Allianz Life Insurance Company of North America has hired Tim Armbrustmacher as finance director for sales distribution.
He will serve as the key finance resource and strategic business partner providing financial decision advocacy and analysis. His role supports the distribution areas that are responsible for variable annuity, fixed annuity and life insurance sales.
He is also responsible for compensation planning, budgeting, monthly reporting and analysis of financial results along with profitability projects. Armbrustmacher reports directly to the vice president of finance, Marc Olson.
“Tim has held several leadership positions and understands the important role that dedicated finance support has for a business area,” says Olson. “With the experience he brings, he will play a vital role for his business partners and will help ensure our company gives the best results for our customer.”
Prior to joining Allianz Life, Armbrustmacher worked at Ameriprise Financial in Minneapolis for 19 years where he held finance director roles in several areas for more than 10 years. Most recently, he provided business decision support and analysis to seven product lines that generated more than USD2bn in revenue. He led the internal reporting function that included communication of the monthly and quarterly results to key stakeholders. Armbrustmacher was also responsible for financial consulting to various areas of the business including asset management, advice and wealth management – the finance function for broker dealers, and the insurance and annuities business – the finance function for actuarial.
