Nationwide President And Coo John Carter To Step Down

Nationwide Financial, one of the country's leading providers of insurance and retirement solutions, has announced the planned exit of its president and COO.

The firm announced that John Carter plans to retire at the end of the year, concluding a distinguished 40-year career in the financial services industry, including two decades with Nationwide.

Carter will continue with Nationwide through the end of the year to ensure a smooth transition.

“John’s leadership throughout his 20 years at Nationwide has played a significant and lasting role in the company’s success,” Kirt Walker, CEO of Nationwide, said in a statement Wednesday. “Through John’s vision and leadership, Nationwide Financial has grown into one of America’s leading financial services firms.”

Nationwide highlighted several significant achievements that marked Carter's tenure, including four consecutive years of record-breaking sales and a 62 percent growth in Nationwide Financial’s business since 2019. He oversaw the firm’s modernization efforts, expanded its distribution partnerships, and introduced a suite of new solutions – including Protected Retirement, Pension Risk Transfer, and the CareMatters long-term care product line – which the company said now contribute more than a quarter of its sales.

Carter joined Nationwide in 2005 as president of sales and distribution and later led the company’s retirement plans business before assuming his current role in 2019. His prior experience includes leadership positions at Prudential Financial, UBS, and Kidder Peabody.

In addition to his business accomplishments, Carter championed employee-focused initiatives during his tenure. He launched Nationwide Financial’s internship program in 2013 and helped establish cultural programs aimed at fostering employee engagement and creating high-performing teams.

On an industry level, Carter played a key role in advancing diversity and inclusion. In 2020, he helped create the Financial Alliance for Racial Equity, a coalition dedicated to promoting inclusivity in financial services and fostering economic wealth in diverse communities. He also served on the boards of several industry associations, including the American Council of Life Insurers and the Employee Benefit Research Institute.

“John will leave a lasting impact on the industry and Nationwide, and Nationwide Financial is well positioned to continue its above-industry growth for years to come because of his leadership,” said Walker.