery post-financial crisis.
Before his role at AIG, Dachille co-founded and served as CEO of First Principles Capital Management, an institutional fixed income asset manager acquired by AIG. His earlier experience includes positions as President and COO of Zurich Capital Markets and various leadership roles at JPMorgan Chase (NYSE:JPM), such as Global Head of Proprietary Trading and Co-Treasurer.
Joan Lamm-Tennant, Chair of the Equitable Holdings Board of Directors, expressed enthusiasm about Dachille joining the team, citing his leadership in insurance and asset management as vital for the company's growth and navigation of the industry's evolving landscape.
Mark Pearson (LON:PSON), President and CEO of Equitable Holdings, also highlighted Dachille's relevant experience, which aligns with the company's integrated advice, retirement, and asset management businesses. Pearson anticipates that Dachille's industry perspective will be a guiding force in fulfilling financial commitments, expanding the business, and enhancing shareholder value.
Dachille's current roles include serving as an independent director of the BridgeBio Pharma (NASDAQ:BBIO), Inc. Board of Directors. His past board memberships include Lyndra Therapeutics. He holds a Bachelor of Science degree from Union University, an MBA from the University of Chicago, and was named a Pew Scholar.
Equitable Holdings, with $1.0 trillion in assets under management and administration as of September 30, 2024, serves over 5 million clients worldwide. The company generates annual revenue of $10.79 billion and maintains a consistent dividend growth track record, having raised its dividend for seven consecutive years, with a current yield of 1.92%. Founded in 1859, its subsidiaries include Equitable, AllianceBernstein (NYSE:AB), and Equitable Advisors, offering a range of financial services from retirement and protection strategies to investment management. For deeper insights into EQH's valuation and growth prospects, investors can access detailed financial metrics and expert analysis through InvestingPro, which provides exclusive access to over 30 key financial indicators and professional-grade investment tools.
This article is based on a press release statement.
In other recent news, Equitable Holdings and Athene Holding (NYSE:ATH) have made notable strides in their financial performance. Equitable Holdings, following an upgrade by Deutsche Bank (ETR:DBKGn) from Hold to Buy, has shown significant growth in its Q3 non-GAAP operating earnings, with a 34% year-over-year rise to $501 million. The company's assets under management have exceeded $1 trillion, marking a 20% growth from the previous year. Deutsche Bank's upgrade was driven by Equitable's dominant position in the Registered Index-Linked Annuity (RILA) market and its robust capital situation.
Furthermore, Athene Holding has disclosed its third-quarter financial results, providing important insights into its financial health. The company's executive vice president and chief financial officer, Martin P. Klein, signed off on the report, underscoring the formal presentation of the financial results to the market and regulatory bodies.
These recent developments highlight the evolving financial landscape of both companies. Equitable's successful Q3 results and Deutsche Bank's upgrade underscore the company's potential for growth. Athene's Q3 financial results announcement demonstrates its commitment to transparency and regulatory compliance. Both companies continue to make significant strides in their respective markets.
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