AXA Equitable Life, a wholly-owned indirect subsidiary of financial services company AXA Equitable Holdings has promoted Aaron Sarfatti to chief risk officer, effective Oct. 1.  He succeeds Jurgen Schwering, who after four years as chief risk officer of AXA Equitable Life, has announced his intention to pursue new opportunities in his native country of Germany.

Sarfatti will assume responsibility for the company’s enterprise risk management function reporting to AXA Equitable Holdings President and Chief Executive Officer Mark Pearson.  He previously served as Managing Director and Head of Strategy for the company’s Life, Retirement and Wealth Management businesses.

Sarfatti has more than 15 years of experience working in financial services, life insurance, asset management and retail banking.  Prior to joining AXA Equitable Life, he served as a partner with global management consulting firm, Oliver Wyman, in its North American Insurance Practice. This included a four-year role as head of the firm’s New York office.