Nationwide Financial has announced that John Carter (pictured above), its president and chief operating officer, plans to retire at the end of 2025 after a 40-year career in the financial services industry, including 20 years with Nationwide.
Under Carter’s leadership, Nationwide Financial said that it saw significant growth, with a 62% increase in the business since 2019. The firm strengthened relationships with major distribution partners, modernized core business systems, and introduced new solutions to meet evolving customer needs.
Nationwide noted that over 25% of its sales now come from businesses, solutions, and partnerships developed within the past five years.
Carter joined Nationwide in 2005 as president of sales and distribution for Nationwide Financial. He became president of Nationwide Retirement Plans in 2013 and assumed his current role as president and COO in 2019.
His responsibilities included overseeing Nationwide’s retirement plans, life insurance, annuities, and mutual funds operations. Before Nationwide, Carter held leadership positions at Prudential Financial, UBS, and Kidder Peabody.
Nationwide highlighted Carter’s contributions to the company, including his efforts to expand its footprint in the financial services sector. Earlier this year, the company also announced that Glen Curley, head of excess casualty, would retire on March 14.
As the company prepares for Carter’s departure, Nationwide is expected to focus on continuing the strategies he implemented, including broadening its distribution channels and developing innovative solutions to meet customer needs. The company has not yet announced Carter’s successor.
Throughout his career, Carter has been a strong advocate for the retirement security of Americans, frequently traveling to Washington, D.C., to contribute to regulatory and industry discussions that shape retirement planning.
He has held board positions with several prominent industry associations, including the American Council of Life Insurers (ACLI), the Insured Retirement Institute, the Employee Benefit Research Institute, and the Columbus Chamber of Commerce.
In 2020, Carter played a key role in establishing the Financial Alliance for Racial Equity (FARE), a coalition of leading financial services firms, industry associations, and Historically Black Colleges and Universities (HBCUs). FARE aims to promote sustainable economic wealth in diverse communities and enhance inclusivity within the financial services sector.
At Nationwide, Carter has been actively involved in fostering diversity and community engagement. He served as co-executive sponsor of the Nationwide Latino Alliance for four years and currently holds the same role for the Nationwide Cares campaign, which encourages employee volunteerism and charitable giving.
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