After 25 years of service, Randy F. Wallake, 64, vice chairman of Securian Financial Group, is retiring effective July 1.
Wallake joined Securian, then Minnesota Mutual Life Insurance Company, in 1987 with 16 years of sales and leadership experience in the financial services industry. He was hired as vice president of pension sales and subsequently assumed responsibility for the company’s retirement business. In 2001, he was promoted to executive vice president, adding responsibility for the company’s individual insurance business and, two years later, its broker-dealer and trust operations. In 2005, he was named vice chairman and in 2007, he was named president of Securian Financial Group. As Securian’s fifteenth president, Wallake directed all of the company’s insurance businesses and its information technology division. He was succeeded as president Jan. 1, 2012, by Christopher M. Hilger.
He received his undergraduate degree from Ohio University and an MBA from Bowling Green State University.
Throughout his career, Wallake has been active in industry and community organizations including the American Council of Life Insurers Executive Roundtable, General Agent and Managers Association Executive Management Cabinet and the boards of L.L. Global Inc. and the American College. In the Twin Cities, he is a past chairman and a member of the board of North Central Blood Services, a unit of the American Red Cross.
As for his retirement plans, “I’m going to take a year off and figure it out. I have many hobbies and much I yet want to learn. Then we’ll see,” Wallake said.