Martin Lippert
Director at JXN
Board
About Martin J. Lippert
Independent director of Jackson Financial Inc. (JXN), age 65, serving since September 2021. Former EVP of Global Technology & Operations at MetLife with prior senior roles at Citi, Royal Bank of Canada, and BNY Mellon; core credentials include enterprise technology, cybersecurity, operations, and risk management across global financial institutions. Lippert is independent under NYSE standards; he serves on the Finance & Risk Committee and the Nominating & Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| MetLife, Inc. | EVP, Global Technology & Operations | 2011–2019 | Led global tech/operations; risk management and digital strategy oversight |
| Citi | Chief Operations & Technology Officer | 2008–2009 | Enterprise operations and technology leadership |
| Royal Bank of Canada | Vice Chairman | 1997–2008 | Senior leadership; oversight of risk and operations |
| BNY Mellon | EVP, Information Management & Research | 1981–1997 | Information management leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Freddie Mac | Special Adviser | 2009–2010 | Advisory role on operations/technology |
| Trillium Health Systems | Director | 2004–2009 | Board service |
| AOL Canada | Chair | 2000–2002 | Board leadership |
| University of Pittsburgh | Board of Visitors | 2018–present | Advisory/oversight |
| New Leaders | Director | 2010–present | Nonprofit governance |
| Nile Global Inc. | Advisory Board Member | 2020–present | Technology advisory |
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent; all directors except the CEO are independent under NYSE standards |
| Committees | Finance & Risk; Nominating & Governance (not a chair) |
| Committee Oversight Links | Finance & Risk oversees risk framework, capital, ALM, cybersecurity (CISO briefings, testing, insurance); N&G oversees governance, succession, corporate responsibility, human capital |
| Attendance | Board met 9 times in 2024; committees met 27 times; each director attended ≥75% of meetings; all directors attended the 2024 annual meeting |
| Executive Sessions | Independent directors meet in executive sessions at Board and committee meetings |
Fixed Compensation
| Component | 2024 Policy | 2024 Actuals (Lippert) |
|---|---|---|
| Annual Cash Retainer | $125,000 (non-employee directors) | $122,547 (elected equity in lieu of cash retainer; amount reflects grant-date fair value of RSUs in lieu of cash) |
| Annual Equity Retainer (intended value) | $165,000 (RSUs or restricted shares) | $161,786 (RSUs; grant-date fair value) |
| Committee Chair Fees | Audit $35k; Comp $30k; Finance & Risk $35k; N&G $20k (Lippert not a chair) | $0 (no chair fees) |
| Director Total (CY 2024) | N/A | $284,333 (cash/equity as reported) |
Notes:
- RSU counts for retainers determined using $76.95 average closing price (10-day lookback) for June 1, 2024 grants; annual equity fair value computed using $75.46 on grant date .
- Equity in lieu of cash retainer vests quarterly; annual equity retainer cliff vests at the earlier of first anniversary or next annual meeting; vested RSUs settle upon departure from Board .
Performance Compensation
Directors do not receive performance-based pay; equity is time-vested only (no options; no performance metrics). Vesting schedules:
- Annual equity retainer: cliff vests at earlier of first anniversary or next annual meeting .
- Equity in lieu of cash retainer: vests in equal quarterly installments .
| Equity Award (as of 12/31/2024) | Units Unvested | Market Value |
|---|---|---|
| RSUs (incl. dividend equivalents) | 3,032 | $264,027 (at $87.08) |
Other Directorships & Interlocks
No current public-company directorships disclosed; external roles listed above are advisory/nonprofit/academic. Related-party and interlock review disclosed immaterial relationships for certain other directors; none for Lippert .
Expertise & Qualifications
- Executive leadership; business operations and strategy; financial services and insurance; legal/compliance awareness; technology and cybersecurity; risk management .
- Executive education: Stanford Director’s Consortium (2024); BS in Business, University of Pittsburgh .
Equity Ownership
| Ownership Measure | Amount | Notes |
|---|---|---|
| Common Shares | 0 | Direct holdings |
| Shares that may be acquired within 60 days | 39,183.74 | Includes stock equivalents/RSUs per company table |
| Unvested RSUs (12/31/2024) | 3,032 | Includes dividend equivalents |
| % of Common Shares | * | Less than 1% |
| Stock Ownership Guideline | 5x annual cash retainer; all non-employee directors in compliance | |
| Hedging/Pledging | Prohibited by policy; no director has hedged or pledged shares |
Governance Assessment
- Strengths:
- Independence, multi-committee service (Finance & Risk, N&G) aligns with deep technology/cyber and operations background, strengthening oversight of the risk framework and cybersecurity posture (regular CISO reports, third-party assessments, incident exercises) .
- Attendance and engagement thresholds met; Board operates with independent chair, executive sessions, and robust evaluation/education (including technology and cybersecurity briefings) .
- Director pay structure emphasizes equity, quarterly vesting for cash-in-lieu choices, and deferred settlement upon departure; strong ownership guidelines and hedging/pledging bans support alignment .
- Potential conflicts/RED FLAGS:
- No related-party transactions disclosed for Lippert; no loans; no hedging/pledging; outside public board service limit is three and not implicated here .
- Mandatory retirement age is 75 (Lippert 65), providing runway while enabling planned refreshment .
- Investor confidence signals:
- Governance framework features independent committees, majority voting, shareholder special meeting rights, and strong say-on-pay outcomes (98% support in 2024), indicative of shareholder alignment and oversight rigor .
Appendix: Committee Responsibilities (Context)
- Finance & Risk: Oversees risk framework/appetite, capital/liquidity, ALM, investment portfolio, cybersecurity updates and control testing .
- Nominating & Governance: Board composition, independence, succession planning (CEO, Chair, committee chairs), corporate responsibility, human capital oversight .