New York-listed Genworth Financial has added its tenth board member in the shape of former senator Kent Conrad, who joins as an independent director.

Conrad served as a US senator representing North Dakota between January 1987 and January 2013. At the time of his retirement from the Senate, he was chairman of the Senate budget committee.   

“Kent's extensive budgetary and public policy experience and perspectives will provide invaluable insights as Genworth continues its focus on rebuilding value for shareholders,” said James Riepe, non-executive chairman of the board.

At the end of February, the firm appointed its chief financial officer as executive vice president of the business, with responsibility for driving key strategies such as growing the wealth management business and creating more value.