Former Phoenix Executive To
Pursue Growth In Insurance,
Financial Services
By DIANE LEVICK
Courant Staff Writer
November 24 2005
Barbara Fernandez of Haddam, a
former executive at The Phoenix
Cos., has been chosen to lead a new
state office aimed at attracting and
retaining insurance and financial
services jobs in Connecticut, Gov.
M. Jodi Rell announced Wednesday.
Fernandez, 53, will start Dec. 19 as
director of the new Insurance and
Financial Services Business
Development Office. It is part of
the Department of Economic and
Community Development.
She will leave her current post as
chief executive of Guakia Inc. in
Hartford, a bilingual school of
Latino music, art and culture.
Fernandez has marketing,
international and management
expertise, and creating the new
office "will go a long way in
helping to ensure that Connecticut
remains the Insurance Capital of the
World," Rell said in a written
statement.
The new position was first announced
last May after the governor's summit
meeting with local executives from
the industry.
It comes after years of mergers and
acquisitions that have taken company
headquarters out of Hartford and cut
thousands of jobs, with more layoffs
on the way.
Fernandez, who will be paid about
$81,000 a year, will help the
governor and Economic Development
Commissioner James Abromaitis shape
public policy and strategy and work
with state and local leaders.
She expects to speak with companies
that are already located in the
state, including Fairfield County,
and to attend certain conferences
around the nation. She also plans to
research and possibly visit some
states that have successfully
recruited and kept insurance or
financial service businesses, such
as Iowa, Vermont and the Carolinas.
"We as a state have so much to offer
the industry," Fernandez said in an
interview Wednesday.
She realizes the challenges in
attracting major new corporate
headquarters, but says, "We may not
be bagging an elephant, but I'll
take a couple of birds."
Fernandez's position will be
complementary to the existing
Insurance and Financial Services
Cluster, Abromaitis said. The
cluster, launched in 2002, is a
partnership of corporations and
state government aimed at fostering
the industry in Connecticut.
Abromaitis said Fernandez will
report to him on issues of policy
and direction, and to Oley Carpp, of
the Office of Strategic
Competitiveness, for administrative
matters.
Fernandez worked for Hartford-based
Phoenix for about 25 years, and was
one of the employees who accepted
early retirement offers in 2001. She
started with Guakia as a "loaned"
executive from Phoenix for a time.
She had risen through the ranks at
Phoenix to become an assistant vice
president in international
operations. She was responsible for
helping to identify and develop
international joint ventures for
Phoenix, such as one in Argentina.
Before Phoenix, she worked for
Travelers Insurance as an analyst in
the property-casualty business.
Born in the Dominican Republic,
Fernandez, who is bilingual, moved
at the age of 9 with her family to
New York. She graduated from Trinity
College in Hartford with a
bachelor's degree in economics and
received an M.B.A. from the
University of Connecticut.
She lives with her husband, Robert
Sarmuk, a Pratt & Whitney retiree,
and has a daughter in college.