Thomas Swank was hired as CEO of American Enterprise Group Inc. after a national search; he began in that position in April. He succeeds Mike Abbott, who is transitioning to the role of executive chairman after 18 years as chairman and CEO. Swank, a chartered financial analyst, was previously president and CEO of Aegon Asset Management U.S. (Transamerica) in Cedar Rapids. Before that, he was president and CEO of Aegon’s Individual Savings and Retirement Division. In August, American Enterprise will move from temporary space in the former Allied building to its newly refurbished headquarters at 601 Sixth Ave. in Des Moines, where a $34 million renovation is nearing completion.

So you’ve just moved from Cedar Rapids? 
I was there about six years. I’m just moving here, and I’m really liking it. (Des Moines is) really a nice city. Great opportunities for things to do; a great place for business; smart, well-educated workforce. It’s really a terrific spot. 

Did you spend most of your career with Transamerica? 
I spent six years in Cedar Rapids with Transamerica. Prior to that, I spent 17 years in Kansas with a company called Security Benefit. My career path has been winding; I spent a lot of my career early on the investment side. Then I was given opportunities to be CFO for the company, and then head of marketing. Then I ran the retirement plan business in Kansas. Then I was recruited to run Transamerica’s annuity and mutual fund businesses. I did that for a little over five years, and then they asked me to run their U.S. asset management business, called Aegon Asset Management USA.

How does American Enterprise Group compare in scale to other companies you’ve been with? 
Security Benefit had about $25 billion (in assets), and the division I ran at Aegon was close to $90 billion in assets. Here we’re at about $1 billion. Both Security Benefit and American Enterprise are mutual companies, domestically focused, and Aegon is a big international. So I’ve been fortunate to have smaller company background, then work for a larger international company, and now have the privilege to run the entire company here. So I feel very fortunate. 

Has much of your attention been on the renovation project?  
I’m fortunate in that regard because I joined in April; all the (planning) work had already been done. … I’ve had a couple of tours just to see it, but I don’t have the perspective that pretty much everyone else has. I’m kind of the beneficiary of all the hard work that everybody’s been doing to get it ready. 

What’s ahead now for the company? 
I was brought here to grow the company. The company is in very strong financial shape and is looking to grow. And it’s going to grow beginning with a focus on its core markets and traditional channels. We’re looking to expand our products for diversification, but based upon our core competencies — out of health care and the competencies we have around product development, around underwriting and risk selection, around our service and admin capabilities, and around our ability to acquire and integrate acquisitions. So we’re focused on organic growth in our traditional channels, adding new products, and then looking to opportunistically add an acquisition where it makes sense. 

That would continue a history of previous acquisitions, right? 
It’s a continuation upon the success and the foundation that has been established. But the real focus here is that we have the opportunity to grow. And the reason we’ve got such a good opportunity is the financial foundation, that flexibility that has allowed us to invest. The way I look at it, we’ve got the three P’s: products that help our customers become financially secure, especially around managing and helping to pay for health care. Second, we have a platform that is very scalable and that allows our people to help customers feel valued and appreciated, and that’s key. Third is the fact that we’ve got really great people. This is a people-helping-people business. As you walk around the floor, you would see people who are very focused on doing what’s right for the customer, what’s right for the business and what’s right for each other. 

How many employees are there? What’s the potential for growth?  
We have a total of around 400 people between here and Omaha, with the bulk of them being here in Des Moines. As we grow, that creates opportunities for the people who are with us and opportunities to add people as well. I believe that because of the foundation we have, that we will grow. That will create opportunities and sort of a virtuous circle of growth. 

Is it primarily demographic trends driving that growth? 
It already has driven a lot of growth. The products that we offer are perfect for the baby boomer generation, that big population going through. We offer Medicare supplement products; we offer dental products, vision and hearing insurance products, and also hospital indemnity — all of which people, at that point of retirement or just after, need. We can help people feel more comfortable in retirement. 

What’s your personal leadership style? 
I think what people will find about me is that I like to be among the employees. I like to walk the floors. I like to be involved. What’s important to me in terms of being a leader is making sure I’ve got the right people in the right roles, because this is such a people business. Getting agreement on where we’re going and what the objectives are, and then letting my team do their thing. And to be there as a resource to allow them to run. I’m a transparent guy; I really believe in working to keep things simple and focus on results over activities, and focus on what adds value. I believe if we do those things, everybody’s engaged and moving forward on what matters in the organization to make it successful for us and our customers. 

How do you plan to engage in the community? 
It’s probably a little too early to say. Right now I’m getting my arms around my new role here and getting to know as many people as I can in the organization. And I’m also meeting other business leaders in the community to hear what they see and hear and think. But my focus is to be involved; I believe it’s good for the community and I certainly want to be involved. 

Hobbies you enjoy? 
I love to work out. (I) play some golf, not always real well. I enjoy traveling also. Domestically, in the winter where we can, we get a little reprieve down in Florida. And last summer I saw Prague and Budapest; I thought that was fun. 

Tell me about your family. 
I’ve been married for 32 years to my college sweetheart. I have two grown children, both out making their way in the world, which I’m proud about. Quite frankly, I feel like one fortunate guy — I’ve got a good family, a great opportunity to come work here at American Enterprise with products that help people. In my book, it’s hard to beat that.