New horizons for Sam Foti
AXA Financial acquired The MONY Group in 2004 for a total sum of $60 million. They, however, have retained many executives of the company. In his position as the President and Chief Operating Officer of the company, Sam Foti has worked for the smooth acquisition of the company with AXA. Before the acquisition, he also participated in acquiring other companies.
MONY acquired U.S. Financial Life Insurance Co. and Trusted Advisors Inc., among other companies, during the tenure of Samuel J. Foti. These measures helped the company in shedding off bad assets and improving the overall financial position by buying the profitable ones. He went on a cost cutting imitative where early retirement plans were introduced and compensations paid for those voluntarily leaving the company.
Samuel Foti is a graduate of the University of Pennsylvania where he completed his Masters Degree in finance and investments. He joined MONY in 1988 and introduced advanced working procedures at the very start. A reshuffling of workforce and introduction of computer technology were some of his earliest measures to turn the company around. He has been inducted into the board of directors of many companies and institutions, including the American College