American International Group's SunAmerica Financial Group unit is reorganizing to consolidate and expand its distribution channels.

It has named Stephen A. Maginn to head the unit that oversees retail distribution and a former Goldman Sachs executive, Jonathan Novak to head a new unit that will seek growth in institutional markets.

Among the other new hires in the retail distribution division will be Michael Treske, who joins SunAmerica from John Hancock, which has recently announced it was restructuring its annuity operations to reduce potential risk from the "living benefits" component of variable annuities

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