Jackson Financial Inc. (NYSE: JXN) and its wholly‑owned subsidiary PPM America, Inc. announced today that Craig Smith, who has served as President and Chief Executive Officer of PPM for nearly twenty years, will retire on December 31, 2025. The announcement confirms that Smith’s retirement will be effective at the end of 2025, with a transition of day‑to‑day leadership responsibilities to Chris Raub, President of Jackson National Life Insurance Company.
Under the transition plan, Raub will assume the role of interim leader of PPM while a search for a permanent successor is conducted. Raub brings more than twenty‑five years of experience at Jackson, having served as Chief Risk Officer and as senior managing director and head of insurance assets at PPM. The move preserves continuity in PPM’s operations, which manage $83.51 billion in assets under management as of June 30, 2025, and supports Jackson’s strategy of maintaining strong leadership across its insurance and investment businesses.
The retirement of a long‑standing executive at a key subsidiary is a significant event for Jackson Financial, as PPM plays a central role in the company’s investment platform and capital generation. By appointing an experienced internal leader to oversee PPM during the transition, Jackson signals its commitment to operational stability and to sustaining the performance of its institutional asset‑management arm. The announcement is therefore material to investors and warrants coverage.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.